Financial Answer Center
- Price Trade-Down in Your Residence
- Retirement Income from Your Home
- Reverse Mortgage
- Sale and Leaseback of Your Home
Another way to use your home for retirement is a sale and leaseback arrangement. Under this arrangement, you sell your home and transfer title to the buyer. You continue to live in the home and pay a monthly rental to the new owner. This enables you to get cash out of your home and still live in your home.
IMPORTANT NOTE: Both a sale/leaseback and reverse mortgage should be approached with caution. Consult with a trusted independent professional, such as your accountant or attorney, before undertaking these techniques. Neither of these options should be your first choice in funding retirement.
IMPORTANT NOTE: Since title to your home transfers under a sale/leaseback arrangement, all future appreciation of the home belongs to the new owner.
Securities and insurance products are offered through Osaic Institutions, INC., Member FINRA/SIPC. Osaic Institutions, INC. and FB Wealth Management, a division of First Bank, are not affiliated. We do not provide tax advice. Consult your tax advisor.