Time Is Right to Buy a Retirement Home

Money Magazine is urging people a few years from retirement who plan to move when they quit work to consider buying now while home prices and mortgage rates are low.

Buyers who intend to use the place as a second home will pay the same rate as they would pay for a primary residence. If they intend to rent the property out until they retire and they need the rental income to qualify for the mortgage, lenders will consider that an investment property and charge a half to a full percentage point more.

Still, the idea remains are "pretty compelling," says Justin Krane, a certified financial planner in Los Angeles.
Indianapolis Real Estate

Now is the Time to Buy a New Home!

When supply exceeds demand, buyers have the upper hand–and that’s where we are now! The current supply of homes for sale now stands at 12.5 months, meaning that at today’s pace of home sales, it would take 12 and a half months for the existing inventory to sell.

 

For you as a buyer, this means lots of choices, lots of negotiating power and that smart sellers are fiercely competing for your business, both in terms of the price and the condition of their homes. 

Indianapolis Real Estate