Retirement: Selling Your Home or Keeping It

June 29, 2016 by  
Filed under Real Estate

retirementWhen you retire you face some difficult decisions as a homeowner.

When you’re on the verge of retirement, you’re face with multiple options in regards to your home. You can keep your current home or you can sell it and downsize. Either way is catered to your preferred lifestyle so it would be wrong to say that one option is better than the other. However, it’s important that you keep your finances in mind as it does play a large role in figuring out with option is best for you.

Lifestyle Changes

If your children have all moved on from your household and are now living on their own, you may have excess space that you are paying for. This is where downsizing to a smaller home comes in handy. You will garner extra money from your home that you have gathered throughout the years – assuming it’s been kept in quality condition – and be able to find a smaller home that s best suited for you.

Memories

Parting with a home may be an emotionally difficult thing for you to do, especially if you have gone through significant events there. Now, if you do have the finances to afford your home and still be able to enjoy your retirement, then why not? It’s your home after all, if you can maintain the same lifestyle and fully integrate your retirement at the same time, there should be nobody stopping you from making this decision. However, be sure that you consider all financial factors before. But, you can also downsize in the future if you decide to.


Kuba Jewgieniew is the head of Realty ONE Group, a real estate brokerage firm that has offices in California, Nevada, and Arizona.

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