I have been a local resident for most of my life and have loved living here, The value of my home has grown so much that I feel that it may be time to cash out and retire to less expensive home. The problem is that I don’t know where to go. What would you advise? Elizabeth D.
Dear Elizabeth: This is a dilemma for many people who have been fortunate enough to have lived here and have seen their property values increase substantially, but who want to retire and use their equity to fund their retirement. Many also worry that they should sell now because this strong market may not be as strong in the future.
I would recommend that you not rush into a decision like this unless you have a good idea of where you want to move. The market isn’t likely to crash, although normal fluctuations will occur. Once you are excited about your next home, it will be much easier to make the move. Your needs rather than market conditions should direct you.