You’ve gone from late night feedings, first steps and toddler tantrums through macaroni art, dance recitals and soccer games. You survived the teen years of young love, first jobs and learning to drive. You’ve raised them well and set them loose on the world. Your full house is officially an empty nest.

So now what?

With the kids out of the house, you’ll spend less on groceries, utilities, and other household expenses. It might be good to redirect those funds before you get used to having them. Here are some ideas to get you started on this new chapter:

• Downsize your current home and use the proceeds to start your real estate investment portfolio. One strategy is to purchase a property for your adult children to rent from you. It offers a safety net while they learn to manage their finances and you learn the ins and outs of being a landlord.

• Refinance. If you aren’t ready to sell your family home. Refinancing to a 15-year loan term might be a better option. You’ll ensure your home is paid off by the time you retire, and in some cases, your monthly payment may actually go down.

• Cash Out. Now that the kids are out of the house and you have some wiggle room in your budget, it might be a good time to pull your equity out. You can remodel the home to meet the needs of your empty nest lifestyle, buy an RV or a boat to enjoy your newfound free time or put in the pool you’ve always wanted.

If your children have all left home and you aren’t sure what your next steps should be, call your Boles Group loan officer at 480-279-0032. We’ll talk through your short- and long-term goals and go over the mortgage options that will best equip you to reach them.

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Bay Equity Home Loans – Boles Group is a team of lending professionals located in Gilbert, Arizona and licensed to originate home loans for purchase or refinance in 11 states (AZ, CA, CO, FL, GA, ID, MN, NM, NV, OR, WA). Boles Group lending professionals have the knowledge and experience to create solutions where other lenders create problems. The team prides itself on responsive, accurate communication and is highly regarded by clients and business associates alike.