Tips for Boomers: Benefits of Downsizing
For anyone approaching retirement, now could be a great time to move.
Here are some tips for Boomers considering downsizing:
- Don’t miss out on the $6,500 move-up tax credit.
- Consider a short-distance move if it provides savings and convenience.
- Anyone moving out of state should figure the tax consequences in their new location.
- Consider a property that offers features allowing Boomers to age gracefully.
- Think about sharing space with a younger (or older) family member.
- Insist on good security in the new property.
- Look for homes that don’t require a lot of maintenance.
- Go green. It will pay off down the road.
Source: Forbes, Ashlea Ebeling (03/16/2010)
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