LISTING YOUR HOME FOR
Retirement
For many retirees, it’s the beginning of more traveling or spending more time with the kids and grandkids, which also means selling your home for retirement..
Selling Your Home for Retirement
Ah, after working the past 40+ years of your adult life you can finally see it – retirement! Yes,
perhaps it’s coming soon, or you have already retired and now a new stage in your life begins.
For many retirees, it’s the beginning of more traveling or spending more time with the kids and
grandkids, which also means selling your home for retirement.
If you are selling your home for retirement here are a few things to consider helping to make the
process easier and decide on the best strategy moving forward:
Plans After Retirement
Before selling your home, it is best to know what you are going to do and where you are going to
go after your house sells. Will you be downsizing to a smaller home in the same community or
selling everything and hitting the road in the RV? Maybe you just plan to travel for a year, so
you’ll need a storage unit for all your belongings. Having a plan before selling your home for
retirement will ease much of the stress and help budget your income from the sale of your home.
Equity
Do you have equity in your home? During the recession of 2008-2009, many homeowners found
themselves “upside-down” in their homes, or with negative equity, meaning they owed more on
their home than they could sell it for. The last several years, however, home values have been on
the rise and homeowners are building their equity again. It is recommended that you have
enough equity in your home to pay off the current mortgage, related fees, and taxes, and have
enough left over to give a 20% down payment on your next property.
Emotionally Ready
If you have lived in your house for any length of time, selling your home can be a very emotional
process, especially if you have raised your family in it. You need to be prepared to get your
house ready to show to potential buyers. It is best to declutter as much as possible removing
any knick-knacks on shelves, photo’s off the wall, even paint over the growth chart of your kids
next to the kitchen door. As was mentioned, this can be an emotional time and It may be best to
get professionals to come in and stage the home for you.
Using a REALTOR®
Your real estate market is unique, so it is best to consult with a professional real estate agent
about the sale price of your home. A knowledgeable REALTOR® will go to work for you, using
market analysis reports, neighborhood comparisons, and recently sold home pricing, being able
to share with you what they know is top value for your home. Going off generic internet
generated reports are often misleading and can lead to false expectations.
Using a REALTOR® also includes benefits of giving you advice about updates or repairs that
will make your home more attractive to potential buyers. They market your home so that it
receives as much exposure as possible. And they schedule home showings and handle all the
required paperwork.
After the Sale
After selling your home for retirement the road is yours! Whatever it was that you had planned
to do before selling your home you now get to pursue without the burden of having a large home
to care for. Enjoy this new stage in your life and may it bring you much joy, adventure, special
moments and memories.
Ready to learn more?
I’m here to help!
Janna McRoy 208.889.9242
Janna@SolidGroundRealEstate.com
