Planning to Retire? Your Equity Can Help You Make a Move

September 11, 2023

Reaching retirement is a significant milestone in life, bringing with it a lot of change and new opportunities. As the door to this exciting chapter opens, one thing you may be considering is selling your house and finding a home better suited for your evolving needs.

Fortunately, you may be in a better position to make a move than you realize. Here are a few reasons why.

Consider How Long You’ve Been in Your Home

From 1985 to 2009, the average length of time homeowners stayed in their homes was roughly six years. But according to the National Association of Realtors (NAR), that number is higher today. Since 2010, the average home tenure is just over nine years (see graph below):

This means many homeowners have been living in their houses even longer in recent years. When you live in a home for such a significant amount of time, it’s natural for you to experience changes in your life while you’re in that house. As those life changes and milestones happen, your needs may change. And if your current home no longer meets them, you may have better options waiting for you.

Consider the Equity You’ve Gained

And, if you’ve been in your home for more than a few years, you’ve likely built-up substantial equity that can fuel your next move. That’s because you gain equity as you pay down your loan and as home prices appreciate. And, the longer you’ve been in your home, the more you may have gained. Data from the Federal Housing Finance Agency (FHFA) illustrates that point (see graph below):

While home prices vary by area, the national average shows the typical homeowner who’s been in their house for five years saw it increase in value by nearly 60%. And the average homeowner who’s owned their home for 30 years saw it almost triple in value over that time.

Whether you’re looking to downsize, relocate to a eharmony senior dating websites, or move so you live closer to friends or loved ones, that equity can help. Whatever your home goals are, a trusted https://springhomesearch.com/christian-dating-connection/ can work with you to find the best option. They’ll help you sell your current house and guide you as you buy the home that’s right for you and your lifestyle today.

Bottom Line

As you plan for your retirement, connect with me to find out how much equity you’ve built up over the years and plan how you can use it toward the purchase of a home that fits your changing needs.

– Marcus Bruno
Real Estate Broker
Bruno Fine Properties
(281) 969-3817

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About the Broker/Owner

Marcus Bruno

Licensed real estate broker with over 20 years of experience in the industry, beginning his career in 2000 as a real estate agent and earning a broker's license in 2010. Known for a strong passion for helping people find their dream homes and negotiating the best deals. Specializing in residential real estate with extensive knowledge of the local market and trends. In 2015, a move to Houston with his family led to the opening of Bruno Fine Properties Inc in 2018—a real estate brokerage serving Spring and surrounding communities. A proud father of five beautiful girls and happily married to Malika Bruno since 2003. Outside of real estate, time is often spent with family, working out, and reading. He's always eager to meet new clients and share valuable market knowledge.

Remarkable service for remarkable you!

testimonials

When we decided to sell our home and look for a new one, we firmly resolved not to make any compromises and to settle only for the house we really wanted, with all the attributes we chose as ideal. We realized this would take a good while, and so we warned our agent that he needed to be very patient; we did not want to feel rushed. It took two whole years to find the house of our dreams and Mr. Bruno stayed the course all the way. He is like Job: perseverant to the end. Note that we only wrote one contract on a house, and it was for the one we bought, thanks to the help and guidance of our agent.

Cindy & Bruce Wein

What struck me most was that when I asked a question, I got an honest response, and when the facilitators didn't know the answer, they knew where to look up the information and get back to us about it. One of the great aspects was that there was an attorney present to give answers "from a legal point of view". Lastly, the handouts were clear and concise--really helpful and not something to put away in a binder forever and always. I would recommend this seminar to anyone who is planning to buy or sell a home and is new to the world of real-estate.

Tamika and James Wright

Marcus helped my wife and I purchase our home in 2013 and the experience was amazing! We really benefited from his vast knowledge and expertise in real estate. Marcus has a way of taking the stress out of the home buying process through patience and willingness to answer all questions in detail, no matter how many times you ask the same question. From the initial consultation all the way to the closing table, there was a very relaxed, pleasant and worry- free vibe that he created. Marcus has proven to be not just a professional but a friend who cares and we appreciate him to the fullest!

Jon Mccoy

I would like to recommend our real estate agent Marcus Bruno. Here is the review I gave him on the sale of our home.

5 stars

Marcus listened to our needs and ideas and worked as a team with us which led to a very profitable sale with minimal issues. It was a very smooth transaction. He was very pleasant to deal with and minimized stress for us in the whole process. He was also very proactive and organized in planning everything which lead to 26 showings and more than 20 people at an open house all within 2 days. We had over 9 offers from that 2 days. So we didn't have to leave the house on the market for longer than 2 days and disrupt our lives with nuisance showings. He was very savvy with negotiating, picking the best buyer, and using leverage to give us the best deal.

Nicole & Justin Adcock

Marcus paid particular attention to our specific needs in the selling of our condo. He kept our requirements in mind and provided precise and professional advice to assist us when we had to take decisions. However, what we found most helpful among the services he provided was his explanation of the entire process as we went along. He was able to answer each question in detail, and indicate the next steps to be taken.