{"id":1172,"date":"2020-10-08T14:58:32","date_gmt":"2020-10-08T14:58:32","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=1172"},"modified":"2020-10-08T14:58:32","modified_gmt":"2020-10-08T14:58:32","slug":"buy-retirement-home-sooner-rather-later","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/buy-retirement-home-sooner-rather-later\/","title":{"rendered":"Should You Buy a Retirement Home Sooner Rather than Later?"},"content":{"rendered":"
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Should You Buy a Retirement Home Sooner Rather than Later?<\/p><\/div>\n

Every day in the U.S., roughly\u00a010,000<\/a>\u00a0people turn 65. Prior to the health crisis that swept the nation in 2020, most people had to wait until they retired to make a move to the beach, the golf course, or the senior living community they were looking to settle into for their later years in life. This year, however, the game changed.<\/p>\n

Many of today\u2019s workers who are nearing the end of their professional careers, but maybe aren\u2019t quite ready to retire, have a new choice to make:\u00a0should I move before I retire?<\/strong>\u00a0If the sand and sun are calling your name and you have the opportunity to\u00a0work remotely<\/a>\u00a0for the foreseeable future, now may be a great time to purchase that beach bungalow you\u2019ve always dreamed of or the\u00a0single-story<\/a>\u00a0home in the sprawling countryside that might be a little further out of town. Whether it\u2019s a second home or a future retirement home, spending the next few years in a place that truly makes you smile every day might be the best way to round out a long and meaningful career.<\/p>\n

Lawrence Yun,\u00a0Chief Economist<\/em>\u00a0at the\u00a0National Association of Realtors<\/em>\u00a0(NAR),\u00a0explains<\/a>:<\/p>\n

\u201cThe pandemic was unexpected, working from home was unexpected, but nonetheless many companies realized that workers can be just as productive working from home\u2026We may begin to see a boost in people\u00a0buying retirement homes before their retirement<\/strong>.\u201d<\/em><\/p><\/blockquote>\n

According to the\u00a020th Annual Transamerica Retirement Survey<\/a>, 3 out of 4 retirees (75%) own their homes, and only 23% have mortgage debt (including any equity loans or lines of credit). Since entering retirement, almost 4 in 10 retirees (38%) have moved into a new home. They\u2019re making a profit by\u00a0selling<\/a>\u00a0their current homes in today\u2019s low inventory market and using their\u00a0equity<\/a>\u00a0to purchase their future retirement homes. It\u2019s a win-win.<\/p>\n

Why These Homeowners Are Making Moves Now<\/strong><\/h4>\n

The health crisis this year made us all more aware of the importance of our family and friends, and many of us have not seen our extended families since the pandemic started. It\u2019s no surprise, therefore, to see in the same report that 32% of those surveyed cited the top reason they\u2019re making a move is that they want to be closer to family and friends\u00a0(See graph below):<\/em><\/p>\n

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Reasons Why Retirees Are Moving<\/p><\/div>\n

The survey also revealed that 73% percent of retirees currently live in single-family homes. With the overall number of homes for sale today hitting a historic\u00a0low<\/a>, and with the buyer demand for single-family homes skyrocketing, there\u2019s never been a more ideal time to sell a single-family home and make a move toward retirement. Today\u2019s market has the perfect combination of driving forces to make selling optimal, especially while buyers are looking to take advantage of\u00a0low interest rates<\/a>.<\/p>\n

If you\u2019re one of the 73% of retirees with a single-family home and want to move closer to your family, now is the time to put your house on the market. With the pace homes are selling today, you could essentially wrap up your move \u2013 start to finish \u2013 before the holidays.<\/p>\n

Bottom Line\u00a0<\/strong><\/h3>\n

Whether you\u2019re looking to fully retire or to buy a second home with the intent to use it as your retirement home in the future, the 2020 fall housing market may very well work in your favor. Let\u2019s connect today to discuss your options in our local market.<\/p>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

Let\u2019s Connect:<\/strong>
\nFacebook<\/a>
\nLinkedin<\/a>
\nTwitter<\/a>
\nInstagram<\/a><\/p>\n

THE INFORMATION PRESENTED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED LEGAL, FINANCIAL, OR AS ANY OTHER TYPE OF ADVICE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

Many of today\u2019s workers who are nearing the end of their professional careers, but maybe aren\u2019t quite ready to retire, have a new choice to make:\u00a0should I move before I retire? Finish Reading Should You Buy a Retirement Home Sooner Rather than Later?<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[10,18,27,91,52,49,42,23,20,24,48,13,259,260,258,54,47,19,17],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1172"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=1172"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1172\/revisions"}],"predecessor-version":[{"id":1175,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1172\/revisions\/1175"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=1172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=1172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=1172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}