Thinking of choosing South Lake Tahoe real estate as your retirement spot? With so many baby boomers entering retirement, a lot are wondering if it is time to move. It is important to truthfully access whether your current home has the capabilities of being a place to retire in. If the property no longer suits your needs, is too big, has to many stairs, is too hard to keep up with, it may be time to move. One of the perks of being retired is that you are no longer working and you have the flexibility to relocate anywhere you want. South Lake Tahoe is a great place to call home for a few reasons. It is a small town making it easy to access local businesses with minimal traffic, there are nearby cities, there is a ton to do and with so much outdoor recreation all year around, it is the perfect place for relatives and friends to come visit. There are a few things to consider when retiring though. Check out these factors that are necessary when looking at homes for sale in South Lake Tahoe.
1. Affordability
This is big. Homes for sale in South Lake Tahoe cost money to run, as they do everywhere. From property taxes to insurance to utilities and last second maintenance repairs, there are a lot of factors to keep in mind. Would living in a community with a HOA be cheaper than the cost it would take to hire out your own contractors and landscapers? Will insurance and taxes cost more than where you currently live? Look at your monthly income and ask yourself if you can afford to buy in the area you desire. Your South Lake Tahoe Realtor will be able to advise and help you find a property that matches your needs, wants and budgets.
2. Equity
If your current home has equity, you may be able to put that towards the next home you purchase. When you maintain a good amount of equity, you are able to use that as funds to tap into during an emergency, loan or reverse mortgage. This may result in you being able to buy South Lake Tahoe real estate with little to no mortgage.
3. Pets
Renting may seem like a good, easy option when retiring. After all, the homeowner is responsible for all repairs which takes off a big financial and physical burden. However, renting dictates a lot of what you cannot do with this place that you are calling home. This also includes whether or not you can have pets. If not being able to have pets is a deal breaker, this is another reason why purchasing real estate in South Lake Tahoe is a good choice.
4. Visitors
Now that you are retired, you want a space that will be a comfortable location for family and friends to come visit. Lake Tahoe has so many attractions, we are sure that it won’t take much to get your favorite people to come visit you in your new digs. If you are looking for an outdoor space or upstairs bonus room for the young children in the family to enjoy, let your South Lake Tahoe realtor know. If you want something a bit removed from the excitement of the city limits, or want to be walking distance to local businesses, your South Lake Tahoe realtor will be able to find the perfect retirement home that will also please your extended friends and family.
5. Mobility & Convenience
Speaking of home features that please, you want to keep access in mind when looking for South Lake Tahoe homes for sale. No one WANTS to assume that they will need a wheelchair to get around, especially with how people are more active during their retirement and living longer. However, if this is your forever home, make sure that it can accommodate being able to get around with ease as you age. Further more, if you want to be closer to certain features, like the movie theatre, golf course, casinos, lake or trails, let your Realtor in South Lake Tahoe know.
You can be a little more picky when it comes to purchasing the home you plan on living in for the rest of your life. While the current market conditions may require a little wiggle room, there are more factors that need to be considered. Your Realtor in South Lake Tahoe will be able to work with you to find that dream house, but you will definitely need to look at all your options and determine what your budget is, what your needs are and how important they are versus your wants. If you have questions about purchasing South Lake Tahoe real estate, feel free to let me know. I would be happy to help.
