1. When am I considered a Senior?
The first time you were called a senior, you were probably 17-19 years old, in your last year of high school : Very Little Baggage. Historically if you are a father and decided to duplicate and your entire name for a son, well then, you could say you were a senior: starting to collect that baggage even if so awesome.
Along the way, you can gain senior designation through your employment or accomplishments : think Sr. Loan Officer – for example. Yeah, better job, ability to get even better baggage.
Senior citizen discounts start at around age 50 with a tiered set of benefits for each bench-mark. AARP has hunted you down for membership and is sharing every discount they think you should use. Not going the AARP membership route? Then just check out dealhack.com to learn about senior discounts to specific restaurants, stores, travel, and more.
Senior Age Tiers used for discounts and credits are typically set at 50,55,60,62,65 and 85.
2. Does South Carolina have any Senior Tax Credits?
Yes, currently there are two to be aware of.
The Homestead Exemption is a complete exemption of taxes on the first $50,000 in Fair Market Value of your Primary Legal Residence for homeowners over age 65, totally and permanently disabled, or legally blind. This relates to property taxes.
South Carolina Residents over 85 can receive a 1% exclusion that applies to the general state sales tax rate of 6%; persons 85 and older may pay 5% instead of 6% (though applicable local sales and use taxes also apply). The 5% rate (plus local rates) applies to purchases of tangible personal property, such as food, clothing, and furniture. The 85+ senior must request the 1% deduction prior to purchase and must be able to show identification. This relates to sales tax.
3. Do I need a Senior Real Estate Specialist?
You ultimately will make that decision.
I’m proud to be a Senior Real Estate Specialist because, first and foremost, I too, am a Senior. SRES is a Certification that involves a deep dive into the ways that making real estate moves is not the same as purchasing a home in our more naive years. Changes are more complex, with a lifetime of history and treasured baggage. All of a sudden, selling a home makes us pause to consider all of our next moves, and the lifestyle that we truly dream of. It no longer is a simple equation of house-house+house=house. The shape “home” takes on now includes additional options of 50+ communities, 62+communities, active and assisted lifestyles. It can include condos and town homes where you might now lock and leave without the worries of maintenance and upkeep outside your walls. Maybe it’s life on a boat!
There are financing tools available to seniors that you may not even have heard of. You may have heard of Reverse Mortgages, but not HECM for purchase instruments. You might not need any of them, but why not know all your options?
As an SRES, I provide a network of service providers to help you get beyond the excuse of why you are not selling – so you can move onto your desired life. Do you need an Elder Estate Attorney to help you work through your long range legal needs? Do you need someone with vision and resources to get your home ready for the market? Do you need someone to help you purge the baggage of life, while determining the most important items to move in your life with you. IS it just getting rid of stuff? Is it the concept of what if I sell my home and have nowhere to go? What if I need the funds out of my equity to buy a new home before mine sells?
These are the questions you should be asking me.
SRES = Solutions and Options Relative to Senior Lifestyle Dreams.
4. I just moved here and don’t know where to start with finding Senior oriented services and events.
to refer you to Seniors Engage emails to know of daily events for Seniors
5. I need to find an elder attorney.
: I’ll refer you to a few.