Most people look forward to retirement when they’ll no longer have to go to work every day but few actually plan on how to pay for it. The DiMora Team are real estate experts in the Northville and Novi neighborhoods and while you’ve got tons of options to help you develop a retirement plan and lots of experts advising that you start saving for retirement as early as possible, the truth is that too few are preparing for their financial security after retirement. The majority are doing so through a home equity line of credit (HELOC), but a reverse mortgage may actually be the smarter way to access that equity. A reverse mortgage lets you access your home equity without taking out a line of credit that requires a monthly repayment plan. A reverse mortgage is a type of loan that converts your home equity into cash while allowing you to continue living in the house. Check out below to see what sold in Northville Colony Estates in November 2020:
15874 Hickory Ridge Drive, Northville: 4 bedrooms, 2.1 bathrooms, 2,049 sq. feet, 2 car garage, Sold Price: $345,000
Northville Colony Estates Home Sold
November 2020
16847 Dunswood Road, Northville: 3 bedrooms, 2.1 bathrooms, 1,830 sq. feet, 2 car garage, Sold Price: $355,000
Northville Colony Estates Home Sold
November 2020
17075 White Haven Drive, Northville: 4 bedrooms, 2.1 bathrooms, 2,244 sq. feet, 2 car garage, Sold Price: $372,000
Northville Colony Estates Home Sold
November 2020
With a reverse mortgage, borrowers can live in their home for the duration of their lives as long as it remains their primary residence, they properly maintain the property, and they continue to pay the taxes and insurance. For more information on Northville Colony Estates, or similar Northville or Novi neighborhoods such as Lakes of Northville, Orchard Ridge Estates and Roma Ridge, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.