Thinking about retiring? Read this first...
Marketwatch explains five real estate mistakes retirees make, including these three:
Keeping the bigger house for too long. A large house requires a lot of upkeep, which means more expenses. People who have kids who just entered college or are about to may want to start thinking about downsizing now rather than waiting until graduation.
Dreaming of a Big Bend retirement because of that trip 20 years ago. If you are interested in leaving town, make sure you research the practicality of a new location. For instance, ask if you will have access to the healthcare options you need most and make sure there are places to take part inyour favorite activities.
Owning two properties when you only need one. If the cost and maintenance associated with owning one too-large house is significant, owning two properties of any size can be a bigger financial burden. Even if you intend to move into the second property in a certain time frame, the price tag in the meantime may not be worth it.
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