Retire on the house : using real estate to secure your retirement

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Use your home to finance your retirement

Forgot to save for retirement, but bought a house? Saved a lot and also bought a house? Whatever your situation, Retire on the House can show you how to best use your home equity for a long and prosperous retirement.

Focusing on both retirement and real estate, Retire on the House is designed for retiree homeowners who want to use their home equity to finance their retirement. Filled with valuable insights and practical advice, this unique guide illustrates a number of ways this can be done, including:
* Selling your current home at the top of the market, moving to a less expensive residence, and retiring on your profits
* Obtaining rental income from your current home by renting to boarders
* Remodeling your home into units for much higher rental income
* Three options for obtaining cash from your home without selling, remodeling, or renting it
* Reducing or eliminating retirement expenses such as taxes
* Balancing your real estate portfolio by diversifying with other asset classes

Many of today's homes have tremendous value, and with Retire on the House as your guide, you'll discover how to use this value to achieve the retirement you deserve.

Author Notes

Gillette Edmunds currently writes a regular column for SimpleLiving.com
Jim Keene, CF, CFP, is a regional manager for Wells Fargo Private Client Services

Acknowledgments	p. ix
Chapter 1 Live Thirty Years on Your Home Equity	p. 1
Many Homes During A 30-Year Retirement	p. 3
Study the Entire Book	p. 3
Never Run Out of Money During Retirement	p. 4
Retire on the House Checklist	p. 6
Chapter 2 Sell High, Buy Low	p. 8
16 Factors that Will Determine the Future Price of Your Home	p. 9
The Factors in Action	p. 19
The Housing Bubble Question	p. 35
Summary	p. 45
Chapter 3 What Is Your House Worth?	p. 46
Individual Property Valuation	p. 47
Calculate Your Equity	p. 54
Calculate Your Average Annual Price Increase	p. 55
Regional Average Annual Gains	p. 55
Remodel to Increase Your Home Value	p. 57
Leverage: Understanding the True Return	p. 61
Chapter 4 Keep the House, Add Tenants	p. 64
Rent to Relatives "As Is"	p. 65
Small-Time Landlord	p. 67
Rent the Whole House?	p. 78
Chapter 5 Keep the House, Convert into Units	p. 88
Units for Income, not Capital Gains	p. 89
The Money you Can Make from a Conversion	p. 91
How to Make a Conversion	p. 92
Build the Units and Become a Landlord	p. 99
Exit Strategies	p. 101
Resources	p. 102
Chapter 6 Keep the House, Reduce Expenses	p. 104
Squeezing Expenses	p. 104
Track Your Expenses	p. 105
Convert Your Spending Track into a Spending Plan	p. 110
Chapter 7 Keep the House, Refinance	p. 123
Reverse Mortgages	p. 124
Case Study 1 Income Supplementation in Retirement	p. 130
Case Study 2 In-Home Care in Later Years	p. 139
Case Study 3 House Rich and Cash Poor	p. 161
Home Equity Lines of Credit and Home Equity (Improvement) Loans	p. 171
Case Study 4 Use of Heloc in Retirement	p. 172
Case Study 5 Helocs in Retirement to Bridge the Gap to Other Sources of Income	p. 176
Interfamily Loans	p. 179
Summary	p. 183
Chapter 8 Sell and Move On	p. 185
The Hidden Costs of Moving	p. 186
The $250,000/$500,000 Tax Exemption	p. 190
Reduce Costs of Sale and Increase Sales Price	p. 191
Buy or Rent? It's Not Just a Question of Money	p. 193
Buy the Next House for Cash	p. 195
Buy the Next House With a Mortgage	p. 200
Rent the Next House: The Tenative Tenant	p. 207
Move to a Low-Cost Community	p. 212
Chapter 9 Sell and Move to a Senior Community or Second Home	p. 217
Can You Afford a CCRC?	p. 218
Turn Your Second Home or Rental Into Your Retirement House	p. 223
Moving on Up	p. 225
And Now a Word or Two on How to Invest the Home Sales Proceeds	p. 228
Chapter 10 High Returns, Low Volatility	p. 229
Investing Till Death do Us Part	p. 229
Asset Allocation	p. 233
Diversify By Asset Class Characteristics	p. 241
Home Equity Correlations	p. 243
Chapter 11 Never Run Out of Money	p. 251
A Simple Strategy	p. 251
Invest Equity and Rent	p. 254
Investments and a Smaller All Cash House	p. 258
Conclusion	p. 267
Index	p. 269

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Table of Contents