
Selling your home before retirement can be a strategic move, but it's not always the right choice for everyone. On one hand, cashing in on your home's equity could boost your retirement savings, eliminate mortgage debt or fund lifestyle upgrades like travel or hobbies. Downsizing may also reduce ongoing expenses, making your retirement budget stretch further.
On the other hand, selling has risks. Emotionally, leaving a longtime home can be tough. Financially, the housing market could work against you, especially if prices are down or rents are high where you plan to live next.
Consider these pros and cons...
Pros:
• Access to equity
• Lower housing costs