Whether you’ve just retired or you’re thinking about retirement, you may be considering your options and trying to picture a whole new stage of your life. And you’re not alone. Research from the Retirement Industry Trust Association (RITA) shows 10,000 Baby Boomers reach the typical retirement age (65) every day, and only 47% of the people in that generation have already retired.
If this sounds like you, one thing worth considering is whether or not your current housz will suit your new lifestyle. If your housz doesn’t have the features or benefits you’re looking for, the good news is, you may be in a better position to move than you realize. That’s because, if you already own a housz, you’ve likely built-up significant equity, and that can help you fuel your next move. According to the National Association of Realtors (NAR): “A houszowner who purchased a typical housz five years ago would have gained $125,300 from just price appreciation alone.”
In fact, over the last twelve months, CoreLogic reports the average houszowner in the United States gained roughly $64,000 in equity due to housz price appreciation. You can use your equity to help you achieve your houszownership goals. Whether you want to downsize, move closer to loved ones, or buy a housz in a dream destination, your equity can help get you there. It may be some (if not all) of what you’d need as your down payment on a housz that better fits your changing needs. To find out how much equity to have in your housz, reach out to a trusted real estate professional today.
Bottom Line Retirement is a big step and so is buying or selling a housz. As you move into this new phase of life, let's connect so you have an expert to guide you through the process as you sell your current housz and give you expert advice as you buy one that’ll better suit your needs.