Top 10 Home Buying Success Tips

June 2, 2014

If you’re considering retiring or relocating soon, an article in Forbes offers insight into how Boomers can navigate the current real estate market.” The article goes on to say, “There’s no single strategy that works for everybody—these days, retirement can mean very different things for different people. But no matter where you fall on the spectrum, one thing’s for certain: Buying what will likely be your last home is nothing like buying your first.” We liked these… Boomer Home Buying Success Tips

  1. Acclimate before you relocate. If weather is a key consideration when you’re looking to buy, places like Delaware have a lot to offer.
  2. Get to know the neighborhood and its characters. Remember, your fellow residents will now be your new friends.
  3. Check out the medical care. Here’s a List of Delaware Hospitals
  4. Factor in local tax rates. The Kiplinger Tax Map offers information on a range of taxes. Click here to compare state taxes.
  5. Time your buy to get the best price. Like the pricing but not quite ready to relocate? Consider buying the home and renting to another retiree who wants to rent before they move. We are a full service brokerage and will be happy to handle the short-term rental of your home.
  6. Study the community financials. Read our blog article, “Why you should read those HOA documents in Delaware”, then carefully review the financial records of your prospective homeowners’ association.
  7. Scope out the neighborhood’s approval process. Learn about what’s required by consulting with your broker or REALTOR®
  8. Explore “membership.” Questions like, “Does my HOA own the clubhouse?” are explored in this article and what is covered by Delaware law.
  9. Scrutinize the activity calendar. Spend some time figuring out if the community you’re buying into provides activities you take seriously.
  10. Research the restrictions. Be aware of any rental and resale restrictions. You may be startled by what some retirement communities do not allow.

To read the full Forbes article, click here.