Options are great to have but having options also means you have to make choices and some are harder than others, deciding where you want to live while retired is not an easy financial or emotional decision. We believe that the emotional side, specially being happy where you retire, is the most important decision you can make if you have this option.

Here is a list of options which involve your property and using the equity in retirement

1.Rent
2.Sell
3.Downsize
4.Reverse Mortgage
Should I Sell My Home During My Retirement? If I Don't Sell Will I Be Able to Afford Living There?
Many folks near or in retirement have an emotional attachment to their homes, and rightly so since some of our customers have lived in their homes for the last 40+ years. Moving is stressful, add the fact that you are emotionally attached and this move can actually backfire.

Most Common Reasons Seniors Sell Their Homes in Retirement

?good real estate market ( can make a hefty profit)
?move closer the their grown kids/family
?moving into a nursing home/ in care facility
?could no longer afford the payments
There are many costs involved with selling you home including traditional fees such as 3% fee from your agent.

Should I Consider Downsizing, or Moving Into a Smaller Home/Property? Will Moving To a More Affordable Place Be Enough To Help My Finances?
Downsizing homes in retirement is currently a common trend as more and more seniors realize that their savings is only going in one direction ( down since the recession began). Downsizing for financial reasons can add alot of stress and worry to your retirement, if possible seek advice/help from family/friends as they can help alleviate this stress.

?Why are you downsizing ( financial reasons ? current place is not senior friendly)
?Can you afford to pay for the downsize, including moving, how about the monthly payments on a long term basis, can you afford the payments
With A Reverse Mortgage Your Home Turns Into a Personal Bank, Providing You With Lifetime Monthly Income, While Allowing you to Keep Ownership of the home/title.
for the complete list of reverse mortgage pros and cons

for simply the disadvantages that can arise before or after taking the loan reverse mortgage disadvantage