If retirement is on the horizon or you’ve already embarked on this exciting journey, it might be the ideal time to assess whether your current home aligns with the next chapter of your life. Moving can offer a fresh start and better suit your evolving needs. Here’s why you should consider making a move:
1. Assess How Long You’ve Been in Your Home Traditionally, homeowners would change residences every six years. However, recent trends indicate that people are staying in their homes for more extended periods. Life brings about changes and milestones, and if your current home no longer meets your needs, a new opportunity awaits.
2. Evaluate Your Equity Build-Up If you’ve been in your home for several years, you’ve likely accumulated significant equity. Over time, homes tend to appreciate in value. The longer you’ve owned your property, the more likely it is that your home has grown in value. National data shows that homeowners who’ve been in their homes for five years experienced an average increase in value of nearly 60%. This equity can be a powerful resource for your next move.
3. Consider Your Retirement Goals Retirement often comes with new aspirations. Whether you’re looking to downsize, relocate to a dream destination, or be closer to loved ones, your home equity can be instrumental in realizing these goals. Recent data indicates that many retirees choose to move to be closer to family, emphasizing the role of home equity in facilitating such transitions.
4. Consult with a Trusted Real Estate Agent Navigating the real estate market during retirement requires careful consideration. A trusted real estate agent can be a valuable ally in this process. They can help you sell your current home and guide you through the purchase of a property that aligns with your current lifestyle and retirement goals.
Bottom Line: Retirement brings about significant life changes, and your housing needs may evolve. Connecting with a local real estate agent can open the door to new possibilities, helping you find a home that complements your retired lifestyle. If you’re contemplating a move, reach out to a real estate professional to explore the available homes in your area and make the most of your retirement journey.
