The past two years have brought significant changes to our lives, including an unexpected wave of early retirements in Central Arkansas. The Schwartz Center for Economic Policy Analysis reports that the pandemic recession led to at least 1.7 million more retirees than anticipated in 2021.
If you're among those who recently retired in Central Arkansas, it's possible that your current home no longer suits your new lifestyle. The positive news is that you likely have substantial equity built up, which can be a valuable asset for your next move. According to CoreLogic's latest Homeowner Equity Insights report, homeowners in the area gained over $50,000 in equity in the past 12 months alone. Combining this with the current seller's market, it's an opportune time to sell your house and address your evolving needs.
One significant advantage of leveraging your equity is the ability to move closer to loved ones. The 2021 Home Buyers and Sellers Generational Trends report from the National Association of Realtors highlights that the primary reason retirees purchase homes is to be closer to friends, relatives, and loved ones. If you desire greater proximity to the important people in your life, retirement and the equity in your home can provide the means to make that move.
Moreover, your equity can help you find the right-sized home for your needs. Lawrence Yun, Chief Economist at NAR, notes that many homebuyers aged 55 and older opt to downsize when purchasing a new home. This downsizing trend aligns with the desire for a more manageable and efficient living space.
To navigate these changes and achieve your specific homeownership goals, it's essential to work with a trusted real estate advisor in Central Arkansas. They will guide you through selling your current home and assist you in finding the ideal next home as you embark on this new phase of life.
In conclusion, if you've recently retired and find that your needs are evolving, rest assured that you're not alone. Let's connect so that I can provide you with valuable insights on finding a home in Central Arkansas that matches your current situation and requirements.
