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Downsizing your home
Practical reasons
There are many reasons for downsizing your home prior to or during retirement. Perhaps your children have moved away or perhaps your neighbourhood has changed so that it no longer meets your retirement needs.
Financial reasons
Your home can be an important source of income or capital. You can downsize to a less expensive home and create equity for your retirement income.
This is especially convenient if early retirement was not planned and you find your retirement income is not enough to sustain your lifestyle.
Housing options
The place you retire to should be one that accommodates your needs and lifestyle.
Use the following checklist to help you decide where and how you want to retire
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Do you want to stay in the same neighbourhood?
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Is familiarity with the people and services within your current neighbourhood important?
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If you want a change of scenery, which community would you like to live in?
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Do you prefer a change in climate?
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What type of home do you prefer?
To talk to someone about your housing options go to your local HSBC site.
Find out more about retirement planning where you are..
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