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

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](https://ritaus.org/2022-retirement-stats-you-should-know/) 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](https://www.simplifyingthemarket.com/2022/07/06/how-your-equity-can-grow-over-time/?a=550432-7d0dd2250a392515b4ab3273bfa644ce), and that can help you fuel your next move. [According](https://www.nar.realtor/blogs/economists-outlook/metro-wealth-reports-as-of-2022-q1) 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](https://www.corelogic.com/intelligence/homeowner-equity-insights/) the average homeowner in the United States gained roughly $64,000 in equity due to [home price appreciation](https://www.simplifyingthemarket.com/2022/07/25/whats-causing-ongoing-home-price-appreciation/?a=550432-7d0dd2250a392515b4ab3273bfa644ce). You can use your equity to help you achieve your [homeownership goals](https://www.simplifyingthemarket.com/2022/08/01/why-are-people-moving-today/?a=550432-7d0dd2250a392515b4ab3273bfa644ce). Whether you want to downsize, move closer to loved ones, or buy a home in a dream destination, your [equity](https://www.simplifyingthemarket.com/2022/07/08/why-growing-home-equity-is-great-news-if-you-plan-to-move-infographic/?a=550432-7d0dd2250a392515b4ab3273bfa644ce) 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**](https://www.simplifyingthemarket.com/2022/05/23/work-with-a-real-estate-professional-if-you-want-the-best-advice/?a=550432-7d0dd2250a392515b4ab3273bfa644ce) **today.**   ### **Bottom Line** Retirement is a big step and so is buying or selling a home. As you move into this new phase of life, let’s connect so you have an expert to 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.