Buy Your Retirement Home Before You Retire

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If you’ve been thinking of buying a second home, you may not want to wait much longer. You may have heard that mortgage rates are expected to rise this year, which means waiting could cost you. Securing a mortgage for your second home now, while rates are low, means you can buy more home for your money.

If retirement is in your 5 to 10 year plan, you may be starting to think about buying your retirement home now. Or, you might want to buy a second home as a vacation home for your family. Either way, now is a good time to buy.

According to Florida Trend, the statewide median sales price for single-family existing homes in February was $225,000, up 12.5% from the previous year, according to data from Florida Realtors’ research department. The statewide median price for townhouse-condo properties in February was $167,500, up 11.7% over the year-ago figure. February marked the 63rd month in a row that statewide median prices for both sectors rose year-over-year. The median is the midpoint; half the homes sold for more, half for less.

Florida Realty Group President Maria Wells told Florida Trend magazine, “In these kinds of market conditions, serious home buyers must be prepared to act fast, and work closely with a local Realtor to find the right home for their needs and their budget.”

We Florida Financial can pre-qualify you for a mortgage that will fit your budget. Then, you can go house hunting within your price range. You might be surprised how much you qualify for. We Florida Financial’s 5/1 adjustable rate mortgage currently offers our lowest rate and comes with a 2% closing cost credit – which will lower the amount you pay out of your pocket at closing significantly.

A 5/1 mortgage makes a lot of sense for those homeowners shopping for a retirement home. Although I don’t believe adjustable rate mortgages are anything to be concerned about, a lot of home buyers are more comfortable with a fixed rate mortgage. The 5/1 mortgage is fixed for the first five years. If your retirement is 5 to 10 years away, buy your retirement home now with the lowest rate possible. When you retire you’ll probably sell your current home, in which case you can roll the profit into your retirement home and payoff or refinance into a fixed rate mortgage at that time.

Call me at 954-501-1070 or This email address is being protected from spambots. You need JavaScript enabled to view it. if you’re wondering how much home you can qualify for. I’m happy to meet you anywhere it’s convenient for you, or at a We Florida Financial branch office.