From Money.com:
"Even if you're a decade or more away from quitting time, you may be thinking about buying a retirement home right now.
The prices for condos in popular retirement areas like Napa, Calif., and Naples, Fla., have come down 44% or more since the boom, substantially more than the average 32% that home prices have fallen nationwide, according to the latest data from Fiserv. And mortgage rates recently hit record lows once again.
For baby boomers in particular, "Many realize that they'll never see this scenario again in their lifetimes," says Jim Gillespie, CEO of Coldwell Banker Real Estate.
If you vacation in the same place several times a year and can pay for some or all of a property in cash, owning might not cost much more than hotel stays, especially as you get closer to chucking your briefcase and use the place more frequently.
Still, no matter the price, buying now isn't a no-brainer. The costs of owning two properties can be greater than you'd expect, even if you plan to rent one out most of the time. Before you shop, answer the following questions..."
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When it's time to buy or sell real estate in Greenville, SC you need to work with a realtor who is honest, trustworthy, and knows the market. Dave Edwards - Greenville, SC Realtor - makes a strong effort to keep up with Greenville, SC market trends by analyzing market information on a daily basis. Who do you know that needs to sell? Contact us today at 864.275.7250.
Based on sales by GGAR members and CRS data.
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