Owning Homes Outright In Retirement Reduces Costs and Builds Wealth

Nearly 40% of American homeowners now own their homes outright with no mortgage debt. Over half of these owners are retirement age.

Fully owning a home represents 100% equity - the bank owns none of it. If property values have increased, it becomes a storehouse of wealth.

Owning a paid-off home reduces living expenses in retirement by eliminating mortgage payments. This allows more money to be invested or saves on cost of living.

Downsizing to a smaller, paid-off home in retirement allows gains from selling the larger home to pad retirement funds.

Renting instead of owning in retirement puts all home equity to work while reducing expenses like property taxes.