4 Reasons to Sell Your Home When You Retire

Retirement is now knocking your door. What’s your plan after your long time employment? Would you like to spend your free time to travel or to relocate to an active-adult community?

While identifying these future plans is essential, weighing your financial capacity is also indispensable. Remember that you’re about to stop working and your stream of income is limited so having the means and budget to take the plunge must be available.

Why Should You Sell Your Home When You Retire?

Whatever your retirement looks like, determining whether to downsize or sell your home is a must. Some Americans choose to sell their houses and take a different route while others would to live and stay forever .

If you are not sure why you should downsize and sell your home when you retire, here are four ideal reasons you must.

You’re paying Hefty Sum of Property Taxes.1. You’re paying Hefty Sum of Property Taxes

Depending on where you reside, you may be charged a hefty amount for your annual property tax. If you plan to move to another cheaper state, you will surely save around $15, 000 yearly.

If you’ll transfer to West Virginia, you’re going to save much compared to staying in the same type of home in New York.

Think about this. Staying in the same state for the coming years would cause pain in the pocket. Save yourself from big taxes and live an ideal and stress-free life after you retire.

Your House Needs Repairs.2. Your House Needs Repairs

If your old house needs frequent repairs and revamps, the upholding cost can roughly cost you double. Here are 10 common things you should prepare in your house. 

Doing DIY repairs is also a hassle. In other words, maintaining your ancestral house isn’t worth your time and effort.

Why not transfer to a newer property that needs less maintenance? According to the National Association of Home Builders, most homeowners, who decided to move to turnkey property, only spend below $25 for routine repairs.

You will surely get surprised of your savings when you leave your old and wrecked home for a new and turnkey one.

Your House Requires Regular Maintenance3. Your House Requires Regular Maintenance

Aside from doing regular repairs, you are also responsible for doing the regular maintenance of your house. This includes shoveling the snow, cleaning the gutters, and mowing the loan.

If you’re tired of being an owner and doing all these manual labors stress you out, you may want to transfer to an apartment where the property management or landlord is responsible for these chores.

You’re All by Yourself.4. You Want a New Lifestyle

Have you already foreseen your retirement lifestyle? Some homeowners take this chance to travel. If you’re one of them, think in advance.

A travel vacation requires money to pay for your expenses. One of the options you can do to free up cash is to sell your home.

Read: 9 Best Countries to Spend Your Retirement 2016

However, before you make your house for sale, review your and calculate your living expenses. How much have you spent for the past 12 months? Once you have identified your everyday expenditure, sum it up with the supplementary budget you need for your travel.

Estimate your future expenses so you won’t get short of the budget while you’re on the trip.

While it’s hard to leave the home where you spend almost your lifetime, stabilizing your lifestyle make sense especially now you are about to retire.

Selling your home is the ultimate option. Learn the perfect time to sell your house here to get its best value. If you want to sell your house fast, call The Cash Home Buyer.

Call The Home Buyers to get a free quote for your property. We understand that you want to retire with a pocket full of wealth. We are here to buy your house and send you the money just in days.

Feel free to enter your details in our contact form so we can assist you with your needs.

5 Easy Steps to Successfully Downsize your Home

Downsizing a home usually, leads to stress and anxiety. While you love your home and all your stuff, it’s time to trim down and move to a smaller space. However, this small move comes with a big decision. This actually one reason why Americans sell their home.

If you find it hard to decide when and how to downsize, here are things to consider on helping you successfully navigate the transition.

Identify Reasons for Downsizing,1. Identify the Reasons for Downsizing

Why are you downsizing? Homeowners have varied reasons for moving to a smaller home. Some have kids going to college. Elders and retirees find it stressful to climb stairs. While others just want to avoid the daily maintenance of a huge property.  Or you just want to save for the future.

Reasons vary from person to person and it’s important to identify them before you make a move.

Determine Your Savings.2. Determine Your Possible Savings

Moving out from your family’s home doesn’t mean you’ll save enough. This is a common delusion among homeowners. If you relocate to a smaller property in an area with a high cost of living, probably your bills will skyrocket.

If you want to make a long-term investment, move to a smaller property where you can gain big savings.

De-clutter, Sell, and Purge.3. De-clutter, Sell, and Purge

Downsizing means parting away from your old stuff. A smaller house can’t accommodate all your belongings so it’s time to shed the excess.

You can either sell your stuff online or on a garage sale or donate your unwanted items. Donating your stuff will give you a tax deduction in the future so better save the receipt.

If you can’t live without your belongings, which you’ve accumulated for decades, find a storage solution. However, this may cost you double. The key is to sell and purge your items for a good amount than keeping things that won’t be of value.

Know Where to Move.4. Know Where to Move

There are several factors to consider before making a move. If you are a retiree, it’s important to check the proximity of your prospect from your relatives and health care. Contrary, if this is not a concern, transfer to a place where the cost of living is cheaper than your current residence.

The golden rule is to move to a place where you can make big savings.

Sell your house5. Sell Your House

If you have identified the above criteria and have made a final decision, then it’s now time to sell your home. This may seem a long and haywire process for new sellers but there are bunches of ways to help you jumpstart. You can hire a real estate agent, sell your home yourself, or deal with a cash home buyer.

Home selling is a long challenging process so make sure to prepare yourself for this daunting task.

Downsizing doesn’t have to be horrible and aggravating. Parting with the home you’ve invested for decades can be difficult but it paves the way to a welcoming future.

If you want to downsize and sell your home fast, contact The Home Buyers. We close a deal within 7 days without any hassle so you can definitely transfer to your new haven. Contact us now.