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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.

Active Adult Communities in Savannah and Pooler GA

If you’re an active adult or over 55 looking for a retirement community with an active social calendar, events, and a beautiful setting there are several in Savannah Quarters just outside downtown Savannah in Pooler. Westbrook Villas and The Fairways both offer beautiful homes priced from the mid-$200,000 to about $400,000.

Just because you’re retired doesn’t mean you’re ready for assisted living. Retirement can mean so many things to different people. Are you looking to be on your own, yet still have the comfort and security of a protected community? The Westbrook Villas and Fairways both offer security and comfort with low maintenance homes, attached villas and town houses.

Savannah Quarters is a golf and country club community located outside of Savannah Georgia. With affordable homes starting at about $200,000, residents are minutes from the downtown Savannah area, Gulf of Mexico beaches, the airport, and nestled within a beautiful community with resort style amenities and lush landscaping.

Savannah Quarters has several individual neighborhoods including Westbrook Villas which is located along the 18-hole signature Greg Norman golf course. These single-story floor plans with optional second floors feature spacious layouts from 2000 to nearly 3000 ft.². Residents enjoy the choice of two, three, or four bedroom floor plans starting at around $220,000. There are several freestanding villas, single home sites, and maintenance free townhomes.

The Fairways is an additional adult community located in savannas gated neighborhood of Savannah Quarters. With six floor plans to choose from, professionally designed landscape, and resort style amenities, there’s nothing you’ll miss about the fantastic home sites at The Fairways. These townhomes provide bonus rooms, sunrooms, screened in porches and lanais, spacious layouts, and lots of on-site amenities such as a swimming pool, fitness center and clubhouse. The Fairways are priced from about $250,000 and provide the low maintenance lifestyle you’re looking for.

For more active adult communities in Savannah Quarters or surrounding neighborhoods and cities such as Pooler and Richmond Hill, call my office today. I would be honored to help you find the right townhome or property for sale in an adult community.

More for buyers:

5 Questions You Must Ask Your Realtor

Should I Buy or Rent a Home in Savannah After Retirement?

5 Tips on How to Prepare for Buying a House

Your Savannah Realtor®

Savannah Georgia is a wonderful place to call home and whether you’re buying, selling, or investing in a home, condo, or any property in our area I would be happy to help facilitate the transaction and represent you on your behalf. My specialty is Savannah real estate and because I know the area, the market, the communities and the people, I can make your home buying or selling experience a pleasant venture. Contact me today for more information on how we can get started.