Top Considerations For Retirees When Looking For A New Home

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Top Considerations For Retirees When Looking For A New Home
Top Considerations For Retirees When Looking For A New Home

What are the Top Considerations For Retirees When Looking For A New Home?

Moving to a less expensive home if you are a retiree is considered a significant way to cut your cost of living and improve your finances. Nevertheless, it is advisable to be aware of the resultant costs such as hiring a moving company, the associated taxes and fees. Such considerations are helpful in ascertaining whether moving a long distance to a new home is the right decision to make.

Consider the following things before you look for a new home in retirement.

The effect of your monthly mortgage payment on your budget

Financial advisors will tell you that you need to have a retirement budget. Have you factored in the cost of paying the mortgage into your budget? Evaluate your cash flow to establish the impact of getting a new home on your retirement budget. You may experience reduced mortgage payments if you are moving to a suburban home from a large, expensive home in the big city. You need to make sure that the mortgage payments that you will make are not so high as to make it hard for you to cater for your other needs and wants in retirement.

Evaluate the additional costs

Owning a home is considered cheaper than living in a rented one, although this might not be the case in every town. There are additional costs that come with homeownership, which in some cases, you might not expect. For instance, upgrades and repairs are costs that can eat into your retirement budget if you have not planned well. Thus, it is advisable to avoid moving to an older home that may require upgrades or repairs in the event that you are working on a tight retirement budget.

A-1 Auto Transport can help you move your household goods nationwide. Call 888-509-3213 to get a free, no obligation to buy price quote on interstate moving services.

Ability to qualify for a retirement mortgage

In some cases, the law might not allow you to get a mortgage due to your old age. Nevertheless, a large percentage of lenders will rely on your credit score and source of income to evaluate whether you qualify for a mortgage. Retirees experience a significant drop in their annual income after they have stopped working. Consult a lender prior to applying to find out whether your decreasing income will help you qualify for a mortgage.

Renting vs. buying

There are conditions that make renting a home much better than buying one. For example, with a rented home, you will not have to worry about homeowners insurance, or property taxes. Of course there is the issue of making monthly payments within a stipulated time; this can be a real source of stress for a retiree. But, whatever the perceived benefits, if paying a mortgage seems like a challenge to you, it is advisable to move into a rented house.

The aforementioned are some of the important and major factors you need to consider when thinking about buying a home in retirement. Once you are settled on the best home for you hiring a professional moving company will help you settle with ease.

Joe WebsterWritten By:Joe WebsterConnect with Joe Webster on facebookConnect with Joe Webster on linkedin

Joe Webster began his journey in the auto transport field by attending the University of Southern California (USC), where he graduated with a Bachelor of Business Marketing. 

After college, he started his career in the auto transport industry from the bottom up and has done virtually every job there is to do at A-1 Auto Transport, including but not limited to: Truck Driver, Dispatch, Sales, PR, Bookkeeping, Transport Planner, Transport Manager, International Transport Manager, Brokering, Customer Service, and Marketing. Working with his mentor Tony Taylor, Joe Webster has learned the ins and outs of this industry which is largely misunderstood. 

With over 30 years experience in the industry, we've been helping people ship their vehicles, motorcycles, RV's, heavy equipment, household goods and more across the country or overseas without a hitch. Ask us anything.

Email me - info@a1autotransport.com

Satisfied Customers

“I am meticulous when it comes to everything. At first, I was thinking of just driving all the way to Illinois from New Jersey. A friend recommended me to go to A1 Auto Transport and told me a lot of good things about them. I refused initially because I had filed a 4 day leave just to drive and visit my mother. But things did not go well. My boss asked me to cancel my leave because a very important client asked for an urgent meeting, and the manager could not attend to it. I was hopeless and took the risk of asking help from A1. The notice was short and I forgot I needed to inform them in advance. After a couple of hours, I received a call and they told me they found a way to book me with no extra fees. I am so thankful I got to attend to my work matters. I did not get to see my mother, but the vehicle and items inside it were in perfect condition as if it was me who took care of it. I owe you guys big time! I got one huge deal from our client.”

“The plan was to ship my car from California to Utah. I went through nearly 20 quotes after using an auto shipping site which linked to a bunch of brokers. Finally, I found A1 Auto Transport, a company with its own trucks with great reviews. I was sold. Joe was very competent, gave off the impression he’d done this a million times, and it really showed throughout the transport. He listened to my request carefully, offered me several options, stayed in touch during the transport, and made sure I was happy with everything. Overall, a great company which I would definitely recommend to others!”

“I’m so glad I met you Joe!! A truly fortunate experience. Having to transport a car to Minnesota, I was stunned to see the company, who was supposed to take care of it, just vanish. I couldn’t reach them anymore, like they went bankrupt overnight. However, I was lucky enough to not pay anything, so I simply researched some more until I found A1 Auto Transport. Joe answered my call the first time and we soon agreed on a date and a quote. Unfortunately, I got caught up in work and forgot about it. The order was not confirmed, so Joe must’ve thought I changed my mind. I called him the next day and arranged for a new date. This time, I made a note on my phone and it went well. I replied to his email this time, and the driver arrived at a parking lot down the street on time, as promised. The driver was nice enough to not mention my previous mistake. He delivered my car in just 3 days. Upon careful inspection, there were no scratches or damage done to it during transport. Joe was there along with the driver and they both waited patiently until I was satisfied. Thanks!”

“A1 Auto is kind of like your favourite mom and pop pizza parlour, the one you can’t get enough of despite all the new, expensive avant-garde pizza shops that have mushroomed conspicuously across the entire neighbourhood and seem to have taken over the whole world...but not you. Because you value quality and genuine customer service, and know this business understands and works doubly hard to give you your money’s worth. I’ve been using A1 Auto Transport whenever I left California for business: they may not be the cheapest car transporters around, but the sheer professionalism, dedication, and heart they put into their work is just amazing and worth my every dime. I’m probably one of the most sceptical people you would ever meet. I’m rarely convinced when bombarded with dubious, self-congratulating ads of companies that look like they’ve spent tons of money on marketing materials just to lure your average guy in. A1 Auto Transport is the complete opposite of these companies. My car always arrived promptly on schedule, never with a hint of scratch or dirt or damage, and they keep me updated every step of the process. When you’ve found a company whose genuine care for their customers comes naturally, you stand by them no matter what. It’s the most logical thing to do.”

“A1 Auto Transport helped me move a vehicle to Iowa from Houston. I was a bit nervous, no knowing much about such services. Thanks to Joe, I was able to clear the fog a little. He answered all my questions and explained everything in a way that left no room for interpretation. The details were straightforward. I picked Sunday as the pickup date, since I wasn’t at work, and they accommodated me. The truck arrived an hour early, yet the driver patiently waited for me to arrive. He thoroughly checked my car for scratches or anything that might affect the transport then drove it onto the truck. I was given a 2 day time window during which the car was supposed to arrive in, and it got to Iowa in the evening of the first day. The trip didn’t damage it at all. Next time a friend wants to move, I’ll surely recommend A1 Auto Transport.”

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