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10 Things Retirees Need to Know About Selling Their Home

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"I just don’t know if I can maintain full-time work until 67." That’s soon to be the age at which folks born after 1960 can get their full Social. substantial," he says. "I need to replace my car..

4. Selling Your House. Retired people often sell their homes to move into smaller places or retirement communities. If you’ve lived in your home for a long time, you probably have substantial equity and will earn a large profit on the sale. Fortunately, you may not have to pay any tax on your profit.

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Anyone selling a home knows that it’s a big decision that requires serious thought and planning. But, if you’re a senior or someone getting ready to retire, there are additional considerations you need to take into account before putting your home on the market.

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Central to this discussion is what happens to the marital home. Does one spouse want to buy the other out to keep the house for sentimental or other reasons or will the couple sell the. to both may.

So before you sell your home, there are several things that you need to know before beginning the journey for the first time or the tenth. Here are the top 10 things to know before selling a home. Hiring A Great Realtor Is Extremely Important. Often the most overlooked step when selling a home is the importance of hiring a great real estate agent.