Should you sell your house to downsize for retirement?
Do you want to sell your home in retirement to downsize and enjoy a more relaxed and fun retirement? Downsizing in retirement could be the perfect way to make your golden years even brighter. As retirement draws near, many homeowners start to reconsider their living space. If you find yourself with unused rooms or too much house to manage, downsizing can bring you a lot of benefits.
- Reduced basic living costs: By moving to a smaller, cozier place, you’ll cut down on those hefty bills for heating, cooling, and maintaining extra space you no longer need. Not only will this save you money, but it’ll also reduce the time and energy you spend on household chores.
- Fewer maintenance issues: With the high costs for maintenance, downsizing is a smart way to free up funds for retirement savings or other exciting plans you have in mind. A smaller place in Atlanta means less to maintain. Plus, as we get older, taking care of a large property can become more challenging. A smaller home can make life easier and more enjoyable.
- Pay less for insurance and property taxes: Paying less for insurance and property taxes is one of the many perks of downsizing your home. When you move to a smaller, more manageable property, you’re not just cutting back on size—you’re also reducing your expenses. A smaller home typically means lower insurance premiums and property taxes, freeing up more of your budget for the things you truly enjoy, including travel, hobbies, and other adventures.
House-selling options for retirement
Work with a real estate agent.
If you’re considering selling your Atlanta home the traditional way, working with a real estate agent is a tried-and-true method. Agents offer valuable support throughout the process, helping with everything from listing and marketing your home to showing it to potential buyers and negotiating offers. They’ll guide you through each step, right up to closing.
But keep in mind that this route often comes with some added costs, like paying commissions and making repairs or paying for staging, and it can take several months to complete the sale.
Pros:
- You’ll have expert guidance every step of the way.
- Your home will be marketed to a wide audience of potential buyers.
Cons:
- There are often costs due to commissions and necessary house repairs.
- The selling process can be time-consuming and draining.
Sell to an off-market home buyer like HomeVestors®.
If you’re looking for a more straightforward and stress-free way to sell your home as you prepare for retirement, selling to a direct home buyer might be the perfect fit. House-buying companies in Atlanta like HomeVestors® specialize in making the selling process quick and easy, with no need for repairs, renovations, or staging. Plus, there are no commissions or hidden fees.
Pros:
- No repairs needed. You can sell your Atlanta home “as is” without spending time or effort on renovations.
- Avoid the hassles of a traditional house sale. Skip the stress of showings, open houses, and lengthy negotiations.
- HomeVestors provides a quick closing. Close on your home in just a few weeks and move on with your retirement plans.
Cons:
- You usually won’t get top dollar for your house, since repair expenses are figured into our offer.