Retirement brings the freedom to live life on your own terms—but that freedom also depends on how well you prepare, especially when it comes to real estate. The decisions you make about your home before you retire can have a lasting impact on your finances, lifestyle, and peace of mind. Whether you plan to downsize, relocate, or stay put, here are some smart real estate moves to make before you hang up your work hat.

1. Reevaluate Your Current Home

Start by asking yourself if your current home still fits your future needs. Do you have more space than you’ll use once the kids move out? Are there stairs that might become a challenge later? Take an honest look at maintenance, accessibility, and comfort. If the upkeep feels overwhelming or costly, it might be time to consider selling and moving into something smaller or easier to manage.

2. Pay Down or Eliminate Your Mortgage

Carrying a mortgage into retirement can create financial stress. If possible, aim to pay off your home loan before retiring. Without that monthly payment, your living expenses drop significantly, freeing up more of your income for travel, healthcare, and hobbies. Even if paying it off completely isn’t feasible, consider refinancing to secure a lower interest rate or shorter term while your income is still steady.

3. Consider Downsizing

Downsizing isn’t just about saving money—it’s about simplifying your life. A smaller home can reduce utility bills, property taxes, and maintenance costs, leaving you with more cash flow in retirement. Plus, selling your larger home may give you equity to reinvest, whether that’s padding your savings or buying a second home in a place you’ve always loved.

Read more: Downsizing to a Smaller Home After Retirement: What Are the Advantages?

4. Explore Relocation Opportunities

Many retirees choose to move closer to family, to warmer climates, or to communities designed for active seniors. Before making a big move, spend some time visiting your potential new area during different seasons. Look into the cost of living, access to healthcare, and social opportunities. Some states also offer tax advantages for retirees, which can make a noticeable difference in your long-term finances.

5. Invest in Accessibility and Comfort

If you love your current home and plan to age in place, make smart upgrades now while you’re still earning. Think single-level living, walk-in showers, wider doorways, and better lighting. These small renovations can make your home safer and more comfortable later, while also increasing its market value if you ever decide to sell.

Read more: Top Home Improvements and Upgrades That Pay Off

6. Review Your Real Estate Portfolio

If you own multiple properties, retirement is a good time to reassess them. Are your rentals still profitable after accounting for management and maintenance? Do they align with your future goals, or would selling one free up cash for other investments? A real estate advisor can help you decide whether to hold, sell, or restructure your assets for maximum return and minimal hassle.

Discover: Everything You Need to Know About Making a Rental Property Profitable

Final Thoughts

Real estate can either empower your retirement—or weigh it down. By planning ahead, paying attention to location and lifestyle, and making strategic financial choices, you set yourself up for stability and flexibility in your golden years. The key is to act early, while you have time and income on your side, so your home truly supports the retirement you’ve worked for.