Buying My Houston Texas House In Retirement

Author : cashmobilehome home | Published On : 22 Sep 2021

The other day, a client show up and asked us, “It is too late to buy a retirement home?” Now, we knew he was asking this because he was quickly approaching his sunset years, but what made us sad was the fact that people still think home buying in Houston Texas is a preserve of the young.

So we came up with a pros and cons list for buying my home fast in retirement, and thought we should share it.

Pros and Cons of Buying My Houston Texas House in Retirement

Pros

The Ability to Build Equity

When you buy my home fast in retirement, you’ll be able to build equity by paying down the loan you used to buy that property. A lot of people don’t understand this but this is actually an investment that you can cash in any time. It doesn’t matter if you’re 30, 60, or 100 years old. If you manage to build equity in any property, you’ll always get this sense that you’ve attained financial freedom.   

No Unexpected Rental Increment

Have you ever got home and found a noticed slipped under your door? And once you go through the details, you realize your landlord has unilaterally decided to increases the rental charge on the house.

Packing your things and leaving is obviously not an option because moving is expensive as heck, so you just oblige. All that can be avoided if you invest in a good affordable home in Houston, Texas.

A Customized Living Environment

We don’t know about you, but some tenants aren’t allowed to even make repairs or updates should they feel the need to. and it’s not like the landlord is prepared to do it himself. They are just arrogant and not ready to listen to the voice of reason.

With a retirement home, you’ll have that peace of mind that you’ve been yearning for. You’ll never feel the need to ask for permission to make repairs, add updates, or do whatever you want.

Cons

The Tax Burden Falls on Your Shoulders

Every year, you’ll be required to pay taxes. Of course these taxes will depend on the features of your property, but they are out-of-pocket expenses that are annoying and cannot be avoided.

In addition, you’ll also have to cater to the homeowners insurance costs and several other miscellaneous expenses associated with homeownership in Houston, Texas.

Limited Mobility

Packing up and leaving will no longer be an option. And if you really want to leave, you’ll have to hire a real estate agent to help you sell my home quickly, or talk to a property investment company like We Buy Fast Houston houses.

Working with a realtor is cool and all, but you’ll be required to pay a six percent final sale commission before leaving the negotiating table. A requirement that doesn’t exist when working with a cash investor.

Final Word

So that’s basically our pros and cons list. We think buying my home in retirement is the wise choice, but we also understand that people have different needs.