Home Add to Favorite Contact Submit  
             20 September, 2019
 

    
Category:  Articles » Finances » Real-Estate

 

Real Estate Strategies for Retirees Between the Ages of 55 and 65

Popularity:
         Views: 1308
2007-11-13 06:04:02     
Article by Karen Vertigan Pope

Some questions many soon-to-be retirees are asking right now is: When is a good time to sell my home? And, is selling my home a good way to make money for retirement? This article may give you some ideas about the wisdom of selling your home.

For many people, their home identifies them as a person. Community status is linked to a home. Sweat and hard work went into improving the home. So, even if it is financially smart to sell, people want to stay in their homes as long as possible. But, when the decision is made to sell, first find a place where you would love to live. Leaving a home is much easier if you are going to a place you love.

Next, as retirement approaches, crunch some numbers to find out if you can afford to live without selling your home. Then, it won't become a necessity to sell. Try to figure out a viable budget that will work for your life style before you retire. So, when your home does sell, you will have extra money to perhaps do something you have always wanted to do.

Homes that are worth a lot of money can be used as a retirement investment, especially if the retiree doesn't mind downsizing. Even before retirement, sell your home and move to that smaller dwelling and the profits from the sale of the house can be used for your early retirement, leaving investment accounts untouched until they are needed at a later time.

Investors will advise a retiree to diversify by putting their money into a number of different investments. If one doesn't pay off, then financial ruin will not result. That also means to not put all of your investment money into a real estate project, namely a home. Besides diversification reasons, real estate can never be moved quickly, so it is not considered a liquid asset. And real estate is not a great long-term investment. Often prices of real estate stay stagnant for long periods of time.

Many retirees will purchase a second home in the place they think they would like to live out their lives, such as the beach or the mountains. Maintaining a second home can put a huge strain on the budget and because real estate doesn't sell quickly, if the retiree decides they don't like their second location; they may not be able to sell at a profit. A better suggestion is to take vacations where you think you may want to retire, to try out the area. Then, if you decide it is a perfect place for you, sell your old home before buying a new one.

Some people try to tap into their gold mine by getting a home equity loan and using that money for other investments such as the stock market. This is a good strategy if done carefully because the stock market is not a sure thing.

If you decide that selling is your best option, many real estate investors advise to cut your price early for a quicker sell rather than leaving a property on the market for a long period of time. Selling your home while home prices are down is not necessarily a bad thing, because you can buy another home for less money, too.

Manny Couto is a Real Estate Broker-Associate in Kearny, New Jersey and will be happy to answer any questions you many have about your Real Estate. Whether selling or buying contact Manny at the Rosa Agency

Karen Vertigan Pope writes for Ciniva Systems, an award winning Virginia web design company.

Specialized in: Web Business - Virginia Beach Website Design - Ciniva - Content Management System - Flash Design - Search Engine Optimization - Virginia Website Design - Chesapeake Web Design - Norfolk Web Design
URL: http://www.ciniva.com
Print article      Bookmark this page
Related Articles 
Important Tips before Purchasing Residential Properties in Gurgaon (Popularity: ): The rich can still afford buying and selling property without paying much attention to the profit or loss involved but a middle class man can’t take any risk while purchasing property as sometimes his lifetime savings are involved. Thus, before purchasing your much desired possession, your home, you need to plan and be alert. Draw comparisons: Quite obvious but always check out several properties before you choose your house whether ...
Things to consider when searching houses for rent or Rooms Aalborg (Popularity: ): Aalborg in Denmark is a great place to stay. Apart from tourists who come here to vacation there are also other people who come here to stay for a longer period for different purposes. For them it becomes necessary to take a house on rent. You got to consider a few things when looking for houses for rent or Rooms Aalborg. This will help to settle down comfortably in your ...
Rent apartments in Aarhus with more efficient agents and have an amiable stay (Popularity: ): If you are looking for a property for yourself then for sure you are not going to settle for anything than the best. It is not everyday that you go on a hunt for an apartment or a villa or simple a small flat. Once you buy it, it is for a lifetime unless you sell it. If you are searching out property for renting upon then it can surely ...
Make your bedroom cheerful and comfortable with the right mix of furniture and decor elements (Popularity: ): The decor of a bedroom essentially depends on the size of the room, the budget as well as the age and preferences of the user. However, whatever be the criteria, a bedroom can be aesthetically decorated to bring in cheer and warmth. Essentially, a bedroom for a young working couple allows a lot of experimentation and introduction of new concepts. Similarly, a large bedroom allows a lounge with comfortable seating ...
Interest Rates and the World Economy (Popularity: ): There is no effective way to measure the source of funds as well as the amount of funds each bank and lending institutions have. This would mean facing difficulty in making estimates as to the credit facilities and funds that they have available for lending to business enterprises and individuals. This could have help set the overnight benchmark interest rates. As the Federal Reserve gradually lowers interest rates, it also ...


Related Business 
Altius Directory (Popularity: ): Real estate, real estate agents, real estate listings, real estate foreclosures, commercial real estate, real estate mortgages, real estate companies, salary pay scales, insurance, real estate development, investors, property advisor, real estate marketing, real estate taxes, finance, real estate career, real estate brokers, trends, universities, real estate attorney, real estate schools and more.
Property Portal, Real Estate (Popularity: ): Real Estate Market, Buying and selling real estate, real estate, investment projects, planning, site clearance. Real estate exam, real estate, Buy Sell real estates, real estate, real estate transactions, land and house transactions, Batdongsan.
Wealth Through Real Estate Investing (Popularity: ): The real estate market has been volatile to say the least! By following our simple to understand real estate and housing investment strategies, we will show you why real estate is a great way to build wealth in good markets or bad markets!
AgentCoach Real Estate Training, Coaching and Mentoring for Realtors (Popularity: ): AgentCoach develops you and your real estate business for today and the future AgentCoach provides solutions on how to leverage the latest best real estate business systems to maximize your effectiveness in the real estate profession If you are a real estate industry leader looking for strategies, tactics, and to build skill sets that improve your business and bottom line, turn to AgentCoach and find a partner in business!
Real Estate India (Popularity: ): Realpropertyiq is your best source where you can find information and strategies to real estate property Solution and to connect relevant buyers and sellers of real-estate and enable to Buy, Sale and Rent Residential, Commercial, House Property, Apartment, Flats, Plot and many more.
Indore Real Estate - Real Estate Khoj (Popularity: ): Search Real Estate In Indore with Real Estate Khoj. The Real estate portal listing large database of all types of properties & property agents from India city wise. Please do visit the site to accomplish the real estate requirement.
Real Estate Investing (Popularity: ): It provides you information about the latest updates taking place in the real estate world. Real Estate market is gaining popularity in a tremendous way which involves how to make use of investment plans that shows Real Estate Investing. It also involves Real Estate Value that covers Property values, for any legal proceedings one would think about Real Estate Foreclosures. All these said matters related to real estate are excellently ...
Real Estate Script (Popularity: ): Real Estate Script is a complete software solution that will save your money, time and effort. And most importantly, it will boost your online real estate business and guarantee its success! The Real Estate Script is a fully scalable turn-key PHP MySQL Real Estate. Charge members to list ads or run in free mode. Best of all. The Real Estate Script comes pre-loaded with different real estate types and a ...
Radius Infra Private Ltd. (Popularity: ): Radius Infra (P) Ltd is an emerging real estate developer in Bhubaneswar. Under the flagship of highly experienced professionals and with efficient business strategies we have some of the very futuristic and mammoth real estate developments to our credits. Having a persistent and updated knowledge regarding the real estate land properties we give the best deals in premium residential apartments in Bhubaneswar.
Real Estate In India (Popularity: ): This is a blog where you can find article on commercial and residential real estate property. In this blog you can also keep in touch with profitable real estate properties also. If government of India allows real estate investment trust (REIT) and real estate mutual funds (REMF), India can overtake the Chinese attractiveness in real estate.