Retirement May Be Changing What You Need in a Home | Simplifying The Market

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 CoreLogic, homeowners 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.

We have extensive experience with downsizing clientele 

When downsizing we recoginze that our retirement clientele want a smaller home without compromising quality.  Priorities now include a sense of community, walkable neigbhorhoods, and a finish level that makes you feel proud to come home to.  A home needs to provide comfort and style so that you can enjoy more important things, like travel and visiting with friends and family.

We have toured the entire Puget Sound Region and we can tell you quickly what areas and homes have the features and benefits that match your criteria.

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.

A Real Estate Team You Can Trust

We can help you find your next home, navigate the paperwork and understand the selling process. We’ll help you prepare your home to make a great first impression, we’ll guide you determining the market smart strategy price, we’ll maximize your buyer pool, navigate negotiations, and much more.

Jana L. Schmidt

Designated Broker

License #26632 

Tristan Fox

Residential Real Estate Broker

License #137627 

Dave Ballard

Residential Real Estate Broker

License #21013256 

Bri Little

Transaction Coordinator

License #133560