Saturday, April 3, 2010

INVEST NOW - RETIRE LATER ?

I have been told by many people who are nearing retirement that they would love to take advantage of the lower prices in the current market here in Las Vegas. It seems this works really well in some circumstances.

If you can find the home that would be good for you when you retire, purchase it now and THEN rent it until the time you are ready for your move to Las Vegas. If it is viable from a financial standpoint, you could also keep this property as income (rental) property and purchase another for your retirement home.

There are several factors that have to be explored before you can decide if this is a good way for you to prepare for your retirement.

You need to consult with a Lender to see how much would be required for a down payment, what you are qualified to purchase (price of the home), check out what the rentals are going for in the area you are interested in.  If you can rent the property for the amount of your mortgage payment (incuding taxes & interest) it could be a great opportunity and allow you to invest while the market is at this low point.

There are so many properties that would work for this scenario but you have to put all the pieces together to be sure it fits your current financial picture.

If you would like more information, please e-mail me with your questions.  I'll look forward to hearing from you.

1 comment:

  1. Hi Laura, Great Post. Hope all's well. Keri

    ReplyDelete