How to Sell Your Home After Retirement?

Understandably, you’d want to sell the home after retirement and move to a more suitable one now that it’s going to be the two of you most of the time. You might want to downsize, move to a new locality, or rent a small home and travel worldwide. Whatever your plans are, selling your home after retirement needs proper planning and execution. The following tips will help you streamline the process and reduce stress.

Make a List of All Expenses

Now that you are no longer earning, you need to plan your investments and returns to ensure no money shortage. You should include the cost incurred to sell the current home. It sure won’t be expense-free. How much do the other monthly expenses cost? How much can you save as a buffer amount for emergencies?

Ponder If You Want to Buy or Rent the Next Home

The next step is to decide if you want to buy a new home or rent it. Buying will involve more expenditure, but you’ll have a home of your own, and there will be no need to move from one rental place to another every few years. A rental home is no less attractive if you don’t want to end up with unexpected expenses for repairs as that responsibility lies with the landlord.

Consider Possible Localities for Shifting

If you’ve been living in the current home for a long time, change can be challenging to accept. Do you want to remain in the same locality or find something similar to the existing one? Are you looking to experiment and try something new? Do you think you can live in a neighborhood that’s a stark contrast from what you’re used to? If you or your spouse has mobility issues, you need to find your next home in a wheelchair-friendly locality.

Sell the House Before You Buy Another

If you’ve decided to buy another home, sell the current one first. It might seem comfortable to buy first and then sell, but finances can get hard to manage, and you might have to settle for less. Taking a loan after retirement is not recommended. Find a buyer first, sell the house, and then buy the next home by considering more options. You might manage to save more money in this process.

Hire a Professional Agent

A skilled and professional real estate agent can make the process so much easier for you. Of course, you need to hire the right kind of person from a reputed company. That said, we cannot deny the advantage of having an agent handling the paperwork and formalities so that you don’t get too stressed out by it. After all, you want it to be a good experience, not a nightmare.

Present the House in a Good Condition

It is worth the effort to make the house appealing for buyers in Houston. Get it cleaned by a professional cleaning company, and complete the minor repairs and save the paperwork. A home that looks neat, cheerful, and airy will attract more buyers and give you the edge to negotiate for a higher price. Tone down the customization to appeal to all kinds of buyers and use neutral colors to repaint the home.

Don’t Change Plans Midway

Do not change your mind after you’ve started the process of selling your home and move on to another. Take time to brood over things before you set things in motion, and not just that, don’t change your plans about what to do with the money after selling the house. If you’ve distributed the cash and allotted it for different purposes, stick to it and don’t end up spending excess on redecorations or renovations.

Don’t Forget Capital Gains Taxes

Check out the capital gains in taxes to see how much you’ll have to pay that year. A married person jointly filing for capital gains will be able to save taxes for up to $500,000 if they have lived in the home for at least two years during the last five years. It will save you considerable money, even though you might have to pay tax for half the amount you get from the sale.

Consider the Cost of New Lifestyle

You’ll be creating and following a new lifestyle from here on, and this could increase or decrease the monthly expenses. What’s it going to be, and how will it affect your savings in the coming years? Do you have enough monthly income to sustain a costlier lifestyle? Will you be able to plan your travels and save for medical emergencies and still not touch the emergency fund?

You Will Need Spare Money in the Bank

We cannot emphasize this enough, especially for retirees. You need to have spare cash in the bank, and you cannot live without a proper financial cushion to tide you through the rest of your life. When you sell the home, you will have to work in reverse to come up with a selling price that will allow you to lead a comfortable life. Unexpected expenses can burden you anytime, and it is best to be prepared.


Selling the home after retirement can be emotional. However, you can lessen the stress and look forward to starting a new life with your partner. All you need to do is plan in advance.

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