When looking for a new home, one aspect that potential Salt Lake City home buyers often forget to consider is how their real estate purchase will affect them when it’s time for retirement.
Making smart Salt Lake City real estate choices, either when buying a Provo primary residence or investment property, can make a big difference with helping you retire comfortably and avoid money-draining assets.
When looking for a property, be sure you can comfortably afford the property and avoid borrowing at the top of your price range. Also, make sure it’s a property you want to keep for a long time, especially if it’s a personal residence, and that the property creates positive net cash flow if it’s a rental investment. As we’ve seen in recent years with the market downturn, owners saddled with properties that have negative cash flow cannot always quickly buy and sell Ogden real estate at a profit.
However, because of the recent adjustment in Salt Lake City housing prices in the market, now is a great time to consider buying either an upgrade that you can pay off before retirement, commercial, or land as a long term investment.
A smart real estate agent who knows the Salt Lake City area should be able to alert you to properties for your long term needs. If your real estate purchases are sound, you can add net wealth to your retirement, letting you retire worry free and give you a comfortable lifestyle. Call me today to get advice and assistance in buying your next long term real estate property!