Vacation Home Now, Retirement Home Later
Posted February 2nd, 2012 | by The Update
This incredible island home in Parrot Cay in the Turks and Caicos is an amazing vacation home now and a fabulous retirement home for later. Click here for more information.
“It sounds like a dream situation: Buy an oceanfront cottage as a vacation home, and years later, use it as an idyllic retirement home. Ideally, this sounds like it could work, but with any investment, especially real estate, there are significant risks to be weighed.
“For most people, the goal in buying real estate is to have a comfortable home to live in, as well as increasing net wealth. Buying a vacation home now for retirement later may very well increase someone’s wealth over the long term. But, since all real estate is local, this decision depends on each market. Therefore, it’s necessary to weigh whether investing elsewhere like in a lower risk, lower hassle diversified portfolio of financial assets like stocks and/or bonds could have a better outcome than real estate.