Switching From a Home to a Condo for Retirement

Many people buy a home when they start a family, mainly because they’ll need more space than an apartment commonly offers. But when the kids go off to college and it’s almost time to retire, it might make more sense to sell your home and trade it for a condo instead. Much like deciding between insurance companies in Hartford CT, much consideration goes into whether it’s better to have a condo than a home.

More Money in Your Pocket

By selling your home and using some of the funds to buy a less expensive condo, you could have a tidy sum left over to spend, invest or save as you wish. You can have more money to put into your retirement account. Even if you’re still working on paying off your current mortgage, moving into a condo can drastically lower your monthly payments.

Lower Taxes

Depending on the total value of the condo, you could pay less in property taxes, which means you have even more money to spend, save or invest as you see fit.

No Yard Work

Just like insurance companies in Hartford CT, give you peace of mind, living in a condo gives you the peace of mind of knowing you no longer have to spend hours and weekends taking care of yard work.

If you’re approaching retirement age and feel your house is too big for your current needs, consider buying a condo and protecting it with quality insurance.

 

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