Why Selling Your Home Could Be the Key to a Happy Retirement

Retirement comes with much uncertainty. There are many decisions to be made and the free time to overthink. One of the significant decisions people have to make is about their homes. You might wonder if you need to keep your home and stay in familiar surroundings or cash out and explore. There is plenty to do, and to be happy in your retirement, selling your home might be the best choice. According to the American Association of Retired Persons (AARP), nearly 40% - 60% of retirees are not confident that they will have enough money to live comfortably. Selling your home can help fund your retirement in numerous ways, liquidizing cash to allocate towards your savings, buy a new property in full, pay off remaining debts, reinvest into other areas of your portfolio, or use as spending money. (1)

Everyone etching toward retirement will have thoughts of traveling, sitting on porches, playing golf, and hanging out with their grandkids. However, one must have some financial security to achieve this. Homeowners are lucky enough to have an asset that can help them attain this level of financial freedom by selling to Ardemis Properties. The average American has roughly twice as much value in home equity as in their retirement savings. You can free up thousands of dollars a month to steer your retirement destiny by tapping into this equity. Planning well for retirement is crucial, and here is how selling your home can be beneficial.

Maintenance is the keyword you should know as a retired homeowner. This can be very challenging and will only increase your costs. In your retirement, you won’t want to have to keep on checking on the upkeep of the house. If your current home requires you to spend a lot of time or money maintaining it, you may decide to sell it and switch to a different space. Selling your home and downsizing is the best option you can make. Trade in your pool, and you will save thousands of dollars more. The average pool maintenance (water, cleaning, and repairs) costs between $3,000 to $5,000 yearly, meaning that in 5 years, you can save $25,000 by using a community pool instead of having your own. Sell my house fast Newnan to us today.

Many retirees enter that stage of life with debts. Mortgages usually take a long time to pay, and you can escape this significant expense by selling your home. Selling your home will allow you to purchase a less expensive property. That will relieve you of making large mortgage payments with your limited retirement income (investments, social security, and limited withdrawals from savings. Financial advisors have noted that most people don’t want to carry mortgages into retirement. No matter what debt you have, selling your home to cash home buyers can help to pay them off. 

A common notion is to leave your family a good house. However, sometimes that doesn’t work out well. Any debts the house incurs and the mortgage will be passed down to them. Your home could burden your family with monthly payments until they can sell the house. This not only reduces the inheritance passed down but also adds a layer of financial stress to the emotional loss of a loved one.

We buy houses Newnan can help you leave your family with a vital asset. You can downsize to a new home and pass it down to your children with a limited tax liability by expressing the property transfer in your estate management.