Buying a Second Home for Retirement

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Because it is such a big decision, many people purchase second homes with an eye to ultimately retiring there. This gives them a chance to see how well they like the area, the house, and the resources that will be available to them when they retire.

Second home owners offer these suggestions for finding a suitable second home for future retirement enjoyment:

• Look for that second/retirement home in places you have visited in the past and enjoyed.
• Look for a second/retirement home that is not so far from family and old friends that visits may be impractical.
• Look for a second/retirement home in a destination with high rental potential.
• Consider how much room you will need for daily living, hobbies, and visitors.
• Think about your personal needs for mobility and personal care over the long term.

Take advantage of the services of a professional real estate agent who specializes in second home or retirement markets. The National Association of Realtors® estimates that two-thirds of second homes purchased since 2003 were purchased through real estate agencies.

Learn More About Senior Living and Real Estate
To learn more about other Senior Living and Real Estate, please review the other articles in this section.

To find a GMAC Real Estate agent with certifications as a Senior Residential Marketing Master or as a Seniors Real Estate Specialist, please click here.