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Have you considered renting out your home to help you pay for trips? We specialize in the areas around Palm Harbor, Clearwater, Tarpon Springs, New Port Richey, Trinity, Odessa, Safety Harbor and Oldsmar. They apply financial concepts in a general manner and include Essential Due Diligence! Relocating for retirement - If you intend to retire out of state or even out of your current city, downsizing in your new location could be part of those plans. Downsizing: Importance, Reason, Type, Pros, Cons - Penpoin Why Downsizing In Retirement Might Be A Terrible Idea CNN has a cost of living calculator. VRBO and Airbnb are really easy ways to turn your home into income. If this is your first time here, subscribe to our newsletter to get updates, or just reach out to say hi! \"Should I downsize my home in retirement?\" is a question we get often, and maybe you should do it SOONER! In order for downsizing to pay off, you have to actually downsize your home. Many report that when youre not settled with that, its harder to seriously look at the finances and planning of it, so decisions might be needed there and a great financial planner and estate planning attorney can help. According to some experts, your financial condition and life goals will determine your downsizing age, not your age. Inflation and retirement don't need to be a bad combination. Friends, family, healthcare and senior services, weather, activities, amenities, etc. Not only will you have to pay closing costs when you buy your next home; youll also be faced with a second set as a home seller. This compensation may impact how and where listings appear. Time to rethink the plan?0:20 Should I downsize my home?0:35 Downsizing WAY before retirement? Downsizing, however, creates an opportunity to build your personal fund. Schedule to discuss partnering: Info@ProfessionalAgentGroup.com======And now for the legally required licensing \u0026 information:Margaret Jackson LLC, Professional Agent GroupKeller Williams Realty30522 US Hwy 19N, Suite 107Palm HarborFL 34684 Office 727-772-0772#MovingtoTampa #ProfessionalAgentGroup #RealtorTampaDISCLAIMER: All content provided on our YouTube channel and any of our social media platforms is for informational/entertainment purposes only. While some people buy bigger, grander or more expensive retirement homes, downsizing for retirement is often the savvy strategy especially for those of us who have not quite saved enough for our golden years. Research your options carefully. why downsizing in retirement might be a terrible idea Related Post: Why Are Retirement Accounts Taxed. Most homeowners planning to relocate for retirement sell their houses, downsize, and then put the profit toward their investments and lifestyle dreams. https://ourtampabayagents.com/free-home-value-report/F O L L O W U S :F A C E B O O K https://www.facebook.com/ProfessionalAgentGroupI N S T A G R A M https://www.instagram.com/professionalagentgroupO R C A L L 833 PRO AGENT, thats 833-776-2436 or 727-408-6000====== FREE Neighborhood Snapshots simply add the neighborhood name: www.professionalagentgroup.comYou can also search SCHOOL DISTRICTS: https://tinyurl.com/SearchPascoSchoolshttps://tinyurl.com/SearchHillsboroughSchoolshttps://tinyurl.com/SearchPinellasSchools======The Professional Agent Group with Keller Williams Realty is a team of REALTORS serving areas throughout Florida and are based out of Clearwater.