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Fact is you can consider to reduce housing costs in retirement.

One of the biggest expenses during retirement is housing. Housing is one of the biggest expenses during retirement. When it comes to matters housing, one of the most experienced people is Barry Weir whom you can consider borrowing a leaf from. Barry Weir made some good wealth from mobile homes business and even offers consulting advice on the same.

Owing to the fact that there are enormous costs of housing one should think of the ways to reduce this even before retirement is due. Different ways you can use to reduce housing costs in retirement include.

Think about downsizing. Once the children grow up, there ceases to be need for a large house with several rooms and a big compound. There ceases to be need for large house with several rooms and a big compound once the children have grown up In light of this downsizing to a smaller home that is less costly can help a lot. This reduces the costs and responsibilities that come with maintaining a large home that is not necessarily needed at this point in life.

Renting is also an option. Being an owner of a home comes with a number of responsibilities. Even more expensive is an aging home. You need to do everything possible to avoid such costs at such a stage in life. Therefore, renting comes in handy. To free up the hustles that come with being a homeowner, you can sell your home and rent up the house. Burden is transferred from you to the home owner and gives you the allowance of moving to other places you wish. You must however submit to the conditions of the home owner.

Your mortgage payments must be cleared. Finish them up before your retirement nears. Your monthly bills will be significantly reduced. This will save you lots of your savings and help you cater for other needs such as insurance.

Consider moving from high costly cities. You’re not tied to live in particular places after your retirement than previously dictated by your workplace. Now, you can move to any place you wish. Think about relocating from places of high cost of living to where it is relatively lower.

Another option you should consider is living with your children. This cuts your housing costs completely since you no longer have to pay rent. Other needs you need in your retirement such as insurance can thus been given more priority by your children.

Sharing a home with at other retired people. Instead of living alone you can consider pulling up resources with other retired people and living together in one home. Costs significantly reduced as everyone has to contribute to the course. As you interact with other people, it also lessens boredom and loneliness. You will have more reason to live as you share life, experiences and good moments among others.

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