1. Gain access to your home equity
Retirees often avoid selling their homes because they wish to leave something behind for their loved ones. That’s an understandable consideration, but you must also think about the home equity you’ll gain access too, which should be nothing to scoff at.
You’d be surprised, but most adult children support this decision as it allows retirees to live stress-free with more money rather than struggling with their savings alone. Furthermore, it also means your loved ones won’t feel pressured to financially help you, meaning they can focus on building up their own wealth.
And finally, if you’re worried about inheritance, you could still leave any leftover funds in your will, which would (most likely) give your family more options. Money could help them tackle any financial matters they might be struggling with, whereas a property limits their options.
