Ah, after working the past 25+ years of your adult life you can finally see it – retirement! Yes, perhaps it’s coming soon, or you have already retired and now a new stage in your life begins. For many retirees, it’s the beginning of more traveling or spending more time with the kids and grandkids, which also means selling your home for retirement.
If you are selling your home for retirement here are a few things to consider helping to make the process easier and decide on the best strategy moving forward:
Plans After Retirement
Before selling your home, it is best to know what you are going to do and where you are going to go after your house sells. Will you be downsizing to a smaller home in the same community or selling everything and hitting the road in the RV? Maybe you just plan to travel for a year, so you’ll need a storage unit for all your belongings. Having a plan before selling your home for retirement will ease much of the stress and help budget your income from the sale of your home.
Do you have equity in your home? During the recession of 2008-2009, many homeowners found themselves “upside-down” in their home