Baby Boomers Are Uniquely Poised to Cash in Big on Their Homes

Patti and Mike M. knew the housing market was hot.

So in July, they sold their 5,000-square-foot Chicago-area home for a tidy profit and headed south, leaving snowy winters and an annual $24,000 property tax bill behind.

Ultimately, the pair — both in their late 50s — settled on a smaller home in South Carolina. The move shaved around $3,000 off their monthly housing costs and would allow Mike to retire early — or even now — if he wanted to.

“We sold at a great time,” says Patti, who requested their last name be withheld due to privacy reasons. “We probably got more for the house than we ever would.”

This article originally appeared on Money.com. Read the full article.