Things Retired Couples Need to Consider Before Buying a Property

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Your children have grown and they have left your home. It’s time for you to retire and buying a different home just makes sense. This is an exciting time in your life, but it can quickly become stressful. Here are a few of the things you should consider before buying a property if you just retired.

Choosing the Right Area

Maybe you want to retire to somewhere warm with a beach or maybe you want to stay close to family. You don’t have to live close to a good school or close to the place you work because you’re now retired and your children are grown. Take some times and consider what type of community you prefer before you start looking for a new home.

Property Size

It’s just the two of you now, so you don’t need a huge home. Many retired couples like to downsize once the kids are grown and out on their own. The maintenance of a large home can become a daunting task, so choosing a smaller home might be the right choice.

Condo or House

Another decision to consider when retiring and looking to buy a new property is the type of home you prefer.  A condo provides a very low maintenance option, but a home won’t be attached to any other property. Consider the good and the bad of both before you make your decision.

Your Budget

When you gain access to your retirement capital, it’s important to consider how much of it you want to use on a new property. In many circumstances, you’ll be able to use the proceeds from selling your current home to get your retirement property. However, you may want to live in an area that’s more expensive than your current community. Make sure you take the time to consider your budget before searching for a new home.

When it’s time to retire, you want to be able to live where you have always wanted to live. Make sure you consider the factors above before you start looking for a new home and location for your retirement. Once you settle on a location, find a local real estate agent with experience working with retired couples. They will be able to match your needs and wants with the perfect property and community within the area.

If you ever have a real estate question or need, or know someone who does, trust that you can turn to me. 704-650-5707 |

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