If you’re contemplating retirement or have recently retired, now is an opportune moment to assess if your current residence aligns with the next chapter of your life.

Luckily, you might be more ready for a change than you think. Consider the following factors when determining whether selling and moving are the right decisions for you.

Duration of Residence: Reflect on how long you’ve resided in your current home. In the period from 1985 to 2008, homeowners typically stayed in their homes for an average of six years. However, recent trends, as reported by the National Association of Realtors (NAR), suggest that homeowners are now staying in their houses for longer durations.

Living in a home for an extended period often corresponds with experiencing various life changes and milestones. Over time, your needs may evolve, prompting a reassessment of your living situation. If your current home no longer aligns with your current requirements, there might be more favorable alternatives available to you.

Consider the amount of equity you’ve accumulated during your tenure in the house. If you’ve been a homeowner for several years, it’s probable that you’ve built up substantial equity. This equity can serve as valuable leverage for your next housing move, as prolonged homeownership often leads to an increase in property value through home price appreciation.