In the recent downturn of the economy, many homes nationwide as well as homes in Santa Cruz have taken a dive in value. As a result, they may not be the nest eggs that potential retirees were hoping for. Now, retirees need to know their options and what to do with their homes in Santa Cruz.
If you find yourself in this predicament and aren’t sure what to do, speak with your financial expert and review the following options for your financial future so that you can retire on time — and enjoy it!
• Wait it out. Most retirees want to try this tactic and are hoping that the housing market will rebound. However, if your property’s upkeep costs, such as taxes, insurance and utilities, continue to rise, you might need to consider other options.