The past year and a half have brought about significant life challenges for so many, and in some cases have brought some to decide to retire earlier than they had originally planned. It has been noted that a significant number of older workers retired earlier due to the pandemic. That may sound grim to some, but I am one for always looking at the bright side of things. While some may have felt a little uneasy about being forced to retire earlier, in some instances – that just means it’s time for you to turn the page to the “next chapter” of your life.
If you have recently retired, it’s possible you may find your home is not fitting your new lifestyle for different reasons. But there could be a silver lining in that … more than likely you have built-up a significant amount of equity which in turn, can fund your next move. With the increase of home values in our area this past year, you can be fairly certain there will be good amount of equity in your home. To figure out just how much, you may want to reach out to your local real estate professional and request a comparable market analysis so you can see what the current market value is of your home should you decide to sell.
Here are some of the benefits one can enjoy as you turn the page into retirement …
Moving closer to the ones we love – According to the National Association of Realtors, one of the main reasons why people move of those reaching retirement age is to live closer to family and friends.
If you find yourself living further away from those most important to you … retirement and the equity you’ve built into your home may just enable you to “make the move” to be closer to the ones you love.
Finding the right home –The equity in your home will not only give life to a move to a new location, but it can also help you purchase the best home that will fit your wants and needs when it comes to the size and style of the home that will be more suitable for you today and beyond. Most at this stage of their life are looking to downsize. Many who are looking to retire are thinking forward and are looking for that “one level living” home for ease of living and a better quality of life.
My best advice … whatever your real estate goals are, speak to a local real estate professional to discuss your own personal real estate goals. Some people get “stuck” in their own situation because they don’t know what their first steps should be, some claiming they don’t want to become “homeless” given the climate of today’s real estate market. Speaking to a real estate professional can ease that worry and help shed light on the process and will also be the one who can guide you every step of the way
If you’ve recently retired and your needs are changing, you are certainly not alone. Talk to a real estate professional to discuss what your best next steps for you should be.
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