Are you getting close to retirement? If so, it’s time to start planning for your golden years. This doesn’t mean just figuring out how much money you’ll need to live on. You also need to think about things like where you want to live and what activities you want to enjoy in your free time. Does your current home suit your retirement lifestyle? If not, you may be in a better position to move than you think. Your equity can help you reach you goal!
When it comes to retirement planning, home equity can be a powerful tool. With a healthy dose of home equity, retirees can have greater flexibility and choices in how they withdraw money from their retirement accounts. Home equity can also provide a retirement income stream that is not subject to stock market volatility. And, if used wisely, home equity can help retirees minimize their tax liabilities in retirement.
According to the National Association of Realtors: “A homeowner who purchased a typical home five years ago would have gained $125,300 from just price appreciation alone.”
Retirees should consider all the ways that home equity can benefit their retirement planning before making any decisions. With a little bit of creativity, home equity can be a retirement game-changer.
If you are curious about how much your home is worth or how much equity you have in your home, we have a quick and easy way for you to find out! https://dianecastro.com/property-valuation/
Retirement is a huge step and so is buying or selling a home. A trusted real estate professional can guide you and give you expert advice as your make the transition. Castro Team would love to be that help!