3 Questions before buying a second home

Probably don't need me to tell you how bad the real estate market. I'm sure you already know now and I can personally attest to him. I have my own House on the market, get this, nearly two years without any buyers. Yes this is bad.

[Photo: 12 money mistakes nearly everyone makes]

Upside down real estate market in is that if you're looking to buy, you can find a ton of great deals. Many people actually buy homes with cash, even years before retirement. After all, if you can buy a good home, for as low as $ 25.000, why don't you go to now begin to rise again prices? Has never been a better time to buy a House, especially for retirement homes.

So, if you're thinking about buying a retirement home, real estate prices are rock bottom, here are a few things you should consider before closing the deal.

1. you want to live in a community?

Many retirees love the convenience of retirement communities, because most of these communities offer on-site health care (even a local doctor), shopping, organized activities and security. There is also the added benefit of living together with people of your age. On the other hand many people want to live in his house in a neighborhood full of a variety of people from all age groups. Whatever your preference, please make sure you think about both options carefully before buying a retirement home and real estate investment.

2. consider your future

If you decide to buy a house in ordinary surroundings, it is important to take a critical look at the House. For example, you can link up the front steps, but 10 years from now, those same steps can pose a serious threat to health.

[Visit United States News blog my money for best money tips from around the Web.]

Some of the smaller details like doorknobs and lighting can easily be adjusted, as you age, and change your physical capabilities. But other, more important details rollers as related to the layout of your House, will be much more costly to fix later. You even want to get professional home inspection yet, but here are the most important things you should look for retirement homes:

Ladders: As you go up the stairs to get to the front door? You will climb the ladder of laundry or get into your bedroom? An ideal retirement homes must be able to single life, meaning one-room, laundry and kitchen facilities are all located on the ground floor.Yard: may require large courtyard now as home garden b. but who will take care of the yard, as you get older?Doorways: Are wide enough to accommodate a wheelchair, Walker or doorways? Again you can not have or need now, but what about in the coming years?District: is nearby? How do people live there now? It is impossible to predict what neighborhood change over the years, but if the pane is relatively close to the bad part of town, there is a risk of things could change for the worse. There are steps that can be used to prevent domestic burglary, but the transition to a safe area is one of the best ways to reduce the risk of breaking the modules and crime.Size: the more your home, the more space you are going to clean, heating and cooling. It will be a real problem, making your Home energy efficient. Please consider this before you invest in a sprawling McMansion.Location: How close it is home to the grocery store, library, or the post office? How much you'll have to drive to get to your doctor or emergency room? There are hiking trails, tennis courts and golf courses close to stay active?

3. consider family

The older you get, the more you are going to depend on your family to help care for you. The extent of your loved ones? You will have additional guest room when they come to visit? If your relatives or caretakers live in a State or a few hours, you would think twice before you invest in a new home. Remember just because you don't have to their assistance does not mean that you will not be in the future.

What are your thoughts about buying retirement homes now while the real estate market is down? Have you or someone you know have gone through the process? What are some other factors?

Heather Levin is the source for several top blogs of personal finance including Money Crashers and Green dollars. Three things she is passionate about the life saving money, protecting the environment and happy.

View the original article here