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Selling Your Home As Part Of

Retirement

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Real Estate & Retirement

Ah, after working the past 25+ years of your adult life you can finally see it – retirement! Yes, perhaps it’s coming soon, or you have already retired and now a new stage in your life begins. For many retirees, it’s the beginning of more traveling or spending more time with the kids and grandkids, which also means selling your home for retirement.

Real Estate & Retirement

If you are selling your home for retirement here are a few things to consider helping to make the process easier and decide on the best strategy moving forward:

Real Estate & RetirementPlans After Retirement

Before selling your home, it is best to know what you are going to do and where you are going to go after your house sells. Will you be downsizing to a smaller home in the same community or selling everything and hitting the road in the RV? Maybe you just plan to travel for a year, so you’ll need a storage unit for all your belongings. Having a plan before selling your home for retirement will ease much of the stress and help budget your income from the sale of your home.

Real Estate & RetirementEquity

Do you have equity in your home? During the recession of 2008-2009, many homeowners found themselves “upside-down” in their homes, or with negative equity, meaning they owed more on their home than they could sell it for. The last several years, however, home values have been on the rise and homeowners are building their equity again. It is recommended that you have enough equity in your home to pay off the current mortgage, related fees, and taxes, and have enough left over to give a 20% down payment on your next property.

Emotionally Ready

If you have lived in your house for any length of time, selling your home can be a very emotional process, especially if you have raised your family in it. You need to be prepared to get your house ready to show to potential buyers. It is best to declutter as much as possib