Golden Years, New Frontiers: The Case for Relocating in Retirement

If you're contemplating retirement or have already retired this year, it's an opportune time to assess whether your current residence aligns with the next phase of your life. Luckily, you might be in a more favorable position to transition than you think. Here are a few considerations to ponder as you determine whether selling and relocating are the right choices for you.

How Long You’ve Been in Your Home

From 1985 to 2008, the average length of time homeowners typically stayed in their homes was only six years. But according to the National Association of Realtors (NAR), that number is rising today, meaning many homeowners are living in their houses even longer (see graph below):


Residing in a home for an extended period often coincides with various life changes. As you navigate through these milestones, your needs may evolve. If your existing home no longer aligns with these changing requirements, there could be more suitable options awaiting your consideration.

How Much Equity You’ve Gained

Additionally, if you’ve been in your house for more than a few years, you’ve likely built-up significant equity that can fuel your next move. That’s because the longer you’ve been in your house, the more likely it’s grown in value due to home price appreciation. Data from the Federal Housing Finance Agency (FHFA) illustrates that point (see graph below):

While home price growth varies by state and local area, the national average shows the typical homeowner who’s been in their house for five years saw it increase in value by nearly 60%. And the average homeowner who’s owned their home since 1991 saw it more than triple in value over that time.

Consider Your Retirement Goals

Whether you're looking to downsize, relocate to a dream destination, or simply be closer to loved ones, your home equity can be a key to realizing your homeownership goals. NAR shares that for recent home sellers, the primary reason to move was to be closer to loved ones.

Whatever your home goals are, a trusted real estate agent can work with you to find the best option. They’ll help you sell your current house and guide you through buying the home that’s right for your lifestyle today.

Bottom Line

Retirement can bring about major changes in your life, including what you need from your home. Let’s connect to explore the available homes in our area.

1029 Properties
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1318 Ballota Ln North Port,  FL 34289
$384,900
Neighborhood: Cypress Falls Ph 1E
2
Beds
2
Baths
1,582
Sq.Ft.
2015
Year Built
1
Day on Site
C7488486
MLS
$449,000
Neighborhood: Port Charlotte Sub 10
3
Beds
2
Baths
1,636
Sq.Ft.
1994
Year Built
1
Day on Site
C7488554
MLS
$497,000
Neighborhood: Port Charlotte Sub 20
4
Beds
3
Baths
2,261
Sq.Ft.
2017
Year Built
1
Day on Site
N6131388
MLS
$399,000
Neighborhood: Port Charlotte Sub 49
3
Beds
2
Baths
1,818
Sq.Ft.
2018
Year Built
1
Day on Site
A4600657
MLS
$420,000
Neighborhood: Port Charlotte Sub 08
3
Beds
2
Baths
1,738
Sq.Ft.
2023
Year Built
1
Day on Site
A4599070
MLS
$99,900
Neighborhood: La Casa Mhp Co-Op
2
Beds
2
Baths
1,343
Sq.Ft.
1977
Year Built
1
Day on Site
A4600936
MLS
$375,550
Neighborhood: Port Charlotte Sub 27
3
Beds
2F11/2
Baths
2,069
Sq.Ft.
2005
Year Built
2
Days on Site
T3497186
MLS
$489,000
Neighborhood: Port Charlotte Sub 18
3
Beds
2
Baths
1,700
Sq.Ft.
2023
Year Built
2
Days on Site
A4580205
MLS
$534,000
Neighborhood: Port Charlotte Sub 08
3
Beds
2
Baths
2,192
Sq.Ft.
2004
Year Built
2
Days on Site
N6131401
MLS
$379,000
Neighborhood: Port Charlotte Sub 10
3
Beds
2
Baths
1,554
Sq.Ft.
1991
Year Built
2
Days on Site
A4600602
MLS
$699,800
Neighborhood: Warm Mineral Spgs
3
Beds
2
Baths
2,249
Sq.Ft.
2000
Year Built
2
Days on Site
C7488572
MLS
$425,000
Neighborhood: Port Charlotte Sub 06
3
Beds
2
Baths
1,738
Sq.Ft.
2024
Year Built
2
Days on Site
C7488511
MLS

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