Selling and buying in retirement burns anywhere from 5% to 8% in transaction costs alone, and that is before moving expenses of up to $10,000 hit the budget.
Crossing a state line resets property tax **** sments to full market value and strips Medigap of its guaranteed-issue protections permanently.
Renting for a year before buying preserves flexibility if the family relocates again and lets retirees evaluate a city on its own merits.
Read More: Learn 7 ways to generate income with a $1,000,000+ portfolio (sponsor)
The plan is one of the most common in American retirement: sell the longtime house, move near an adult child and grandkids, and buy something smaller in the same school district. Then a job offer arrives in another state, or a spouse's career pulls the family elsewhere, and the retiree holds a house bought at retirement-age prices in a town chosen for a reason that no longer exists. Almost **** ody plans for this. Here is what it actually costs and what would have to be true for the move to still make sense.
#House #selling
Crossing a state line resets property tax **** sments to full market value and strips Medigap of its guaranteed-issue protections permanently.
Renting for a year before buying preserves flexibility if the family relocates again and lets retirees evaluate a city on its own merits.
Read More: Learn 7 ways to generate income with a $1,000,000+ portfolio (sponsor)
The plan is one of the most common in American retirement: sell the longtime house, move near an adult child and grandkids, and buy something smaller in the same school district. Then a job offer arrives in another state, or a spouse's career pulls the family elsewhere, and the retiree holds a house bought at retirement-age prices in a town chosen for a reason that no longer exists. Almost **** ody plans for this. Here is what it actually costs and what would have to be true for the move to still make sense.
#House #selling
2 months ago
