Scottsdale Arizona aah! Who wouldn't want to retire there?
Beautiful weather, all the golfing you can handle and an up market lifestyle with plenty of culture. There are also endless community education courses and an ever increasing realty market.
You are nodding your head and groaning. The property market is increasing and you can't get your foot on the ladder for another few years. Frustrating!
Well, think again - you can buy a home now and it will be ready for you when you are about to retire. However, you do have to move your thinking slightly sideways to achieve this.
When we think of retirement, we think of the perfect home, unique design, maybe all on one floor, with a great view, perhaps on acreage, or with a double garage or whatever your fancy is.
Yes, well put that picture on hold for a few years, because we are talking about a stepping stone here. But, a stepping stone that should get you an even better retirement home at an even lower cost to you.
Okay, well by now I should have your attention, so let's get down to business.
Realty prices in Scottsdale have more than doubled (almost tripled) between the years 2000 to 2006. However with the baby boomers coming to the golden retirement age of 65 in the year 2011, there will probably be a rush on housing.
The laws of supply and demand suggest that this would add even further to the upward price trend, particularly in the choice retirement area of Scottsdale.
Usually in the housing market, we see a rise or a drop right across the board. So, theoretically, if you bought a modest home for $100,000 in 2000, it will be worth between $200,000 and $300,000 by now.
Houses can still be found in Scottsdale in the $200,000 (or less) price range. If you buy a modest one or two bedroom home now, in a few years it will most likely have increased its value. Guaranteed pensions are taken into account by the bank, so no problem there.
But that is only half the story. If you buy a modest home, you can rent it and let it pay for itself for a few years. You can go through a rental agent for this, this way you do not have to fuss with it, or you can take a holiday in your new property and finalize a rental agreement while you are there.
If the market trend continues to rise in the next few years, you will simply smile and rub your hands together! There is one more advantage to this plan. When you are ready to retire, you can stay in your own Scottsdale home and choose your perfect retirement home at your own leisurely pace.
Written on behalf of Melissa O'Connell. Melissa is familiar with all types of properties in the Scottsdale Arizona Real Estate area and has worked for 15 years as a Scottsdale real estate consultant.
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