🏠 Senior Series – Episode 2: Selling a Paid-Off Home: What You Need to Know

If you’ve paid off your mortgage—congratulations! You’ve accomplished something many only dream of. Now you might be asking: “Should I sell?” and “What happens if I do?”

Selling a mortgage-free home is a powerful opportunity, but it also comes with questions. Let’s break down what to expect and how to make smart financial decisions for your next chapter.

💰 1. You’re in a Strong Financial Position

With no loan to pay off, any sale proceeds go straight to you. That means:

• You’ll walk away with more equity

• You have more flexibility in negotiations

• You may be able to buy your next home in cash

Selling a paid-off home gives you leverage—use it wisely!

🧾 2. You Still Have Costs to Prepare For

Even without a mortgage, selling isn’t totally free. Expect to pay:

• Closing costs (typically 1–3% of the sale price)

• Property taxes

• Attorney fees or title fees

• Repairs, staging, or moving expenses

Knowing these ahead of time will help you avoid surprises and plan your next move confidently.

🏡 3. Buying Your Next Home: What Are Your Options?

Many seniors and retirees consider:

• Downsizing to a smaller or more manageable home

• Moving closer to family or healthcare providers

• Joining a 55+ or senior-friendly community

• Purchasing a condo or townhome with maintenance included

Whether you plan to pay in cash or explore financing options, I can help you evaluate what fits best for your lifestyle and budget.

🧠 4. Tax Implications: Will You Owe Capital Gains?

You may be eligible for a capital gains tax exemption if:

• The home was your primary residence for at least 2 of the past 5 years

• You’re selling as an individual and your profit is under $250,000, or under $500,000 if married

But every situation is different. Let’s talk to your CPA or tax advisor to make sure you’re protected.

🙋‍♀️ Final Thought: You Don’t Have to Navigate This Alone

Selling your home—especially one you’ve owned for decades—is a big decision. I’ve helped countless seniors and veterans move forward with confidence, care, and clarity.

Let’s chat about your goals and walk through your best next step—no pressure, just options.

📞 Call me at 708-249-3393🌐 www.LimitlessRealEstateInvestments.com

📌 Stay tuned for Episode 3: Showing Your Home to Sell – What Seniors Need to KnowWe’ll talk curb appeal, safety, and prepping your home to shine!

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