Unlocking Your Retirement: Leverage Your Equity for a Seamless Move

Retirement is a remarkable milestone, ushering in a world of change and exciting opportunities. It's a time to embrace new experiences and consider a shift in your living situation. If you're approaching retirement, selling your current house and finding a home better suited to your evolving needs could be the perfect next step.

You may be pleasantly surprised by your readiness for this transition. Here are compelling reasons why you should consider making a move now.

Consider Your Length of Stay

The duration you've spent in your current home can significantly impact your readiness for change. Historically, homeowners tended to stay in their houses for approximately six years, from 1985 to 2009. However, according to the National Association of Realtors (NAR), this tenure has been extended since 2010. The average homeowner now resides in their home for just over nine years (see graph below):

This extended period in your current residence allows life changes and milestones to unfold. Over time, your needs and preferences may evolve. If your home no longer aligns with these changes, it may be time to explore other, more suitable options.

Evaluate the Equity You've Accumulated

If you've lived in your home for an extended period, you've likely amassed significant equity that can fuel your next move. Equity grows as you pay down your mortgage and as home prices appreciate. The longer you've resided in your home, the more substantial your equity may have become. Data from the Federal Housing Finance Agency (FHFA) illustrates this point (see graph below):

While home prices vary by location, the national average reveals that homeowners who've lived in their homes for five years witnessed a nearly 60% increase in home value. The value nearly tripled for those who've owned their homes for 30 years

Leveraging Your Equity for Retirement Goals

Whether you want to downsize, relocate to your dream destination, or live closer to friends and loved ones, your accrued equity can be valuable. This wealth can be your ticket to achieving your retirement dreams and financial security. Regardless of your home-related goals, a trusted real estate agent can assist you in selling your current house and guide you in finding the ideal home to suit your current lifestyle.

In Conclusion

As you prepare for retirement, it's crucial to connect with us so we can assess the equity you've built over the years. Together, we'll devise a plan to leverage this equity to purchase a new home that aligns perfectly with your evolving needs. Your retirement should be a time of seamless transition, and we're here to make that transition as smooth as possible.

Ready to make your move? Contact us today to discover the wealth of equity you've accumulated and embark on the journey to find your ideal retirement home. We're here to assist you every step of the way.