Retiring Soon? Why Moving Might Be The Perfect Next Step

If you’re thinking about retirement or have already retired this year, it’s a good time to consider if your current house is still a good fit for the next chapter in your life.

Fortunately, you may be in a better position to make a move than you realize. Here are a few things to think about as you decide whether or not to sell and make a move.

Duration of Homeownership:

  • The average length of time homeowners stayed in their homes increased from six years between 1985 and 2008.

  • Many homeowners are now living in their houses for longer periods, suggesting a trend of increased home tenure.

Life Changes and Milestones:

  • Living in a home for an extended period often coincides with various life changes and milestones.
  • As individuals experience these changes, their housing needs may evolve, potentially necessitating a move to a different type of residence.

Equity Accumulation:

  • Homeowners who have lived in their homes for several years are likely to have built up significant equity.
  • The longer the homeownership, the more the home may have appreciated in value, contributing to substantial equity gains.

Home Price Appreciation:

  • The national average indicates that homeowners who have owned their homes for five years experienced an increase in value of nearly 60%.
  • Homeowners who have owned their homes since 1991 saw their homes more than triple in value over that time.

Retirement Goals and Home Equity:

  • Home equity can play a crucial role in achieving retirement goals, whether it involves downsizing, relocating to a dream destination, or being closer to loved ones.
  • According to the National Association of Realtors (NAR), being closer to loved ones is a primary reason for recent home sellers to move.

Real Estate Agent Assistance:

  • A trusted real estate agent is recommended to assist individuals in selling their current homes and guide them through the process of buying a new home that aligns with their lifestyle and retirement goals.

Conclusion (Bottom Line):

  • Retirement can bring significant changes, including shifts in housing needs.
  • Connecting with a local real estate agent is advised to explore available homes in the area and make informed decisions.

Let's talk more about if making a move is right for you! 

Real estate photo
 Lainey Jones - REALTOR®
 Great Life RE / Real Broker
 (865) 356-5003
 (844) 591-7325

Eleanor Cippel - REALTOR®
Great Life RE / Real Broker
(865) 712-3656
(844) 591-7325

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