Mortgage
Retirement is a time for relaxation, adventure, and enjoying the things you love. As you imagine this exciting new chapter in your life, it's important to think about whether your current home still fits your needs.
If it's too big, too costly, or just not convenient anymore, downsizing might help you make the most of your retirement years. To find out if a smaller, more manageable home might be the perfect fit for your new lifestyle, ask yourself these questions:
If you answered yes to any of these, consider the benefits that come with downsizing.
There are many reasons why you should downsize. Here are just a few from Bankrate:
If those perks sound like something you’d want, you may already have what you need to make it happen. A recent article from Seniors Guide shares:
“And at a time when homeowners age 62 and older have more than $12 trillion in home equity, downsizing makes sense . . .”
If you’ve been in your house for a while, odds are you’re one of those homeowners who’s built up a considerable amount of equity. And that equity is something you can use to help you buy a home that better fits your needs today. Greg McBride, Chief Financial Analyst at Bankrate, explains:
“Downsizing can mean taking that equity when the home is sold and using it to pay cash or make a large down payment on a lower-priced home, reducing your monthly living expenses.”
When you’re ready to use all that equity to fuel your next move, your real estate agent will be your guide through every step of the process. That includes setting the right price for your current house when you sell, finding the home that best fits your evolving needs, and understanding what you can afford at today’s mortgage rate.
Starting your retirement journey? Think about downsizing – it could really help. When you're ready, let’s connect.
Stay up to date on the latest real estate trends.
2 beds | 2.5 baths | 1,386 sq ft
Homeowners today are in a much stronger financial position than they were during the 2008 crash, thanks to significant equity.
Homes are staying on the market a bit longer now that buyers have more options to choose from
By getting a head start now, you can ensure everything is in place by the time the new year rolls around.
2025 is shaping up to be a more promising year for both buyers and sellers.
You could wait, but you’ll miss out on a lot of equity if you do.
In September, the number of homes put up for sale increased by 11.6% compared to this time last year.
As home equity reaches a new height, the median down payment has too.
If you’re considering buying a brand-new home, don’t let misconceptions hold you back.
You’ve got questions and we can’t wait to answer them.