How Home Equity Can Help Fuel Your Retirement

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  How Home Equity Can Help Fuel Your Retirement If retirement is on the horizon, now’s the time to start thinking about your next chapter. And you probably want to make sure you’re set up to feel comfortable financially to live the life you want in retirement. What you may not realize is you likely have a hidden goldmine of cash you’re not thinking about — and that’s your home.  Data  from the  Federal Housing Finance Agency  (FHFA) shows that home values have gone up nearly 60% over the last 5 years alone (see graph below): And that appreciation gave your net worth a big boost. According to  Freddie Mac , over the same five-year period: “ . . .  Boomer overall wealth increased by $19 trillion, or $486,000 per household, half of which is due to house price appreciation.” So if you’ve been in your house ever longer than that, chances are you have even more equity in your home. If you want to have access to more of the wealth you’ve built up throughout t...
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Signs it’s Time to Buy a New Home

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Sometimes we wait until what we think is the “exact right moment” to buy a new home. We’re waiting for a sign, a slap in the face, or writings on the wall to tell us it’s time to move. Whether you’re itching to get out of your apartment, or outgrowing your starter home, it could be the right time for you to start packing.

Wishing to Entertain More

The older we get, the more we entertain at home. Dinner parties, entertaining at holidays, and friends stopping in calls for the space to have people over. Having space in a kitchen, maybe with a butler’s pantry or wet bar could be what you’re needing. Building a new home allows you to customize your kitchen to fit the needs of your family.

Office Space

Many jobs have the ability to work from home some, or all of the time. Studies show that working from other use spaces like the couch or kitchen table can be bad for your productivity. The couch is a place you nap, watch TV, or hangout in. This can confuse your brain when it’s time to work, and when it’s time to relax and chill out because you’re doing everything in the same space. Consider a space where you can totally devote to things like work, paying bills, and organization. It doesn’t have to be a whole room, and your new home designer at the builder’s showroom can help you choose the best option. 

Need more Bedrooms

A time when many people move to a new house is when they start having children, or when the family grows. Having an extra bedroom, play area, or extra bathrooms can be extremely beneficial when having a child. This can help with keeping your home organized so toys aren’t everywhere, and you can have your own space as well.

Celebrating a Life Accomplishment

Maybe you just got that big promotion you’ve been working so hard for, or your own business is finally taking off. You’ve earned it! With your new space, choose a home with features you’ve always wanted: a big walk in closet, or cozy standalone tub. Building a new home allows you to select those perfect additions that can turn your dreams into your reality.

Outgrowing Your Current Space

When you’ve outgrown your current home or apartment, you’ll know. If your home is overstuffed, you’ve probably accumulated lots of older, unused items. A new house can be a great time to sort through everything and keep what you actually need and use. New spaces to fill can help you really prioritized those treasured items. You may have also outgrown your current neighborhood. That downtown section may have been great when you first started your career, but it might be time to have more land to settle into. You might be an empty nester and looking for less maintenance.

Original Article via newhomesandideas.com

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