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Why Selling Your Home Could Be the Key to a Happy Retirement
Selling to Retire? It Could be the Key to Your Retirement Bliss.
Retirement can feel both overwhelming and exciting. You are at a point in life where you can finally put all the work aside and do the things you’ve postponed. Whether you want to spend more time with your grand-kids, travel to all the wonderful places on your bucket list, or just attend to your business hands-on, you will need to ensure you have the capital and appropriate budget in place.
Luckily, selling your home could be the key to boosting your retirement pool and living a happy retirement period. In this article, we talk about the selling to retire, the process, and how it can benefit you. Interested in selling your house? Contact us for a free quote - no obligation, no hassle!
Boost your spending budget
Financial experts recommend withdrawing no more than 4% of your retirement money annually. This rule ensures that you stay on track with your spending habits. This can be a little constraining. However, selling a home for retirement can boost your overall savings and thus increase the 4% allocation giving you more to work with each month.
Selling your home for debt relief
With limited retirement income, you might want to cut down your mortgages and debts. In turn, you offer yourself some peace of mind. Rather than burdening yourself with debt that can legally and contractually keep you from enjoying retirement, you could sell your home. When you do, you can move into a lower-cost home or low maintenance apartment and pay off your debt.
Reduce your monthly property expenses
While saving money from your home sale to boost your spending habits, you could enhance this strategy by selling to retire to shift into a home with less monthly expenses. You expect to pay reduced utility bills and property taxes once you downsize your home.
For instance, realtors estimate the average pool maintenance to be at about $4,000 yearly. You could actually save about $20,000 in 5 years by simply offloading this maintenance burden if you move to a simpler home and utilize a community pool.
Don’t leave your family with a mortgage
You are looking at life long-term once you hit retirement age, dire as it may sound. How will your passing away affect your family? If your current home is attached to a mortgage, you risk passing the burden to your loved ones. Selling your house gives you the opportunity to look for alternative property that you can pay for cash and leave them with debt-free assets.
Boost your overall lifestyle
Retirement demands a few lifestyle changes. You no longer need four extra bedrooms or a house that resides in a great school district neighborhood. Selling your home to downsize during retirement is a sure way to reduce or eradicate your mortgage. You will also utilize your space accordingly while lowering your bills. Get the comfort and peace of mind you deserve during retirement.
Renting might benefit you
If you’ve been considering selling your home, you now have the option to rent. While renting sounds like a step backward, it gives you the option to bid goodbye on home maintenance costs. It also gives you the flexibility to switch locations and enjoy low-priced commitment leases. If you are an avid traveler, this might be the ultimate chance.
Get a Cash Offer from Flash Realty Solutions
Have you been considering the option to sell your home? Don’t worry. At Flashy Realty Solutions, we bring you a no-obligation quote for a cash offer on your home. Let us help you achieve a happy retirement period.