If you’re thinking about retirement or have already retired this year, it’s a good time to consider if your current house is still a good fit for the next chapter in your life. Facing retirement? Here’s why moving might be the perfect next step in Roseburg OR.
Fortunately, you may be better positioned to make a move than you realize. Here are a few things to consider as you decide whether moving locally or relocating is right, or if you should stay put.
Homeowners Are Moving Less Frequently | How Long Have You Been in Your Home?
It’s interesting, between 1985-2008, the average length of time homeowners would live in their homes was only six years. But according to the National Association of Realtors (NAR), that number is getting bigger… meaning many homeowners are living in their houses even longer (see graph below):
When you live in a home for a significant period, it’s natural for you to experience several changes in your life while you’re in that house. As life changes and milestones happen, often around retirement age, your needs may change. And if your current home no longer meets them, you may have better options waiting for you.
This is one reason that, when it comes time to consider retirement and your options for moving or your desired living situation, it’s a good idea to talk to a Seniors Real Estate Specialist (SRES) designated real estate broker in Roseburg OR.
How Much Equity You’ve Gained
In addition, if you’ve been in your house for more than a few years, you’ve likely built up pretty significant equity that can empower your next move. That’s primarily due to the above-average home appreciation we’ve experienced over the past several years. How much your home would sell for in today’s market?
The longer you live in your house, the more likely it’s grown in value due to home price appreciation. Data from the Federal Housing Finance Agency (FHFA) illustrates this point (see graph below):
While home price growth varies by state and local 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 Roseburg OR is very close to that number on average.
Did you know that the average homeowner who’s owned their home since 1991 saw it more than triple in value over that time? One more reason owning a home makes sense when it comes time to retire or plan your lifestyle after retirement in Roseburg OR.
If you have questions about your Douglas County OR home value, shoot me a message.
Consider Your Retirement Goals
Whether you’re looking to downsize, relocate to a dream destination, or you’re considering moving closer to loved ones, your home equity can be a key to realizing your homeownership goals. NAR shares that for recent home sellers, the primary reason to move was to be closer to loved ones.
Whatever your home goals are, I’d like to be your trusted real estate agent to help you work through the best option. I’ll help you sell your current house and guide you through buying the home that’s right for your lifestyle today.
Bottom Line
Retirement can bring about major changes in your life, including what you need from your home and where that home will be located. If moving might be on the table, let’s connect to explore the available homes in or around Roseburg OR or in the city or state you desire to relocate to.