Planning to Retire? It Could Be Time To Make a Move to South Carolina!

If you are thinking about retirement or have already retired this year, you may be planning your next steps. One of your goals could be selling your house and finding a home that more closely fits your needs. Fortunately, you may be in a better position to make a move than you realize. Here are a few things to think about when making that decision.

Consider How Long You’ve Been in Your Home!

From 1985 to 2008, the average length of time homeowners typically stayed in their homes was only six years. According to the National Association of Realtors (NAR), that number is rising today, meaning many homeowners are living in their houses even longer.
When you live in a home for a significant period of time, it is natural for you to experience a number of changes in your life while you are in that house. As those life changes and milestones happen, your needs may change. If your current home no longer meets your needs, you may have better options waiting for you.

Consider the Equity You’ve Gained
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Additionally, if you have been in your home for more than a few years, you have likely built up significant equity that can fuel your next move. That is because the longer you have been in your home, the more likely it has grown in value due to home price appreciation. Data from the Federal Housing Finance Agency (FHFA) illustrates that point (see graph below):

While home price growth varies by state and local area, the national average shows the typical homeowner who has been in their house for five years saw it increase in value by over 50%. And the average homeowner who’s owned their home for 30 years saw it almost triple in value over that time.

Consider Your Retirement Goals

Whether you are looking to downsize, relocate to a dream destination, or move so you live closer to loved ones, that equity can help you achieve your homeownership goals. NAR shares that for recent home sellers, the primary reason to move was to be closer to loved ones. Retirement also played a large role for those moving greater distances.

Whatever your home goals are, I can work with you to find the best option. I can help you sell your current house and guide you as you buy the home that is right for you and your lifestyle today. Retirement can bring about major changes in your life, including what you need from your home. Let’s connect to explore your opportunities in the Myrtle Beach Market.