It’s easy to get caught up with life and all of its demands, and it’s even easier to see retirement as far off in the distant future. That is until we get there. Choosing your perfect home for retirement is a huge, and often difficult, decision to make. With so much to consider, it’s important to give yourself plenty of time. If you’re planning to leave work and retreat to the location of your dreams in the next 5-10 years, here’s why it’s not a bad idea to start thinking about your retirement home now.
You’ll have time to plan
No one wants to rush big decisions. By browsing homes before you retire, you’ll have ample time to develop a checklist of what you’re looking for in a dream retirement property, and a list of deal breakers.
Maybe you want to stay in the same place to keep your friends and social network? Or perhaps you’d rather a complete change in lifestyle? By thinking about these choices early on, you’ll have time to visit new potential locations, explore different options, and make informed decisions.
You’ll have more financial security
Buying a second home while you are still working gives you a lot of financial security. Not only does it make it much easier to get a mortgage approved, but by purchasing a home sooner you can pay of mortgages earlier and have a debt-free retirement.
When you buy early, your new retirement home can also double up as a luxurious holiday retreat for your family – and for renters! We all know that Whistler is a dream location for tourists, so rent your new property out to visitors for an easy second stream of income.
You won’t need to rush the building process
If you do decide to build your home – before you invest in that spacious lot with stunning lakeside views – it’s worth asking yourself how long the construction process will take. Even finding the right parcel of land can take up to a year, and that’s before you’ve had your planning approved, foundations set and customizations added. The building process can’t be rushed, and often issues arise that prolong it, so give yourself plenty of time.
You’ll have time for renovations
If you decide to buy instead of build, the odds are you’ll be looking to make some improvements to the place you’ll be living in. By purchasing your home early enough, you will have plenty of time to alter, decorate and perfect your new home to make it suitable as a permanent residence. Completing your home before you retire means that once retirement comes around you’ll have nothing left to do but relax- which is just the way it should be!
We hope you enjoy your property search! Whistler has a variety of luxurious and affordable homes, condos and chalets for sale. If you need any help searching for your ideal retirement property, local real estate professional Lance Lundy would be happy to help. You can get in contact here.