Naples Real Estate

RETIRE LATER, BUY THE HOUSE NOWWith prices in many areas at a low ebb, baby boomers should consider buyingtheir retirement home now, even if they're still years away from actuallymoving, allowing renters to pay the bills for now. Here's some advice for peopleconsidering this strategy:- Shop carefully. Buy a home that can be rented for a rate that, after taxconsiderations, covers the mortgage, real estate taxes and insurance.- Study housing trends. Ask the local or state planning department fordemographic and economic data. The information can reveal facts that willinfluence whether or not to buy. For example, big companies going out ofbusiness or military base closings can be bad news.- Don't forget maintenance. Property managers usually charge a percentage of themonthly rent. Family members may do the job for free but could be ill equippedto make repairs.- Consider financing. Boomers with sufficient equity in their current home cantap it to either buy their retirement home outright or secure a much lowermortgage rate compared to the loan rate usually charged to buyers of investmentproperty www.palliniSELLS.com