Resource Center for Senior Bay Area Homeowners

Thinking About Moving? A Guide for Bay Area Senior Homeowners

If you’re a senior homeowner in the Bay Area, you may be asking yourself: Is now the right time to make a move? Should I downsize and stay close to family and friends? Should I move out of state for a lower cost of living? Or should I stay right where I am and use my home’s equity to create more financial flexibility?

After working with many longtime Bay Area homeowners just like you, I can tell you—there is no one-size-fits-all answer. But what you do need is clarity. This page is here to walk you through the different paths you can take, the pros and cons of each, and the key financial and emotional considerations to think through.

Section 1: Should You Move or Stay?

🏡 Option 1: Downsize and Stay Local

If you’re still active and want to remain close to family, friends, doctors, or the community you’ve built for decades, downsizing locally might make the most sense.

Common Moves:

• Moving from a single-family home to a condo or townhome

• Choosing a senior-friendly home with fewer stairs, smaller yard, and less maintenance

• Buying into a 55+ community or active adult neighborhood (more on that below)

Pros:

• Stay close to your support network

• Unlock home equity while reducing ongoing maintenance costs

• Access homes with better accessibility features

Cons:

• The Bay Area is still expensive, even for downsized homes

• Competition for turnkey, single-level homes is high

• Moving is still a hassle—though there are great concierge services that can help

🌴 Option 2: Move Out of the Bay Area

Some homeowners take the equity from their Bay Area home and relocate to states like:

• Texas (Austin, Dallas, San Antonio)

• Florida (Tampa, Sarasota, The Villages)

• Nevada, Oregon, Arizona, or even internationally

Why people do it:

• Lower housing costs

• Lower or no state income tax

• A more relaxed pace of life

• More affordable retirement lifestyle

What to consider:

• Will you miss your family or community here?

• Is healthcare just as accessible and high-quality?

• Are you ready to start over in a new place?

🛑 Option 3: Stay Put, But Change Your Financial Picture

Some of my clients want to stay exactly where they are—but they feel financially “stuck” in their home. Fortunately, there are a few ways to free up cash without moving:

💸 Reverse Mortgage (HECM)

A reverse mortgage allows you to pull equity from your home without making monthly payments.

• Available to homeowners 62+

• No repayment required until you sell, move out, or pass away

• Can provide tax-free income or pay off an existing mortgage

✅ Pros: Provides financial relief without selling

⚠️ Cons: Reduces inheritance; must maintain home/taxes/insurance

🏘️ House Hacking or Taking on a Tenant

If you have an extra room, in-law unit, or ADU, you may be able to bring in rental income while staying put.

• Great for seniors who are still independent

• Might provide companionship or help with chores

• Can offset property taxes or maintenance costs

✅ Pros: Keeps you in place while generating cash

⚠️ Cons: You become a landlord, with all that entails

🧾 Sell a Portion of Your Equity to an Investor

Companies like Unison or Point will “co-invest” in your home’s future appreciation in exchange for a lump sum now.

• No monthly payments

• You pay them back (with a portion of your home’s future appreciation) when you sell or refinance

✅ Pros: No new mortgage

⚠️ Cons: You give up a portion of your future gains

Section 2: If You Do Move, What Are Your Options?

🏘️ 55+ Active Adult Communities in the Bay Area

There are several communities designed specifically for active seniors:

• The Villages Golf & Country Club (San Jose)

• Del Webb at Rancho Solano (Fairfield)

• Trilogy at Rio Vista (Solano County)

• Summerset (Brentwood)

These neighborhoods often include:

• Security and gated access

• Social clubs and community events

• Golf courses, pools, and walkable trails

• Low-maintenance homes and HOA services

Pro tip: These homes often come with HOA fees and age restrictions, so read the fine print.

🧳 Assisted Living, Independent Living & Senior Apartments

If health concerns are rising, or if you’re just ready to simplify, these options may suit you better:

• Independent Living: Apartment-style communities with meals and activities, but no medical care

• Assisted Living: More supportive care with access to nursing or medication management

• Continuing Care Retirement Communities (CCRCs): Offer a spectrum from independent living to full-time nursing care

Some well-regarded local options include:

• Terraces of Los Gatos

• Channing House (Palo Alto)

• Sunny View Retirement Community (Cupertino)

Section 3: Financial, Tax, and Emotional Considerations

💰 What About Capital Gains Taxes?

If you’ve owned your home for decades, your home’s value has likely gone way up. Fortunately, you may not owe capital gains taxes on all of it.

Here’s what to know:

• Individuals get a $250,000 capital gains tax exclusion

• Married couples get $500,000

• You must have lived in the home for 2 of the last 5 years

Still worried? A 1031 exchange may defer taxes—though it’s more commonly used by investors. A qualified tax advisor or CPA can help you explore options, especially if you’re selling a rental.

🏦 Should You Sell Your Rental?

Many Bay Area homeowners own one rental property—a condo, townhouse, or the home they used to live in.

If you’re thinking about selling it:

• Vacating tenants first will often get you a higher sale price

• Occupied homes, especially with long-term tenants, tend to sell for less and attract fewer buyers

• You may owe depreciation recapture taxes if it’s been a rental for a long time

A conversation with a real estate advisor (like me!) and your CPA can help you net the most and avoid surprises.

❤️ Emotional Considerations

For many seniors, the decision to move—or not—isn’t just about money.

It’s about:

• Leaving behind a home filled with memories

• Feeling isolated or worried about starting over

• Balancing independence with safety and community

This is why I always recommend involving family in the decision, talking through options with a trusted advisor, and not rushing the process. If you need help organizing next steps, I have resources for professional downsizers, senior move managers, and estate planners who specialize in this transition.

Section 4: How I Can Help

I’ve helped dozens of Bay Area homeowners navigate these exact decisions. Whether you’re selling a long-time family home, exploring your equity options, or looking for the right 55+ community—I’m here to help you understand your choices and make a move that supports your next chapter.

My approach is always:

• Respectful of your timeline

• Clear about your financial options

• Connected to professionals who specialize in senior moves

• Focused on what you want for the next phase of your life

Let’s Talk—No Pressure

Whether you’re just starting to think about your options or ready to make a move this year, I’d love to have a low-key conversation to answer your questions.

You’ve built a life in your home. Let’s make sure your next move—whether it’s across town, out of state, or simply into a new financial setup—feels just as right.

📞 Schedule a 15-minute call

📩 Get my free downsizing checklist for Bay Area seniors

📍 Ask about a free home equity consultation

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