One question can stall everything as you prepare for your next chapter: what do you do with your house when moving to senior living?
Sell it? Rent it out? Sign it over to a family member? Each answer changes your monthly budget, your tax picture, and how soon you can settle in. This guide can help you weigh your options.
Selling Your House Before Moving to Senior Living
Selling your house before moving to senior living is the route most people take, mainly because it settles everything at once. The proceeds help to fund a predictable monthly budget, and property taxes, roof estimates, and other ongoing responsibilities and homeownership costs stop being your responsibility the day you close.
Timing the sale and senior living community move-in can require some careful planning, but your real estate agent can help. Present your situation to them and ask for options as far as listing timelines, closing dates, and fitting in your move.
Rent or Sell Your House: Senior Living Budgets & the Landlord Question
If you are weighing renting or selling your house for senior living, the deciding factor is rarely the size of the rent check. It is whether you want a second job. Renting keeps the asset and adds income, which appeals to owners who bought decades ago and watched their equity climb. However, being a landlord in Tarrant County also means:
- Repairs and tenant turnover on their timeline, not yours.
- Screening, lease agreements, and the occasional empty month.
- Insurance, taxes, and upkeep subtracted from revenue.
Working with a property manager can substantially reduce the time you or your family would spend working as a landlord, but it comes at an additional cost.
Use the net profit after all costs rather than the gross rent by itself when calculating your return. If what is left over is thin, selling can make more sense.
Keeping Your House While in Senior Living
Keeping your house while in senior living works best as a short experiment instead of a long-term plan. Some new residents want a few months in an apartment home first, or they have adult children who need the house in the short term.
The cost is real: two sets of utilities, two insurance policies, and taxes on a property nobody is using. Put a decision date on the calendar. Ninety days is usually enough to know whether restaurant-style dining, a full programs and events calendar, and the other amenities of Independent Living with supportive services** suit you better than continuing to deal with all the obligations of owning a home.
Our Independent Living with supportive services** community is designed to support your independence while offering access to additional help—only when and if you want it. A choice of third-party providers is available onsite for your convenience, but you are under no obligation to use any particular one. This flexible approach is perfect for individuals or couples with varied needs. Extend your independent lifestyle by choosing to make our community your home.
Transferring Ownership & Using Home Equity
Signing the house over to an adult child can simplify an estate, but the timing carries consequences. Gift tax rules, benefit eligibility, and other factors all hinge on when and how the transfer happens, so talk with an estate planning attorney and a tax advisor about your options.
If you would rather keep the deed and still use the value, two tools come up most often:
- A reverse mortgage, which requires no monthly payment but accrues interest against your equity.
- A home equity line of credit, which costs less up front and adds a monthly payment.
However, these tools also have conditions related to owner occupancy, among other factors. Discuss these options with your attorney and tax advisor before committing to them.
House Options When Moving to an Apartment Home
Deciding on a house option when moving to an apartment can get easier when you keep the benefits of the move in mind.
At Arlington Plaza, the monthly rate includes three chef-prepared meals a day in the restaurant-style dining room, housekeeping, home maintenance, and scheduled transportation for shopping trips and appointments. Residents fill the week with diverse programs and events, Health & Fitness classes, and shared meals. They also head out to the trails at Bowman Springs Park or a game at Globe Life Field.
Frequently Asked Questions
Should I Sell My House for Senior Living, or Wait?
Selling first is simpler for most people, since one predictable monthly cost beats two.
How Long Does the Process of Selling a Home Take?
Two to three months from listing to closing is typical. Establish a relationship with an agent before you tour.
Can I Move into a Senior Living Community Before the House Sells?
Yes. Many residents lease an apartment home first and close later.
You Decide What Comes Next
Deciding what to do with your house when moving to senior living comes down to your budget, your family, and how soon you want to be settled in your new apartment home. Schedule a personalized tour of Arlington Plaza and see what your next chapter could look like.
A choice of third-party providers is available onsite for convenience, but residents are under no obligation to use any particular one.
