Ways to Use Home Equity Towards Retirement

Ways to Use Home Equity Towards Retirement? What is home equity and how can you use it? I help many Main Line seniors and those looking to downsize strategize when the best time to sell is. Much of this can depends on home equity. In the past few years with home prices skyrocketing, especially in The Main Line. Also, According to the latest Equity Insights Report from CoreLogic, the average borrower with a home loan has almost $300,000 in equity right now. If you still owe on your home and would like to downsize this is an ideal time to make the move. Your equity could cover some, the majority or all of your next home. If downsizing is a bit further away on your timeline, consider making improvements to your home that offer high return on investment like putting in hardwood floors, replacing a roof, or making structural improvements. Alternatively, you could use the equity to make universal design and aging in place improvements to your home. Lastly, you can leverage home equity line of credit to buy into an aging in place community. There are incredible opportunities on The Main Line for aging in place. Truly some of these are closer to luxury hotels than what you would consider to be 55+ communities. Many of them also are selling out. If you would like to know more about aging in place communities on The Main Line, selling Main Line homes, downsizing on The Main Line, and what your home is worth in today’s market, please reach out. I specialize in downsizing seniors and Main Line real estate and my strategies go far beyond how to use home equity to your advantage. Let’s take this next step together.

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