Planning to Retire? It Could Be Time To Make a Move.

Planning to Retire? It Could Be Time To Make a Move. | MyKCM

Is it time to retire? If you’re thinking about retirement or have already retired this year, you may be planning your next steps. One of your goals as you retire could be selling your house and finding a home that more closely fits your needs.

Fortunately, you may be in a better position to make a move than you realize. Here are a few things to think about when making that decision.

Consider How Long You’ve Been in Your Home

From 1985 to 2008, the average length of time homeowners typically stayed in their homes was only six years. But according to the National Association of Realtors (NAR), that number is rising today, meaning many homeowners are living in their houses even longer (see graph below):

Planning to Retire? It Could Be Time To Make a Move. | MyKCM

When you live in a home for a significant period of time, it’s natural for you to experience a number of changes in your life while you’re in that house. As those life changes and milestones happen, your needs may change. And if your current home no longer meets them, you may have better options waiting for you.

Consider the Equity You’ve Gained

Additionally, if you’ve been in your home for more than a few years, you’ve likely built up significant equity that can fuel your next move. That’s because the longer you’ve been in your home, the more likely it’s grown in value due to home price appreciation. Data from the Federal Housing Finance Agency (FHFA) illustrates that point (see graph below):

Planning to Retire? It Could Be Time To Make a Move. | MyKCM

While home price growth varies by state and local area, the national average shows the typical homeowner who’s been in their house for five years saw it increase in value by over 50%. And the average homeowner who’s owned their home for 30 years saw it almost triple in value over that time.

Consider Your Retirement Goals

Whether you’re looking to downsize, relocate to a dream destination, or move so you live closer to loved ones, that equity can help you achieve your homeownership goals as you retire and transition. NAR shares that for recent home sellers, the primary reason to move was to be closer to loved ones. Plus, retirement played a large role for those moving greater distances.

Whatever your home goals are, a trusted real estate advisor can work with you to find the best option. They’ll help you sell your current house and guide you as you buy the home that’s right for you and your lifestyle today.

Bottom Line

Retirement can bring about major changes in your life, including what you need from your home.

Let’s connect to explore your opportunities in our local market and to simplify your move so you can retire on your terms. Contact us today at (440) 628-1321

Here are a few more helpful articles for those looking to retire

How to Use Your Home Equity to Retire in Style in North Royalton

7 Ideas To Help Retirees Downsize In Broadview Heights

How to Know if it’s Time for You to Sell a Home in Richfield

3 Ways You Can Use Your Home Equity

Northeast Ohio Cities We Buy, Build & Sell Houses In…

If you are looking for a home in northeast Ohio, there are many options available to you. You can find suburban homes with large yards and easy access to highways, or homes in downtown areas with close proximity to restaurants and nightlife. No matter what your needs are, there is sure to be a home for sale that fits your criteria. Click on any city link below to see homes for sale in your city of choice.

Homes For Sale In Highland Heights OH

Connect With Us!

If you're looking to buy land, build new construction, sell your house or buy a house... connect with us today!

If you want money fast, don't deal with the selling process — we offer cash for home and land. Have money in-hand as soon as a week or two.

How Can We Help You?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.
    (check all that apply)
  • This field is for validation purposes and should be left unchanged.

Leave a Reply

Your email address will not be published.