Planning to Retire? Your Equity Can Help You Make a Move.
Are you approaching retirement and contemplating your next big life step? Your home, a treasure trove of equity, could be the key to unlocking your retirement dreams. In this quick read, we’ll explore how you can leverage your home equity for a smooth transition into retirement.
Consider Your Time in Your Current Home
In the past, homeowners used to switch residences every six years on average, from 1985 to 2009. But times have changed. According to the National Association of Realtors (NAR), since 2010, the typical homeowner now resides in their abode for a little over nine years. Extended stays often lead to life changes, and as your needs evolve, your current home may no longer align with your goals.
Unlock the Potential of Your Accumulated Equity
If you’ve called your house “home” for more than a few years, chances are you’ve amassed a significant nest egg of equity. Equity grows as you pay down your mortgage and as home values appreciate. The longer you’ve lived in your current abode, the more you may have accumulated. Nationally, homeowners who’ve lived in their homes for five years have seen their home values rise by nearly 60%, on average. Meanwhile, those with 30 years of homeownership have seen their properties almost triple in value.
Embark on Your Next Life Chapter
Whether you’re aiming to downsize, relocate to your dream destination, or move closer to friends and family, your home equity is a potent resource. It can pave the way for the lifestyle you desire in retirement. A trusted real estate agent can be your guiding light in this journey. They’ll assist you in selling your current property and steer you toward the perfect home that suits your evolving needs.
As you prepare for retirement, reach out to a local real estate agent, like me. They can help you discover just how much equity you’ve amassed over the years and craft a strategy to leverage it for the purchase of a new home that perfectly complements your changing lifestyle. Your retirement dreams are well within reach, and your home equity is the key to making them a reality.