One's home is often their biggest and most important asset in their life. But should they sell it once they retire to bolster their funds? ComparisonAdviser examines this important decision in its most recent study. REDMOND, WA / ACCESSWIRE / June 10, 2024 / A home is one of the most valuable assets people own.
As individuals transition from their working lives into retirement, a common consideration is determining whether to sell or keep the property they've owned throughout their adult life. In its most recent study, ComparisonAdviser examines the factors homeowners should consider when deciding what to do with their homes as they enter their post-working life, including specific reasons for and against selling and why it's important to seek financial advice. Click this link to access the article: https://comparisonadviser.
com/news-and-studies/selling-your-home-in-retirement . The study begins by explaining why a home can be one of the most financially significant pieces of a household's net worth. To demonstrate this, ComparisonAdviser uses data from a survey it conducted showing reported home ownership by age.
It also uses outside data both from the U.S. Department of Health and Human Services and the Census Bureau to illustrate the weight of home equity in one's portfolio, both for those with fewer assets in general and as one progresses in age.
As outlined in the study, there are various practical and financial reasons why someone might want to sell their house before e.