Should I sell my house when I retire?
Only if selling gets you closer to the life you want next. Some people retire and stay put for years, and that's a fine answer. Others realize the house is more space, more upkeep, or more money tied up than they want at this stage.
I'd get clear on the numbers first and decide second. That's the first step of my Show-Ready-Seller® System. I'll show you what your home is worth right now, what it could be worth with the right updates, and every option you have for selling it. We call that the EPIC® Report. It's free, and you can request it here.
How much will I walk away with after I sell?
Less than the sale price, so it's worth knowing the real number early. What you keep is the sale price minus what's left on your loan, the commissions, escrow and title fees, any transfer taxes, any credits you give the buyer, and what you spend getting the house ready.
Before we list, I'll walk you through an estimate line by line. It doesn't become final until escrow, but you'll have a realistic range to plan your retirement around instead of a guess.
Should I sell before or after I stop working?
It depends on what comes next. If you're buying another home with a mortgage, talk to a lender before you retire. Lenders look at your income when you apply, and the way they count retirement income can be different from how they count a paycheck.
If you're paying cash for the next place, renting for a while, or moving in with family, the timing is more flexible. If this were my plan, I'd line up the financing for the next home first, then pick the sale date. If buying first sounds like you, read how buying before you sell works.
What taxes should I think about before I sell?
There isn't one answer, and it's worth asking early. It can depend on how long you've owned and lived in the home, how title is held, what you've put into it over the years, and whether you're buying again, in California or somewhere else.
There are federal and California rules that can come into play when someone sells a long-held home. Examples include the federal capital gains exclusion for a primary residence and California's Prop 19, which deals with property tax for some homeowners 55 and older who buy a replacement home. Whether any of them apply to you, and how, is a question for a CPA or tax advisor. If you work with a financial advisor, bring them in too, since the sale can change your retirement plan.
I'm not a tax professional, and nothing on this page is tax advice. What I can do is get you a realistic sale price early, so your CPA is working with real numbers before you list instead of after.
Do I need to fix up the house before I sell?
Usually not much. After decades in a home, the list of things you could fix is long. The list buyers will pay for is a lot shorter: paint, lighting, flooring, curb appeal, and anything that looks like a repair project.
I'd rather you keep your equity than spend it on a remodel the next owner might tear out. When we do prep, my S-R-S® Concierge coordinates the contractors, cleaners, staging, and media, so you're not managing it yourself. If you'd rather not touch anything, read about selling as-is, and I'll show you what it costs you in price so you can decide.
Where should I move after I sell?
Wherever puts you closest to the life you want: near your kids and grandkids, something smaller here in the Valley, or out of state. The house you sell pays for that choice, so it helps to pick the direction before we set the timeline.
If you're staying local, I can help on both sides. If you're moving into something smaller, my downsizing page covers the prep and the decluttering. If you're leaving California, the sale works the same way and you don't need to be here for most of it. My relocation page explains how I handle it once you've moved.
How long does selling take?
Prep usually takes a few weeks, depending on how much work we decide to do. Then the house goes on the market, and once we accept an offer, escrow in California commonly runs about 30 days.
If your retirement date is set, we'll work backward from it. You set the pace, and nobody should rush you on a decision this big. If you need to stay in the house a little while after closing, that can be negotiated into the deal.
