HOUSING DECISIONS: BUYING A VACATION HOME
01.Core Concepts
• Decision may come later stages of career or early retirement: • Warmer winters • Longer stays they already love • What to plan for: • Expenses associated with purchasing • Realtor costs • Furnishing an additional household • Additional property taxes, mortgage and maintenance costs • Options for offsetting costs • Rent out either home when not personally using HOUSING DECISIONS: MOVING TO A RETIREMENT COMMUNITY • Decision may come in early retirement or deferred till later retirement. • Varying degrees of services but based on independent living • Age restricted (often age 55 plus) • Community environment • Athletic facilities • Social gatherings • Community events and trips • Low maintenance lifestyle • Nutrition • What to plan for • Large up-front deposit and possible monthly payments