By Larry Heller via Iris.xyz
Your home is a huge part of who you are. Whether it’s the first place you bought, or a later in life upgrade, you’ve turned four walls and a roof into a lot more than its impact on your portfolio.
But when it comes time for retirement, there are several options for people to consider when it comes to their house. While your house may have served your diligently through the years, perhaps your future doesn’t require the same 5 bedrooms and 3 baths.
And perhaps you’re torn about how to proceed with your home. If you’re looking to explore all your options thoroughly – talk to your financial advisor, but to give you some initial guidance, I’ve listed below a few things to consider when it comes to your home.
If you’re looking at your home and no longer feel it’s suits your lifestyle, then it may be time to sell. Selling is a great opportunity to get back the equity in your home, bolster your portfolio, and potentially give you the option to be mortgage free.
Opting for a smaller home with little to no mortgage can make your retirement more affordable, or give you some extra cash to finance a few more trips or that boat you’ve always wanted.
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