Mistake #6: Selling a home too soon
Houses can be pretty expensive assets. Therefore, there’s no wonder more and more people want to downsize and sell their current homes as soon as they retire, in order to cash in and save some money. But don’t go selling your house just yet! Before you put your house up for sale, check the housing market in your area.
If the home prices where you live are worth selling one of your biggest assets, then it’s a wise and profitable financial decision. On the other hand, if the prices are falling, it might be a better idea to rent your house rather than selling it. This way, you get to earn some extra income while living in another neighborhood or city and see if you can adjust to the change.