RHYS MARTELL  |  financial advisor

Downsizing Your Home For Retirement

I’ve had a lot of clients who either already have downsized their home for retirement or plan to in the near future.

And for obvious reasons. It’s less to take care of and it usually costs less.

But the main reason most people want to downsize is for the money they can pocket. If you can sell your home for 1.5 and buy a smaller one for a million, that’s an extra 500 grand that you can use to help fund your retirement or even wipe out the rest of your mortgage.

Not bad. Makes sense.

But one thing I’ve noticed in nearly every case: while they may downsize, they usually don’t downgrade. In fact, they tend to upgrade because it’ll likely be their home for the next 20-30 years.

Key point: downsizing can make a lot of sense, but it’s very easy to overshoot how much cash you’ll end up with once all the dust settles.


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This article is for educational purposes only and is not intended to provide specific personalized advice including, without limitation, investment, financial, legal, accounting or tax advice. Opinions expressed are those of the owners and writers only. Every effort has been made to compile this material from reliable sources, however, no warranty can be made as to its accuracy or completeness. It may also include forward looking statements concerning anticipated results, circumstances, and expectations regarding future events. Forward-looking statements require assumptions to be made and are, therefore, subject to inherent risks and uncertainties. There is significant risk that predictions and other forward looking statements will not prove to be accurate. Please consult an appropriate professional regarding your particular circumstances. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus or the fund facts before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Mutual Funds and Segregated Funds provided by the Fund Companies are offered through Worldsource Financial Management Inc., sponsoring mutual fund dealer. Other Products and Services are offered through Rhys Martell/Well-Built Plans Financial.

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