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Property News

Retirement beckons - but what about the family home?

April 23, 2012

Being able to retire is an outcome that many of us are looking forward to - the opportunity to cease working and start living.

Depending on your financial circumstances at the time, you may also find that it brings with it the chance to develop your nest-egg into something quite fruitful.

It is a common practice for people looking at retirement to examine their choices with regards to future investments - with many choosing to gain additional financial advice before making any lasting decisions.

Many former workers have the chance to draw out superannuation as a lump sum - and use that amount to fund other investment purchases - while others prefer to opt for annual payments over time to supplement their other income streams.

If it hasn't been dealt with already, there also comes the question of what to do with the family home.

While some may prefer to sell off the residential property outright, others may view it as a rental opportunity - installing a tenant and receiving regular payments.

Alternatively, retirement might be the time to do up the house - renovations can be done in their now plentiful free time and can help add value when the time does come to sell.

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