Should You Sell Your Home Before Or After Retirement?

Selling your home before or after retirement can have many benefits. It may allow you to enjoy travel and a new lifestyle, letting go of the responsibilities of homeownership. It might also allow you to buy a less expensive property in a better location. There are pros and cons to each option, so it’s important to understand which one best suits your situation. Here are some tips for deciding if it’s time to sell your home.

Renting a home

While it can be difficult to leave the comfort and convenience of your home, there are many benefits to renting a home before or after retirement. Renting a smaller home may be easier to maintain and clean as you age. Renting a home before or after retirement means you will no longer be tied to a location and can explore new cities and neighborhoods. You will also no longer have to worry about dealing with house maintenance and household repairs. These factors can make a large difference to your lifestyle as you age.

Selling an investment property

There are several benefits to selling an investment property before or after retirement. The money you get from selling an investment property before retirement can be used to fund international and domestic travel, make a new purchase, or renovate your home. However, selling an investment property can be an exhausting, expensive, and stressful experience. It is often best to sell an investment property before you retire, when rental income will be more valuable to you. You should also consider the effect selling an investment property before or after retirement can have on your Age Pension entitlements.

Cashing out on equity

If you’re nearing retirement and need to reduce your monthly mortgage payment, cashing out on your home’s equity can help you do it. The money from the sale can be used to pay off debts or invest for your future. While parking your money in a savings account is a low-risk option, it also carries risks, including losing its value to inflation and not accumulating purchase power.


If you’re approaching retirement, you might be wondering if it is better to downsize your home before or after retirement. While it is possible to stay in your current home, you’ll likely find yourself in a competitive housing market if you downsize. First, get an appraisal on your current home to help you decide whether it’s worth selling or staying in. You can also look at what kind of home is right for your needs, budget, and lifestyle.

Reverse mortgage

One option is to take out a reverse mortgage, which will pay off the remaining balance on your mortgage, plus the home’s current market value. You won’t have to pay the difference between the sale price and the balance on your loan, as long as the loan is no more than 95% of the current appraised value. However, the process can be complicated and time-consuming. Using a real estate agent may be your best bet. These professionals can take care of all the details and help you price your home competitively.

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