Should You Sell Your Home Before Retiring?

Selling your home before retirement can be a strategic move, but it’s not always the right choice for everyone. On one hand, cashing in on your home’s equity could boost your retirement savings, eliminate mortgage debt or fund lifestyle upgrades like travel or hobbies. Downsizing may also reduce ongoing expenses, making your retirement budget stretch further. On the other hand, selling has risks. Emotionally, leaving a longtime home can be tough. Financially, the housing market could work against you, especially if prices are down or rents are high where you plan to live next.

Consider these pros and cons:

Pros:

• Access to equity

• Lower housing costs

• Easier to maintain a smaller home

Cons:

• Emotional ties to your current home

• Unpredictable housing market

• High costs to buy or rent again

Before making a move, evaluate your long-term plans, budget and lifestyle goals. Talk with a financial advisor to explore how selling might affect your retirement security. With careful planning, this decision could help you simplify your life and maximize retirement freedom.

Regardless of your timing, I'm always happy to discuss options and a process that can best suit your unique situation and lifestyle.