Should I Sell My House When I Retire?

A lot of parents will start downsizing their homes when their kids have moved on and they’re left on their own. However, there are also a number that, when they retire, think about just selling their home instead so they can move to a smaller apartment and get some more money in their pockets for retirement.

If you’re thinking about selling your home once you retire, you might want to ask yourself these questions first.

1.     Do I really need to sell my house?

The decision to sell the house for retirement is often less about money and more about improving quality of life.

Maintaining a large house is not cheap, and for the elderly, it can be too much work to keep it clean and tidy.

While you don’t really need to sell your house, you can sell it to buy a smaller home, or perhaps an apartment, that’s much better suited for the kind of life that you’ll be living in your senior years. Not to mention, since you don’t have kids nor work to worry about anymore, you can choose to move away farther from the city and buy much cheaper properties.

2.     Will I need the extra money?

You might think that you’ve saved enough money for your retirement, but you’d be surprised as to how much more expensive living at home can be, especially once you no longer have a steady stream of cash coming in from your job.

This is why a lot of retirees consider downsizing and selling their larger homes for smaller apartments or houses that are farther away from the city.

Also, there are real estate properties these days that are specialized towards senior living. Some of these can have amenities that are better suited for the elderly and retirees. Consider looking into the possibility of moving into such communities once you retire.

Either way, your needs will change dramatically once you’ve retired, and since you’ll inevitably have to spend some time in the hospital, having a bit more cash than you need will always help make it easier for you to cover any future and unexpected expenses.

3.     Can I afford to fix up my old house?

Selling a house isn’t as easy as putting it up for sale and waiting for a buyer.

While it is possible to do just that, you’re much better off making a couple of renovations and repairs to make your home enticing and attractive to potential buyers. Between repair costs and maintenance, as well as hiring a real estate agent to list your house, the expenses involved when selling a home can add up rather quickly.

If you don’t have the emergency funds available, nor are you willing to spend money to renovate your home, then selling it might be difficult.

Of course, difficult doesn’t mean impossible, and there are ways to sell your home as-is for cash.

One way to sell your home fast without really doing any kind of home improvement project is to sell it to a cash buyer who will save you from the hassle of having to pay for a laundry list of expenses albeit at a much lower price.

While you may have never considered it before, selling a home once you retire can be one of the best decisions you could ever make for yourself and your spouse as you prepare yourselves for life after kids and work.

Download our
FREE Market Guide
Now

  • This field is for validation purposes and should be left unchanged.

See Our Google Reviews

Estefania Castaneda
Estefania Castaneda
17:24 04 Sep 21
Extremely pleasant, attentive to all my needs always. It was a pleasure renting an apartment from Ken.
Vichai Soysouvanh
Vichai Soysouvanh
14:17 03 Sep 21
Can't say enough about Ken and his team. This was the most seamless sale I made. I didn't have to deal with all the... nonsense that comes with selling your home. They bought my house as is, I didn't have to declutter and pay a broker commission. All in all great experience, will do business again.read more
Niki Keser
Niki Keser
17:46 06 Aug 21
I had a wonderful experience renting one of their properties for 7 months. The apartment was beautifully remodeled and... Ken and his team were always responsive to any needs. I would recommend to anyone looking to sell or rent.read more
YASMINA VASQUEZ
YASMINA VASQUEZ
15:13 02 Aug 21
Ken and his team were professionals ,they promised and they delivered or anything
Alfredo Garcia
Alfredo Garcia
03:20 17 Jun 21
Selling my property too Ken was the best thing I did. Although I was skeptical at first I soon found out how... professional he was. Even though my closing contract was not standard because of the pendemic situation. He followed through on time with all the contract terms as promised. Thank you Ken for your professionalism.Alfredo Gread more
Vishrut Patel
Vishrut Patel
23:27 19 May 21
Ken was referred to us by someone who had sold their home thru Ken last year. From the first meeting to the last... transaction, Ken and his team were professional, efficient, easy to work with, and above all.... caring. Each seller's situation is different, and Ken truly understands that. We were treated with respect each time.Since we were in a time crunch situation, selling our home with a cash offer from Ken was the best decision we could have made. We were perfectly okay with getting slightly less money for our home as compared to selling it via an agent. But if you consider the money saved on agent commissions (both buyers and sellers), closing costs, repair costs, attorney fees, and most important of all... time and headache, you can't beat the option to sell your home with a guaranteed cash offer from a reputable buyer like Ken.My wife and I were very pleased with our experience with Ken. If you are in the market to sell your home fast for a cash offer, I highly recommend giving Ken a call!Best of luck!Vishread more
Christopher Martino
Christopher Martino
14:19 10 Mar 21
Ken and his team were great. They were easy to work with, professional, and responsive. If you are thinking of selling... your home they offer a super easy process.read more
Chelsea Grant
Chelsea Grant
15:36 03 Jan 21
I am a travel nurse and stayed in a town home for 3 months... It was exactly as described and any issue that came about... was handled within a few hours - I would definitely recommend and I would definitely stay again!read more
Aaron Zachko
Aaron Zachko
12:41 14 Aug 20
Amazing experience! Ken was upfront, quick and got the deal done in no time. Having done a number of real estate... transactions this was by far the easiest and smoothest. I would unconditionally recommend him to anyone looking for an easy, quick and fair transaction.read more
Joseph Tricarico
Joseph Tricarico
19:10 26 Mar 20
Ken is a very professional individual from start to finish. As promised, he gave me a fair deal on my one of my... properties that was in rough shape. He was knowledgeable and responsive to my requests and as promised we didn't need to waste time with inspections and appraisals and we closed quickly. He made it painless as possible by having his crew handle the clean up. This was truly a quick and easy process but a professional individual. Thanks Ken!read more
Next Reviews

Site Map
Privacy Policy

Click for the BBB Business Review of Cash Buyer New Jersey

BBB RATING: A+