Many homeowners are finding that they have been able to pay off their mortgage but sadly have not been able to save enough to fund their retirement. They have worked for companies which didn’t offer pensions, or other retirement fund options and they never seemed to get around to starting one at a bank or with an investment firm. So now their largest asset is the home that they are living in. And in the event that the home is paid for, then they do have access to a nice amount of money to use during retirement. The key is finding the best time to sell to get the best price possible.
The process of getting their equity or value from their home is really pretty simple. They sell the home and move to a less expensive home or to a rental home of some type. In some cases they relocate to a more affordable area while others decide to move in with family members or adult children. But the important part is that they are selling their home to have money to live on. Often, moving to a smaller home is not the solution because a newer but smaller home will cost almost as much as their current home. In these cases the retirees are forced to decide if they want to relocate or rent in their current area. All of these decisions can be overwhelming and having the advice of a professional can be very helpful and reassuring.
Some seniors are even finding that they need to go back to work part time to be able to make ends meet. They sell their home and move to a smaller one but know that an additional income will be a must. Part of the reason for this is that people are living longer and their money just is not lasting to the end of their lifetime. In addition, the cost of living and the cost of healthcare is constantly on the rise.
If you are considering selling your home to help pay for your retirement then you need to visit www.phoenixhomebuyersgroup.com/ to learn about your options and to learn about all of the services that they provide. The team of real estate professionals can assist you in accessing the current market value of your home as well as considering some renovations which could help to increase its value. They can also provide you with information about smaller and more affordable homes in the area that you might be interested in purchasing.
But the most important factor is deciding if this is the best time for you to sell or if you would like to wait for your property value to increase. The knowledge of the current real estate market in your area will be crucial in selecting the best time for you to sell. So having a real estate professional who is working with you can make a huge difference in your final retirement budget from your home.