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April 2024 | Volume XI, Issue 4

How to Choose a Forever Home That Actually Fits You

Upsize or Downsize? Empty-nesters purchasing what they hope will be their last homes face interesting decisions. How might your needs change in retirement? Think about the following considerations.


Your fixed-income future. An old rule-of-thumb is to spend 4% of your retirement savings per year. Your current home's rising value may give you more flexibility, but be sure to find a solution that will fit your fixed budget.


Think about home maintenance. Reflect on how much upkeep you'll want to do during your retirement. Larger homes require more work on average, but also consider whether features like a pool, smart-home system, and solar panels are worth the amount of time or money you'll likely spend maintaining them.


Focus on function. Your needs in retirement will likely be different from when you last bought a home. Will you want a dining room to entertain friends? Are your grandchildren likely to visit frequently, requiring additional bedrooms? Is outdoor space a priority?


Ready to start hunting for your forever home? Turn to the experts at National Iron Bank to get pre-approved and shop with confidence. Click here to learn more!


Excerpt from Wall Street Journal

National Iron Bank | IronBank.com

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