After the final kid moved out and you started thinking about downsizing, you’ve been on the lookout for the perfect retirement home to spend your golden years. Now that you’ve looked at a few places and have a good idea of what you want, it might be time to make a move. Here are some indications you’re ready to extend an offer on your dream retirement home.

How You Know You’re Ready to Make an Offer

1. You Have a Down Payment

How much you’ll need depends on the house and type of loan you’re approved for, but it’s smart to have at least 20% of the total loan amount saved up for a down payment. If you’re financially ready to buy a house, that’s a telltale sign you’re ready to pursue a new home.

2. You Have Good Credit

The bank uses your credit score to judge whether or not you can be approved for a loan. Most banks approve loans if you have a credit score of 650 or higher; the better the score, the better the interest rates. Having good credit puts you in a favorable position for a loan.

3. You’re Preapproved for a Loan

Most sellers look for buyers that have already been approved for a loan — some even require it. Being preapproved means you’re financially ready. Once you have proof — the preapproval letter from your bank — you’re set to make an offer on a retirement home.

4. You Feel It

You may be financially ready to purchase a house, but when it’s your retirement home, ensure you pick the right place to live. It may take a few showings, but you develop a sense of what you want; from there, you’ll find the one. If you feel emotionally connected to it, can imagine yourself living there, and don’t want to leave, make an offer.

For help finding the perfect retirement home, turn to Traditional Trades Inc. They’ve been serving Onalaska, WI, for over 27 years and can help you find the right senior living community to settle into. Whether you’re looking for a home or luxury apartment rental, they can set you up with whatever suits your needs. To learn more about what they have to offer, visit their website or call (608) 783-4785.