If you are nearing retirement age, you are likely looking forward to at least a couple decades of rest and relaxation. The question is where this rest and relaxation will occur. Most people assume it makes financial sense to keep their home after retiring as it is their most valuable asset. The little-known truth is it often makes more financial sense to sell a home prior to retiring.
Envision Your Ideal Retirement
If you are like most people, the last thing you want to do is spend your retirement indoors at the home you have lived in for decades. You have spent enough time in your house. In fact, you might even be tired of living in this space. Selling your home ahead of retirement liberates you to travel, try new things and get the most out of life. Perhaps more importantly, selling your current home provides you with an opportunity to save money by downsizing. There is no sense living in a large house with three or more bedrooms when you are an empty-nester. Seize the opportunity to downsize to a smaller home or even rent an apartment and you will have that much more money available to live lavishly in your golden years.
Sell Your Home and use the Proceeds to Invest
Take a moment to think about all the free time you will have once you retire. This is your opportunity to analyze investment opportunities and put your hard-earned money to work for you. However, you might not have much money to invest if you stay in your current home. Downsize to a more affordable home, rent an apartment or travel for a year and you will have more than enough money to invest in stocks, bonds, mutual funds and other investments. Play the market right and you just might end up with significantly more money than you received from your home’s sale proceeds.
Sell Your Home and You Will Live Worry-free
Now that you are approaching your golden years, it is time to put away the tools and live life to the fullest. There is no sense bothering with home maintenance and worrying about something going wrong in a large house when you can downsize ahead of retirement. Segue to a smaller house, a condo or an apartment and you will have that much less to worry about in terms of maintenance. Even if you are physically capable of performing home maintenance, you will still save a bundle of money by selling prior to retirement as home maintenance/improvement has the potential to be a never-ending money pit.
Sell Your Home for Peace of Mind
Above all, the best reason to sell your home prior to retirement is to enjoy an invaluable peace of mind. The sad truth is many retirees cannot afford to live in or maintain their home. It is awfully difficult to make ends meet on a fixed income such as Social Security payments. Why bother spending your retirement worrying about finances in home larger than you need when you can downsize? Sell your home before exiting the workforce, downsize to a more affordable living space and you won’t have to worry about money during retirement.
The post Why You Should Sell Your Home Before Retiring appeared first on National Cash Offer.
source https://nationalcashoffer.com/why-you-should-sell-your-home-before-retiring/
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