Reasons to Buy Your Retirement Home BEFORE You Retire

We all know the old saying time flies, and unfortunately, all know that it seems to fly even faster as you get older. Seems unfair, but all the more reason to set yourself up to enjoy retirement to its fullest!

It may seem crazy to think of purchasing a sunny retirement home years away from your actual retirement date, but there are actually benefits and reasons why this may be a great strategy.

1. Budget Flow– Knowing how much your home will cost now and having a good picture of hidden expenses and monthly expenses will help you to budget in the future.
2. Repairs and Upgrades– Your current income will be able to pay for any repairs or upgrades the property may need so it is ready for your to enjoy when you retire.
3. Diversify your Portfolio– Real Estate is a great investment. If you are considering renting the property out until you retire, Naples has a great market for seasonal rentals and you can earn a lot of return on your investment.
4. Mortgage– If you need a mortgage on your second home, it is much easier to obtain a mortgage while you are still employed.  Take advantage of the low interest rates of 2020!
5. Vacations- You can either spend thousands of dollars a year on VRBO and hotel stays and pay someone else a return on their investment, or save that money and stay in your own vacation home. You will be surprised how much you use it! If you decide you do not like the home or the area during your stays, sell it or rent it out. Still a great real estate investment.

Buying a secondary home early can be a great way to earn investment income or test the waters before a full time move is necessary. Utilizing this strategy can reward you with years of golf and sunsets!

Naples Homes Perfect for Retirement: