What to Consider in a Retirement Property

Remember these tips when buying a retirement propertyRetirement is an exciting time in life. You close one chapter in your life and start anew. Life finally starts to slow down, and you get more You Time. Retiring can also mean a new home. Like any home buying process, there are some things consider when looking into a property for retirement.

Property Taxes

One of the big factors you should consider when buying a retirement property are the property taxes. These are taxes based on the value of the property, and are generally due annually or biannually. For some retirees, since monthly income can be limited, this can be a big financial obligation. Once again, these are taxes based on the property value, not your income. They will remain consistent throughout your life, if not increase depending on the neighborhood you live in. When considering a budget for a retirement property, always consider the annual property taxes.

Cost of Living

Throughout your life, you have built a specific lifestyle you adhere towards. During retirement, you may want to continue this lifestyle. That will impact your decision on a retirement property. What is your monthly income? What are your monthly and annual costs? Determine what price will allow you to live comfortably during your silver years.

Climate

This will vary from person-to-person, but most retirees prefer a warmer climate. Living in a rainy or cold climate can cause aches and pains throughout the body. Your perfect retirement property will require your preferred climate conditions. Check out the seasonal weather on a reliable weather site. You may consider a different property solely based on the climate of the area.

Luckily, properties throughout Encinitas California have excellent climate for those looking to retire. In addition, California has considerably lower property taxes based on a percentage of the value of the home. Encinitas also offers great recreational opportunities for those who retire like golfing, hiking and more.

If you are looking for a retirement property in Encinitas California, I’d be happy to assist you in your search. You deserve to enjoy the next stage of your life. Encinitas can provide this with shopping, fine dining and more. For those looking for a future home in Encinitas, give me a call.

Linda Moore

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