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Other Ways to Supplement Your Retirement Income
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 owner. 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 your 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. Share Article:
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