• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Helen Miltiades Realty

  • Home
  • Blog
  • Search MLS
    • My Listings
    • Advanced Search
    • Map Search
    • Address Search
    • Listing ID Search
    • Rental Application
  • Buyers
    • Email Updates
    • Mortage Calculator
  • Sellers
    • What’s Your Home Worth
  • Communities
    • Ardsley Park
    • Fairway Oaks
    • Isle of Hope
    • Kensington Park
    • Midtown
    • Parkside
    • Tybee Island
    • Burnside Island
  • Contact
  • Applications
    • Tenant Application
    • Rentals
Home » Blog » Buyers » Baby Boomers Buying Houses in Savannah

Baby Boomers Buying Houses in Savannah

February 15, 2018 by Helen Miltiades

Good idea or scary move?

Baby Boomers Buying Houses in Savannah

It all depends on where you are in life, financially and physically. Should you downsize or invest? Move out or move up? These can be a lot of scary questions as baby boomers hit their retirement age. You may have made a lot of money over the past 30 years but with the drop in home prices over the last 8 years you may have lost a lot of it too. So where does that leave real estate investments today?

Many baby boomers have actually been delaying retirement for the basic fact that selling and downsizing just isn’t an option. They may owe more than the home is worth and this keeps them hanging onto it until it bounces back. Well, it has. Maybe not with the vengeance some would like but stronger certainly than we have seen in the past 4 years.  The number of existing homes sold is up about 8% nationwide according to the S&P and prices have reached over 12% higher than they were this time last year.  So now baby boomers are toying with the idea of selling or renting out and downsizing. Which is the best option and which makes the most sense financially?

Generally speaking, we know it’s better to own than rent but that’s usually if you are going to stay in your home more than 5 years.  Is that something baby boomers want to consider at this time? It all comes down to ease of living which has many implications as far as maintenance, finances and responsibility. If age 65 is no longer the retirement age, keeping a home or investing in new real estate may be well within the realm of possibility for baby boomers.  Buying a new home is sometimes a strain on the cash flow, not just in the down payment but in monthly taxes, insurance, fees and the mortgage payment. Even if buyers plan on paying cash, they must consider the inevitable costs associated with owning real estate. One smart plan may be to buy a good rental investment, live in it for a while, and then rent it out when you are ready to move on.  The equity remains and collects while the retirees are off enjoying the freedom.

So what makes the most sense for you? It really comes down to all the many variables associated with your specific retirement plan. I would love to talk to you about the options that might work when it comes to real estate in Savannah GA. Call me today and let’s talk.

 

Filed Under: Buyers, General Blog, Uncategorized Tagged With: retirement, savannah, senior

Primary Sidebar

Contact Me

Please email me or call: 912-238-4915 "I am never too busy for YOU and YOUR referrals! I am here to help!"

Quick Links

  • Property Finder
  • Home Value
  • Email Updates
  • Rentals

Quick Search

Login

Copyright © 2021 · Genesis Sample Theme on Genesis Framework · WordPress · Log in

MENU
  • Home
  • Blog
  • Search MLS
    • My Listings
    • Advanced Search
    • Map Search
    • Address Search
    • Listing ID Search
    • Rental Application
  • Buyers
    • Email Updates
    • Mortage Calculator
  • Sellers
    • What’s Your Home Worth
  • Communities
    • Ardsley Park
    • Fairway Oaks
    • Isle of Hope
    • Kensington Park
    • Midtown
    • Parkside
    • Tybee Island
    • Burnside Island
  • Contact
  • Applications
    • Tenant Application
    • Rentals