Buying for Retirement: 3 Reasons Why You’ll Want to Buy Your Retirement Home Before You Retire

Many people dream of buying their ideal retirement home after their career has come to a conclusion – with all that extra free time it seems like it’d be the most logical time to shop around.

However, many real estate professionals strongly recommend that their clients find a retirement property before they’re off the payroll. While it may seem like a big time commitment to find a new home while you’re still busy with your work there are several significant financial benefits to purchasing your retirement home before you actually do retire. Here are our top reasons why.

It Makes Your Mortgage Easy

When you are employed it is easier to get approved for a mortgage. If you wait until after you retire to buy your retirement home, you may not have the income require to qualify for the mortgage that you need. Don’t limit yourself! Buy while you’re still employed to keep your options open.

It Leaves You With More Spending Money

Buying a new home while you have an income provides you with more security with your expenses, such as mortgage payments and planned upgrades or renovations. Having an income can also mitigate financial stress should you run into any unexpected expenses after closing.

It Leaves You Ready For Reality

You may think you can accurately predict the expenses of your new home, but if you buy the property before retiring it gives you time to get to know the true amounts of your monthly payments. This can help ensure that you have enough saved to retire and live comfortably in your new property, with no surprises for your budget. You’ll be in a better position to create a financial plan once you know the reality of owning your new home.

An Added Bonus: It Can Be An Income Property

If you decide to purchase your retirement home before you retire you don’t have to move into it right away. You can rent it out as an income property until you’re ready to settle in, which will not only help cover mortgage payments but will also allow you to see first-hand what the monthly expenses are for the property.

This will also prevent you from having to deal with a move while working; you can wait until you do finally retire before packing up your current home and moving into your new one.

Ready to find the perfect retirement property? Contact me today for more advice to set yourself up for the future – J.P. Cook – 602-320-4253.

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9173 W Charleston Avenue Peoria, AZ 85382

$455,000

4 Beds

2 Baths

1,681 SqFt

Status Active

MLS # 6693791

Property Type Single Family Residence

Price Type --

Best part... NO HOA!!!! Come and check out this conveniently located move in ready home. This one will check all the boxes! 4 bedrooms, 2 baths, new carpet and interior paint, RV gate, large backyard with room for a pool and more! Drive just a mile and you will be on the 101 heading North or South to get anywhere in the Valley. Just down Bell road you will be at P83 with copious shopping or eating options.

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6748 W Charter Oak Road Peoria, AZ 85381

New

$455,000

3 Beds

2 Baths

1,578 SqFt

Status Active

MLS # 6694889

Property Type Single Family Residence

Price Type --

Located in a quiet neighborhood with a kids playground and dog park. Beautiful single story home located in the highly desirable Peoria Village . This home is an open concept layout, perfect for all needs! The master bedroom features a walk in closet and large and roomy bathroom with dual sinks and a private toilet room, The backyard features a hassle free cement flooring that is easy to clean, your own mini-retreat, mature trees. close to P83 entertainment district, Arrowhead Mall, Peoria sports complex.

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2326 W Gaby Road Phoenix, AZ 85041

$455,000

4 Beds

3 Baths

2,348 SqFt

Status Active

MLS # 6606891

Property Type Single Family Residence

Price Type --

Beautiful 4bd/2.5 bath two-story home on a corner lot. Don't miss the opportunity to own this amazing home with lots of upgrades and so much to offer. The entry way opens to a 9ft. ceilings semi formal living/dining area that has great natural light. As you move into the kitchen, you can see a spacious gourmet island with a large pantry space. The kitchen opens to the spacious family room with stairway to a beautiful office/ loft. Upstairs is the oversized master suite with a huge walk-in closet, separate shower/tub and double sinks! Home is near schools, parks, shopping, and minutes away from easy freeway access & Sky Harbor. A perfect home for entertaining.

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195 N Mariposa Drive Wickenburg, AZ 85390

$455,000

3 Beds

2 Baths

1,180 SqFt

Status Active

MLS # 6609665

Property Type Single Family Residence

Price Type --

This listing is located on two lots and includes a main house PLUS a guest house. Live in the main house and use the Casita as a mother-in-law suite, or rent it out. The main house has 3 bdrms and 1 and 3/4 bathrooms. Master bath has double sinks with a tub/shower, Guest bath has a tub/shower, It has a covered patio and a large fenced yard in the back. The Casita has an open great room area with an all electric kitchen, bedroom with a walk-in closet and a tub/shower in the bathroom. 2 a/c wall units, The Casita has it's own large fenced yard with fruit trees. The property also includes a car carport, a workshop and a large fenced yard. Full laundry outside with lots of storage and a separate storage shed, great location with incredible views

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