steve's White Mountain Blog


Early purchase of retirement property..the big upside of planning.

The Stock Market sucks, returns on FDIC insured accounts are abysmal, and taking a vacation is expensive. Have I just described your baby-boomer life's issues. I have a simple solution with the perfect timing for your 5-10-20 year retirement plan. Many of my clients are purchasing Vacation homes, where they love to recreate and can see themselves living after retirement.

The soft market presents great opportunities For retirement property planning. Buy now while prices are down and rent until you can move into your mountain home full-time. There are two options in a resort town, rent your place short term and be able to vacation 14 days a year while still making periodic maintenance visits or have a yearly lease which relieves you of the utilities and gives you a fixed monthly income. Both of these options allow for depreciation , interest deductions and other pre-taxes expenses.

Aside from the income and tax relief this strategy can provide, it also allows you to explore and become comfortable with your future full time surroundings. The Ski resort clients who have retired to my neck of the woods have found recreation, entertainment and friendship with their neighbors and are thrilled with their choice. The Lack of income tax , no broad based sales tax, and nearly  a million acres of White Mountain Nation Forest has made New Hampshire a great choice for future retirees.

What if we change our mind about our retirement location: the sweet thing about this pre-planning real estate purchase is with a simple 1031 exchange you can move on to another location deffer your capital gains and so long as you keep the newly acquired property in an active rental for 2 years (or more) you can still retire there when you're ready.

Our clients are looking for choices and real estate investments especially in the long term are looking very attractive compared to other places to park your savings these days. Let your clients know you have done your home work and have some great values to offer them.

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Comment balloon 6 commentsSteve Loynd • September 17 2008 08:49AM
Early purchase of retirement property.. the big upside of planning.
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