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.

1005 Properties
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$275,990
Neighborhood: Port Charlotte Subdivision
3
Beds
2
Baths
1,060
Sq.Ft.
2024
Year Built
2
Days on Site
C7494395
MLS
$125,500
Neighborhood: Holiday Park
2
Beds
1F11/2
Baths
671
Sq.Ft.
1974
Year Built
2
Days on Site
N6133501
MLS
Open 6/30
1447 Allegheny Ln North Port,  FL 34286
$388,000
Neighborhood: Port Charlotte Sub 07
3
Beds
2
Baths
1,559
Sq.Ft.
2003
Year Built
2
Days on Site
A4586797
MLS
$319,500
Neighborhood: Port Charlotte Sub 40
3
Beds
2
Baths
1,500
Sq.Ft.
1980
Year Built
2
Days on Site
N6132076
MLS
$375,000
Neighborhood: 1784 - Port Charlotte Sub 48
3
Beds
2
Baths
1,670
Sq.Ft.
2024
Year Built
2
Days on Site
C7494410
MLS
$559,000
Neighborhood: Port Charlotte
3
Beds
2
Baths
1,875
Sq.Ft.
2018
Year Built
2
Days on Site
C7494279
MLS
$350,000
Neighborhood: Port Charlotte Sub 25
4
Beds
2
Baths
1,800
Sq.Ft.
2024
Year Built
2
Days on Site
C7493662
MLS
$249,900
Neighborhood: Port Charlotte Sub 04
3
Beds
2
Baths
1,005
Sq.Ft.
1986
Year Built
2
Days on Site
A4614911
MLS
$295,000
Neighborhood: Port Charlotte Sub 27
2
Beds
2
Baths
1,016
Sq.Ft.
2024
Year Built
2
Days on Site
C7491054
MLS
$609,900
Neighborhood: Port Charlotte Sub 18
3
Beds
2
Baths
2,190
Sq.Ft.
2006
Year Built
3
Days on Site
A4608508
MLS
$439,000
Neighborhood: Port Charlotte Sub 35
3
Beds
2
Baths
1,752
Sq.Ft.
2023
Year Built
4
Days on Site
T3536254
MLS
$469,900
Neighborhood: Port Charlotte Sub 26
3
Beds
2
Baths
1,987
Sq.Ft.
2021
Year Built
4
Days on Site
N6133535
MLS

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