With retirement comes a new and exciting chapter in your life accompanied by life-changing decisions like selling your home when you retire. Although the task might look lucrative, it’d be wise to consider certain things before embarking on this journey.
Tips for Selling Your Home When You Retire
Before you dive in headfirst and place your property on the local listing service, it’d be prudent to consider certain factors that would go a long way to make your experience easier and more worthwhile. These factors include:
Secure Your Retirement Home First
While the property value or the thrill of starting a new chapter might be soaring, it’d be prudent to secure your next accommodation and ensure it’s to your liking before selling your house. Consider if you can afford a house in the same neighborhood or if you’d need to move to a new one.
If so, this would mean familiarizing yourself with the new environment and new facilities and here is where a real estate investment company would come in handy. If you plan to move to a retirement home, you can take a trip to the home and see if it’s all that it’s cut out to be.
Getting Help from Professionals
Selling a house can be tedious and overwhelming, especially if you’ve never done it before. While the key to selling is setting the right asking price, no one is better at guiding you through this process than a realtor.
Research on Similar Properties in Your Locality and their Performance
Finding out the strength of the housing market in terms of the homes’ local value and how long it takes to offload the property can help you in timing to maximize profits gained. You can do this by checking the local multiple listing services.
Research and Evaluate the In-Between Costs
Certain costs can get overlooked when selling your house. These are expenses like real estate fees, closing costs, and even refurbishing costs. Knowing where to cut down on expenses, like working with a company that doesn’t charge any commission or refurbishing costs, is key.
Make Your Home Appealing
Investing in minor house updating through refurbishing and remodeling can go a long way to improve the property value. Check on the wear and tear of the house and fix or replace them to improve its aesthetic.
Why You Should Sell Your Home After Retirement
There are plenty of reasons that can lead to you downsizing after retirement. Some reasons could be due to unavoidable circumstances, or maybe you prefer to move to a different location when you retire. Some of these reasons include:
- Finances: With retirement comes the absence of regular monthly salaries, leading to lower-income. Selling your prized asset can go a long way in boosting your finances or even shoring up your debts.
- Health: At retirement, long gone are the days when you were energetic to perform all house chores. Age usually takes a toll on your physical strength, and it’s high time to look for a place where you can get help and care.
- Lifestyle: You can go for a change in lifestyle either for relaxation, adventure, or even to complete your bucket list. Owning a home is usually one less thing to worry about once you sell it.
Benefits of Selling Your Home When You Retire?
Some of the benefits of selling your home when you retire include:
You can get more funds to top up your superannuation. You can also use the money to enjoy your retirement.
It provides you with the option of moving into a retirement home where you enjoy your retirement years in the company of your peers, reminiscing and playing bingo.
Having a big house at this point can seem cumbersome to maintain. Selling it can free you to buy an ideal home that could be smaller, more manageable, or even at a relaxing location like by the sea.
You’ll also be able to pay off that mortgage that has been on your neck ever since you bought the house, leaving you with a sigh of relief when it’s all done and dusted.
Looking to Sell Your House When You Retire? Contact Home Buyers Express Today
Are you looking to sell your house when you retire, but you don’t know how to go about it? Look no further. Home Buyers Express got you covered. With over 20 years of experience, we have the necessary prowess to meet your needs and get you the best deal you can find in Maryland.
We don’t charge any fees, commission, or repair costs. You only choose the closing date, and we pay the closing cost.
Visit our website to learn more about our services and how we’ve helped clients in the past. You can also fill out our contact form or call 410-274-9678, and we’ll be happy to answer any questions you may have.