Retirement Yenta knows one thing, dear Readers. She knows that real estate is almost always a good investment. She also knows that if you are pre-Retirement, you still have money coming in and it is much easier to make a mortgage payment than when you are on a fixed income. Yes, dear Readers, RY knows she has given this advice before (see tip #5 and tip #338.) Your dear Yenta does not have the “Heimers” (Alzheimers). This little Yenta thinks that this is important because in this anticipated inflationary environment, people are investing in real estate now, and prices are likely to go up. Plus, if the Millennials come around to becoming home owners, there is yet another chance for even higher home prices.
So, dear Readers, what’s a pre-Retiree to do? Well, this Yenta believes the first step is to choose your Retirement Community. Where is YOUR happy place? Is it the mountains? The beach? The southwest? The northwest? Europe? Australia? Japan? Once you have imagined your happy place, RY wants you to go there. Spend more than a week in this happy land. Get to know the locals. Get to know what your routine would be. Find out if you have the support system you would need if you were there 12 months a year.
This may take a couple of trips to a couple of different locals.
Once you have found your locale, RY wants you to consider your Retirement Lifestyle. She recommends you avoid homes with a lot of stairs. Think of your elder years, and how your parents’ bodies held up. Make home choices that will give you what you will need.
Finally, make that purchase, dear Readers. Buy it. Buy it, NOW. Don’t wait for the future. The time will never be more right. Retirement Yenta says: Buy your Retirement Home now and use it as a vacation home. Enjoy it now because your time here may be short or you may out live your entire cohort. Either way, have some fun…go out and home-shop and get this job done.