Making the Right Move: Leveraging Equity for a Smooth Retirement Transition

Reaching retirement is a significant milestone in life, bringing with it a lot of change and new opportunities. As the door to this exciting chapter opens, one thing you may be considering is selling your house and finding a home better suited for your evolving needs.

Fortunately, you may be in a better position to make a move than you realize. Here are a few reasons why.

Consider How Long You’ve Been in Your Home

From 1985 to 2009, the average length of time homeowners stayed in their homes was roughly six years. But according to the National Association of Realtors (NAR), that number is higher today. Since 2010, the average home tenure is just over nine years (see graph below):

This means many homeowners have been living in their houses even longer in recent years. When you live in a home for such a significant amount of time, it’s natural for you to experience changes in your life while you’re in that house. As those life changes and milestones happen, your needs may change. And if your current home no longer meets them, you may have better options waiting for you.

Consider the Equity You’ve Gained

And, if you’ve been in your home for more than a few years, you’ve likely built-up substantial equity that can fuel your next move. That’s because you gain equity as you pay down your loan and as home prices appreciate. And, the longer you’ve been in your home, the more you may have gainedData from the Federal Housing Finance Agency (FHFA) illustrates that point (see graph below): 

While home prices vary by 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 for 30 years saw it almost triple in value over that time.

Whether you’re looking to downsize, relocate to a dream destination, or move so you live closer to friends or loved ones, that equity can help. 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 as you buy the home that’s right for you and your lifestyle today.

Bottom Line

As you plan for your retirement, let’s connect so we can find out how much equity you’ve built up over the years and plan how you can use it toward the purchase of a home that fits your changing needs.

652 Properties
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$259,900
Neighborhood: Waters Edge Ph 01 Bldg R
2
Beds
2
Baths
1,143
Sq.Ft.
1984
Year Built
1
Day on Site
D6136565
MLS
$1,673,800
Neighborhood: Gulfridge 2Nd Add
5
Beds
4
Baths
2,378
Sq.Ft.
1955
Year Built
2
Days on Site
D6136428
MLS
$600,000
Neighborhood: Live Oak Landings Ph 03
2
Beds
2
Baths
1,357
Sq.Ft.
2001
Year Built
2
Days on Site
D6136591
MLS
$210,000
Neighborhood: Tangerine Woods
2
Beds
2
Baths
1,040
Sq.Ft.
1989
Year Built
3
Days on Site
U8243181
MLS
$649,900
Neighborhood: Port Charlotte Sec 084
3
Beds
2F11/2
Baths
2,043
Sq.Ft.
1989
Year Built
3
Days on Site
C7492725
MLS
$315,000
Neighborhood: Sanctuary At Golden Tee Ph 01
4
Beds
2F11/2
Baths
1,755
Sq.Ft.
1994
Year Built
3
Days on Site
D6136449
MLS
$850,000
Neighborhood: Boca Royale
3
Beds
2F11/2
Baths
2,312
Sq.Ft.
2021
Year Built
3
Days on Site
D6136570
MLS
$325,000
Neighborhood: Holiday Mob Estates 2Nd Add
2
Beds
2
Baths
1,296
Sq.Ft.
1987
Year Built
3
Days on Site
A4610914
MLS
Open 5/19
25509 Royal Tern Ln Englewood,  FL 34223
$859,900
Neighborhood: Beachwalk By Manasota Key Ph
3
Beds
2F11/2
Baths
2,098
Sq.Ft.
2023
Year Built
3
Days on Site
O6206165
MLS
$198,900
Neighborhood: Hol Mob Estate 3Rd Add
3
Beds
2
Baths
1,296
Sq.Ft.
2003
Year Built
4
Days on Site
D6136548
MLS
$219,000
Neighborhood: Village At Wildflower Cc Ph 03 B
2
Beds
2
Baths
933
Sq.Ft.
1987
Year Built
4
Days on Site
T3486753
MLS
$169,000
Neighborhood: Oyster Creek Mhp
2
Beds
2
Baths
972
Sq.Ft.
1990
Year Built
4
Days on Site
D6136574
MLS

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