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Planning To Retire? Your Equity Can Help You Reach Your Goal.

Planning To Retire? Your Equity Can Help You Reach Your Goal. | Huntsville Alabama Real Estate Agent | John Wesley Brooks

Whether you’ve just retired or you’re thinking about retirement, you may be considering your options and trying to picture a whole new stage of your life. And you’re not alone.

Research from the Retirement Industry Trust Association (RITA) shows 10,000 Baby Boomers reach the typical retirement age (65) every day, and only 47% of the people in that generation have already retired.

If this sounds like you, one thing worth considering is whether or not your current home will suit your new lifestyle. If your home doesn’t have the features or benefits you’re looking for, the good news is, you may be in a better position to move than you realize.

That’s because, if you already own a home, you’ve likely built-up significant equity, and that can help you fuel your next move. According to the National Association of Realtors (NAR):

“A homeowner who purchased a typical home five years ago would have gained $125,300 from just price appreciation alone.”

In fact, over the last twelve months, CoreLogic reports the average homeowner in the United States gained approximately $60,200 in the second quarter of 2022, in equity due to home price appreciation.

You can use your equity to help you achieve your homeownership goals. Whether you want to downsize, move closer to loved ones, or buy a home in a dream destination, your equity can help get you there. It may be some (if not all) of what you’d need as your down payment on a home that better fits your changing needs.

To find out how much equity to have in your home, reach out to a trusted real estate professional today.  

Here Is The Bottom Line

Retirement is a big step and so is buying or selling a home. As you move into this new phase of life, a trusted real estate advisor like us can guide you through the process as you sell your current home and give you expert advice as you buy one that’ll better suit your needs anywhere around North Alabama.

Are you ready to chat more about it? Make sure to connect with us by phone or through social media. Remember, The Brooks Family Of Realtors has been serving the North Alabama Families since 1972.

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