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Quality of Life in 04105 : Real Estate Advice

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  • Home Buying2
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Activity 2
Mon Mar 17, 2014
Annette Lawrence answered:
As Linda indicated, this is a life style choice.
At 66 years of age it is possible you want to enjoy your new freedoms and be available to travel more and spend extended time in place like Juneau or San Juan or even a stint in Key West.

Consult with your financial adviser to determine the best use of your resources that will align with your short and long term goals.

A rule of thumb would be if you are staying longer that 5 years, you should buy. Purchase methods and local economy can skew that time line.
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Mon Mar 17, 2014
My NC Homes Team answered:
The advantages are no mortgage payments and as cash buyers you put yourselves in the strongest possible negotiating position possible. In essence you're paying yourselves a rate of interest equal to whatever the mortgage interest rate would be.

The disadvantages are you pulling retirement money out that you may need at some point in the future and you're losing whatever rate of return it's generating.

Whether this is a good strategy is hard for any one of us who responds to say. We don't know enough about your financial status in specific; nor are the majority of us certified as financial planners, advisers etc. This is something you should be discussing with your financial adviser.
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