For those individuals leaning towards the downsizing option, take into consideration the variations in the real estate market and what choices will be the best for you and your finances. Maybe you’d like to stay in the same area and simply reduce housing payments, or maybe you’d like to relocate. The biggest tip to give in the downsizing option is to make sure you do your homework. Some individuals sold their home in hopes of downsizing and living more comfortably in retirement, only to find their payments the same because of taxes, interest and real estate market variations. Some areas around the country are more depressed than others, so maybe relocation shouldn’t be out of the question. Like I pointed out before, everyone’s financial situation is different, and each option is not tailored specifically for you. The point is to open up your eyes to the changing real estate market and how it’s forcing pre-retirees to modify the way they view their homes and how they expect to retire.
