Top Tip To Cash In On The Housing Bubble
Cashing In On The Housing Bubble
Have you thought about cashing in on the housing bubble?? Recently, home sales have rebounded to their highest levels since 2005! The housing demand took off a little more than a year ago when the stay-at-home orders began. While it was a scary time, the stay-at-home orders created an opportunity for workplace innovations and more Americans are seeking larger homes and in different areas. With the flexibility of the hybrid work schedule, people are no longer tied to office buildings and big cities and are spreading out.
This exciting change in real estate brings us to the following question… How can YOU cash in on the housing bubble?
With the real estate market at a peak, many people are considering selling their homes and renting, particularly if they are at retirement age. Now might be the opportunity to get that RV and travel or have a rental in a warmer climate. Once you are retired the need to live in a specific area might change. You no longer need to live near your day job. Your family may have relocated. You may be ready to do all those “someday” things now. You have flexibility. It is time for you to enjoy your retirement dream.
Some options for downsizing are:
- Renting near your kids for part of the year, then living somewhere else the other part
- Full-time RV
- Winter down south
- Live near your fishing hole
- Join a seniors community
BUT, is this a good use of the equity? Will it build additional income? I think it can be done as long as we address one important issue…
How can you convert profits from your housing bubble sale into sustainable income?? First, you want to take that cash from your large housing bubble sale and place it somewhere that will have some growth but also somewhere that won’t expose it to risk. Leaving it in a bank account or a certificate of deposit would have very low risk, but also very low (or NO) growth. Those options are not ideal when income needs are the objective.
Second, find a trusted advisor to help you navigate an account or set of investments to provide the income you will need. At The Resource Center, we have several options we can look at to give you growth, with income options, and have guarantees. They feature benefits such as:
- Tax-deferred growth
- Lifetime income guarantees
- Competitive index allocation choices
- Withdrawal options
- Protection for market volatility
If you are in the position to sell your home for top dollar in this housing boom, you should hurry up. Mortgage rates are trending up and weekly mortgage applications dropped 5% in the last week of June 2021 according to CNBC. Now is the time to Sell, NOT Buy.
If you are interested in more information on how to set up your housing bubble -equity for retirement income, give me a call, I would love to help.
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