The decision to establish a second home rests primarily on cost. Therefore, a thorough understanding of your potential expenses is a must to know if you can afford to make such a move.
Buying and renting have different costs, but some second home costs are incurred by both owners and renters.
Among the many motivations for purchasing a second home, buyers must consider the financial implications of owning a real estate asset. This post will focus on a second home as an investment and income opportunity. Subscribe to our blog so you don't miss our upcoming post, which will cover the costs side of the equation.
In thinking about a second home as an investment, we’ll restrict the discussion to a property you intend to live in a part of the time, not one you buy but never stay in.
As retirement age approaches, many seniors look forward to spending their summer months exploring new destinations and experiences. After years of hard work, retirement presents the perfect opportunity to travel and create new memories with loved ones. With so many incredible domestic U.S. cities to choose from, narrowing down the options can be a challenge. Fortunately, there are many cities that offer the perfect combination of natural beauty, cultural attractions, and relaxation for retirees seeking a memorable summer vacation.
Whether it's a road trip to a national park or a leisurely beach vacation, there's a destination out there for every type of retiree. In this article, we'll explore some of the best domestic U.S. cities for retirees to vacation in during the summer months, highlighting their unique features and attractions.
Just because you've entered the retirement phase doesn't mean you should stop pursuing fulfilling work. Whether you're looking to increase your income or just want to keep busy, here are some suggestions for jobs you can still do post-retirement.
Many assume a second home means purchasing a house, condominium, or mobile/manufactured home. However, there are those who have long-term rentals that they call their second home.
Can you realistically consider a rental to be a second home? The answer is "yes!" Just as primary residence renter (e.g., houses or apartments) consider their abodes to be home, there is also the option of renting your second home.
When does a rental become a second home versus a vacation or other temporary arrangement?
Enthusiasm for second homes boomed during the COVID-19 pandemic due to the millions working remotely and low mortgage interest rates. While less favorable rates have cooled the market, many people continue to explore the prospect of a second home as:
Often, it's common that a combination of these reasons motivates interest in a second home.
If you're curious about the second home option, it's important to understand the details of what establishing a second home entails.
So you've decided to move. Congratulations! You are about to embark on a great adventure. However, you have many more decisions ahead.
As noted in our recent post, Should I Move in Retirement?, there can be several triggers for considering a new home later in life.
Among these, a health situation could urgently drive the question of where to live into immediate focus.
If you find yourself in this situation, the first step is to thoroughly assess your condition and the implications for your living situation. Consulting with medical professionals and family is crucial in this assessment. The result should be a living plan that provides the best support for your healthcare needs.
The elements of the plan need to consider several questions.
Retirement can be a wonderful time in a person's life, but it can also come with financial challenges. With fixed incomes and rising costs, it can be difficult for seniors to make ends meet. However, there are many ways for seniors to save money and stretch their budgets.
In this blog post, we will discuss over 150 simple ways for seniors to save money on everything from housing and utilities to healthcare and entertainment. From cutting back on unnecessary expenses to taking advantage of discounts and rewards programs, there are plenty of ways for seniors to save money and make the most of their retirement years. Whether you're looking to save money on everyday expenses or plan for a special vacation, this post will provide you with the tips and strategies you need to make your money go further.
As we age, life can take on a new dimension of joy and fulfillment. While some may view aging as a negative experience, the reality is that there are many positive aspects to growing older. The years of experience we accumulate as we age can provide us with a unique perspective on life that only comes from living it. We've been through a wide range of experiences and have developed a deep understanding of how different situations and people can impact us. And we've gained wisdom from self-reflection and living a long and varied life. These are just a few examples of the many benefits that come with aging.
This blog post will dive deeper into these benefits, exploring the many positive aspects of growing older. Whether in your 50s, 60s, or beyond, there is always something to look forward to and be grateful for. So, if you're feeling a bit down about getting older, know that there are many good things that come with age, and you can find joy and fulfillment in every stage of your life.