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BUYING: CONSIDERATIONS FOR PURCHASING YOUR RETIREMENT HOME

Saturday, October 10, 2020   /   by Sally Scrimgeour

BUYING: CONSIDERATIONS FOR PURCHASING YOUR RETIREMENT HOME

Do you want more space when you retire?


When you think of the home you’ll retire in, a new house may come to mind. Or maybe you’re contemplating moving to your favorite vacation spot or somewhere closer to friends and family. 

With so many choices, how will you know what’s best for your lifestyle? 

 

Here are three questions to consider before making a move for retirement:  


1. Will you relocate? Maybe you have a favorite beach town in mind for your retirement, where you can relax year-round. If so, be sure to account for the price of moving and the costs of your new community. If the cost of living is higher, make sure you have enough money saved to live comfortably 


2. Should you downsize or upgrade? The kids have likely moved out, so you could opt for a smaller house or condo. But a more substantial property may offer additional space for visitors and hobbies. Think about what’s best for your family, then consider sitting down with a financial planner to evaluate your assets to be sure you can afford your options.


3. Is the timing right? If you’re not quite ready to retire but thinking about moving, it may be better to buy property while you still have a steady income. On the other hand, you can take your time looking if you start after you’ve left your job. Either way, explore your options to ensure you’re making the most of your investment and your retirement.


Is retirement in your near future? Are you ready to start looking for a new home? Reach out today to discuss your next steps.


  buyers, sellers, retirement, relocation, newhome, realestateinvestment

The Scrimgeour Group
Sally Scrimgeour
11455 Viking Dr
Minneapolis, MN 55344
952-200-9461

The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Coldwell Banker Burnet are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.” Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.” Copyright2020Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. Data last updated November 24, 2020
The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Regional Multiple Listing Service of Minnesota, Inc. Real Estate listings held by brokerage firms other than Sally Scrimgeour - The Minnesota Home Selling Team / Coldwell Banker Burnet are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.” Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.” Copyright2020Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. Data last updated November 24, 2020
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