Many people are reaching the point in their lives when they need to decide where they want to live when they retire. If you’re a homeowner approaching this stage, you have several options to explore. Jessica Lautz, Deputy Chief Economist and Vice President of Research at the National Association of Realtors (NAR), says:
“As we see the transition of the large Baby Boomer generation age into retirement, it will be interesting to see if they move in with their Millennial and Gen Z children or if they stay put in their own homes.”
Lautz lists two options: move into a multigenerational home with loved ones, or stay in your current house. Multigenerational living is rising in popularity, but it isn’t an option for everyone. And staying put may fit fewer and fewer of your needs. There’s a third option though, and for some, it’s the best one: downsizing.
When you sell your house and purchase a smaller one, it’s known as downsizing. Sometimes smaller homes are more suited to your changing needs, and moving means you can also land in your ideal location.
In addition to the personal benefits, downsizing might be more cost effective, too. The New York Times (NYT) shares:
“Many downsizers expect to improve their retirement income stream if their new home costs less than what their old house sells for. Lower utility costs, insurance and property taxes — as well as investment returns on the proceeds — can also improve the bottom line.”
Being in a strong financial position is one of the most important parts of retirement, and downsizing can make a big difference.
A key part of why downsizing is still cost effective today, even when mortgage rates are higher than they were a year ago, is the record-high level of equity homeowners have. Leveraging your equity when you downsize can lower or maybe even eliminate the mortgage payment on your next home. Find out more on KeepingCurrentMatters.com.
If you have been looking for an active adult community in Gwinnett County with new construction homes, look no further! Soleil Summit Chase is NOW SELLING new construction homes in this active-adult community located in the Snellville area of Gwinnett County.
New Construction Homes
The available floor plans include ranch style construction with square footage ranging from 1,400 up to approximately 2,800 with eight floor plans from which to choose. See all floor plans here At this time, there are 40 available home sites in Phase I. Here is a link to virtual tours of plans.
Soleil Summit Chase – Active Adult Community
This centrally located community will have easy access to Snellville, Lawrenceville, Grayson, Loganville and Atlanta. All of the towns in this area hold many community events, farmers markets and have a large venue of shopping and eateries. You will be very near to Stone Mountain Park for hiking, picnicking, events and more!
New 55+ Active Adult Homes in Snellville priced from the $400s.
Now Selling Phase 1
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Talk To A Soleil Summit Chase Agent
Sales Center: 3465 Rosebud Rd. SW, Snellville, GA 30078
Sales Center Hours: Saturday: 11am – 6pm and Sunday 1pm – 6pm