The Best Retirement Moves For Boomers Who Own A Home

For most boomers, their home represents their largest financial asset. But retirement changes the equation with rising expenses and shifting priorities, which demand smart choices. The good news is that with the right strategy, your home can fund your future. Here are practical ways to turn property into opportunity.

Downsize By Moving To A Lower-Maintenance Home

Many boomers are finding freedom in downsizing. Trading a large, high-maintenance family house for something smaller and simpler means lower costs and more time for yourself. Plus, today’s independent living communities often come with built-in amenities and like-minded social circles, which you can enjoy.

Convert An Unused Room Into A Long-Term Rental

Got a spare room gathering dust? Why not put it to work? Renting it out long-term creates a win-win: someone gets affordable housing while you get a reliable monthly income to pad your retirement. The best part is that many cities now have homesharing programs that make finding trustworthy tenants easier than ever.

List The Whole House As A Short-Term Vacation Rental

If you’d rather think outside the box, short-term vacation rentals can be surprisingly lucrative. By listing on platforms like Airbnb or Vrbo, retirees can tap into peak-season rates that often beat traditional leases. The flexibility is a bonus—you choose when to rent and when to keep the place all to yourself.

Build Or Convert An Accessory Dwelling Unit

Thanks to updated zoning rules in many cities, the older generation can now easily build or convert an accessory dwelling unit, or ADU. These “granny flats” provide a steady stream of rental income, while also offering flexible options—perfect for housing family members or tenants, depending on your needs.

Reconfigure The House For Multigenerational Living

With a few thoughtful tweaks—like adding separate entrances or mini-kitchens—you can comfortably share the space with adult children or grandchildren. Not only does it help with shared expenses, but it also strengthens family bonds and makes caregiving responsibilities a little easier.

Retrofit For Aging In Place

For those who want to stay put, a little retrofitting goes a long way. Adding grab bars, no-step entries, and single-floor layouts can make daily life safer as you age. These universal design features don’t just provide peace of mind—they also add long-term value to your home.

Subdivide The Property

With housing demand at a high, subdividing your property or selling part of your lot can free up serious value. Retirees benefit from extra income, while communities gain much-needed housing supply—a rare chance to profit while helping solve a wider problem.

Sell The House And Move To An Active Adult Community

Even if this approach isn’t as common, it gives you maximum flexibility. After selling the place, many are opting for a life in a 55+ community where their mornings begin at the fitness center, afternoons at a gardening club, and evenings filled with socials and educational events. A place where maintenance is already handled for you.

Designate It As A Legacy Home For Heirs

If you’d rather think long-term, placing your home in a family trust can turn it into a lasting legacy. Future generations gain a shared place to gather, as you gain control over how the property is passed down. It also simplifies things by helping heirs avoid probate, though estate tax perks may vary.

Start A Home-Based Small Business

Instead of letting that extra space collect dust, consider turning it into a retirement asset that can give you some side income. Home-based businesses—whether professional consultancies or small childcare centers—are helping boomers stay active, independent, and financially resilient while doing work that actually feels meaningful.