Retirement May Be Changing What You Need in a Home

Retirement May Be Changing What You Need in a Home | MyKCM

The past year and a half brought about significant life changes for many of us. For some, it meant entering retirement earlier than expected. Recent data shows more people retired this year than anticipated. According to the Schwartz Center for Economic Policy Analysis, 2021 saw a retirement boom:

“At least 1.7 million more older workers than expected retired due to the pandemic recession.”

If you’ve recently retired, your home may not fit your new lifestyle. The good news is, you’ve likely built-up significant equity that can fuel your next move. According to the latest Homeowner Equity Insights report from CoreLogichomeowners gained more than $50,000 in equity over the past 12 months alone. That, plus today’s sellers’ market, presents a great opportunity to sell your house and address your evolving needs.

You Can Move Closer to the Ones You Love

The 2021 Home Buyers and Sellers Generational Trends report from the National Association of Realtors (NAR) provides a look at the reasons people buy homes. For those reaching retirement age, the number one reason to buy is the opportunity to be closer to loved ones, friends, or relatives.

If you find yourself farther from your loved ones than you’d like to be, retirement and the equity you’ve built in your home may enable you to move closer to the people in your life who matter most.

You Can Find the Right Home for Your Needs

Not only can your equity power a move to a new location, but it can also help you purchase the right size home. Lawrence Yun, Chief Economist at NAR, says many homebuyers 55 and older choose to downsize – or buy a smaller home – when they make a purchase:

“Clearly from the age patterns, young people want to upsize, and the older generation is looking to downsize. . . .”

Whatever your home goals are, a trusted real estate advisor can help you to find the best option for your situation. They’ll help you sell your current home and guide you as you buy your next one while you move into this new phase of life.

Bottom Line

If you’ve recently retired and your needs are changing, you’re not alone. Let’s connect so you can get a better sense of how to find a home that will match your situation.

Downsizing for Seniors: Less Space, But Still a Big Responsibility

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When you’re ready to move out of your long-time family home, you may be overwhelmed at the thought. While it’s true that it will take some work, you can accomplish this feat, and doing so can help you age safely for years to come. Before you make the adjustment, however, spend some time reviewing the following resources. These tips cover everything from how much you can expect to spend to relocate to how to make friends in your new neighborhood.

How Much Does It Cost To Move?

Ideally, you will walk away with equity. But you will still have to spend to make your move.

Connect With Arbor Move to Simplify the Home-Selling Process

Use a Calculator to Determine the Proceeds from Selling Your Home

How Much Does It Cost to Sell a House?

Should You Get a Mortgage in Retirement?

What Do I Do with My Stuff?

You likely have more stuff than you know what to do with. Here’s how to de-clutter, where to store your treasures, and what to do with them when your heirs are not sentimental.

How to Declutter & Downsize Your Home Effectively – 7 Essential Tips

What Do I Do with My Family Heirlooms When My Kids Don’t Want Them?

Goodwill Easter Seals Donation Sites

I’ve Moved. Now What?

First, make sure your new home is set up and laid out with your needs and abilities in mind. Then, you can get out into your new neighborhood to explore and make new friends.

How to Transfer Utilities to Your Name When Moving

Set Yourself Up with a Reliable Internet Service Provider

The Aging in Place Home: The Layout

50 Ways to Make New Friends After 50

Downsizing may be one of the best decisions you’ll ever make. But just because it’s an easy choice does not mean the transition will be simple. The best way to avoid issues is to arm yourself with information and carefully consider which steps to take to reduce stress and limit obstacles. 

Where to look for a condo that would lend itself to aging in place

We have compiled a few suggestions of single story condos around the area:

If you’d like us to modify this search for you, please reach out to and we are happy to help.