Baby boomers are selling their homes so that they can pay for retirement
The former loud and chaotic domicile filled with the pitter patter of little feet has given way to vast empty hallways and tidied up rooms where your children once slept. They’ve grown up and moved out leaving you and your spouse with the title of empty nesters. The retirement world is filled with Baby boomers selling their homes, though incidentally those who decide to sell often find themselves faced with difficulty in retirement due to lack of planning. It makes perfect sense that you would sell your old home that is simply too large for two people. In short… you just don’t want or need all that space.
Here’s the mistake that too many folks make when they sell their homes just prior to retirement: they expend their equity on luxurious living and expenses during the first few years of retirement. They travel the world, indulge in senseless shopping sprees, and set no money aside for anything other than that first year of fun and excitement upon retiring. As a senior living in San Diego who’s planning to sell your home, consider using your equity wisely. Always set money aside for emergencies and save more than you planned for healthcare costs, and contemplate affordable San Diego Senior Housing.
Tips for a Senior Living in San Diego
Are you taking full advantage of all those resources at your fingertips? Now that you’ve sold your home, are you using that home equity wisely? Though it might be nice to hang up your working hat and instantly travel the globe, you need to make sure you can afford it when you factor healthcare costs into your budget. Making a budget and sticking to it is a pivotal part of living wisely in retirement. Many make the mistake of overestimating their Social Security check while underestimating healthcare costs. As a senior living in San Diego, realistic budgeting is an absolute must.
How else can you use your equity wisely? In addition to setting some funds aside for healthcare, you’ll want to invest a portion of it too. Though it may go against your grain to take a risk, don’t be so conservative in the investments that you make. Take advantage of the resources that sit in front of you such as free investment apps for your phone, financial advisors and websites that offer free information on how to invest wisely. Financial advisors can direct you towards investments that match your retirement plan
More About San Diego Senior Housing
You’ve likely figured out that your years of home maintenance are behind you, and you’re excited about that! You’re thrilled with the idea of having someone else cut the grass and do the dirty work in terms of cooking and cleaning. You have every reason to be excited – you’ve pulled your weight all those years and now you should consider San Diego Senior Housing. San Diego is one of the best cities to live in during your retirement years. Enjoy beautiful weather all year round with plenty of amenities for your to take advantage of.
The city outskirts have large lots, waterside homes, trails for exercise, along with convenient access to airports and hospitals. Geographically, retirees simply cannot wish for much more. As an added bonus, the social landscape for retirees in San Diego is thriving. With many living communities geared toward seniors, there’s something for everyone and never a lull in activity. Active Senior Programs thrive in the area, where seniors can socialize, exercise, volunteer, maintain their health, and further their education.
Baby Boomers are Senior San Diego Homeowners
Perhaps the thought of senior housing doesn’t sit quite as well with you. Maybe you’d enjoy putting some of your home equity down on that tiny countryside cottage that you’ve always had your eye on. You enjoy the thought of yard work and cooking or cleaning isn’t something that you’re willing to give up just yet. You want a place that’s removed from the hustle and bustle of the city, but one that is easily accessible. If that sounds like you, then keep in mind that buying a home is more often than not a great way to spend your money.
When you have the guidance of an expert in the area and you can purchase homes that you know will increase in value, so you can’t go wrong. Do your best to set some money aside for savings and work an affordable mortgage into your budget. As a Senior San Diego Homeowner, enjoy the peace of mind that comes with having equity in a property with an appreciating value.
When you consider the West Coast and all it has to offer, there’s simply no reason to think about relocating anywhere else. With beautiful cities nearby, wide diversity in culture, a thriving social scene and beautiful havens tucked away to retire in, there’s no better place to spend those golden years of your life. It’s no wonder that most San Diego Seniors choose to age in place!
Call me or send me an email, I’ll be happy to help you sell your home when you are ready.
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