(Mid-America Pension Rights Project): Buying Your Dream Retirement Home – Think Before You Leap

Via Kiplinger

By Lisa Brown

It happens every summer: Clients return from a spectacular vacation and tell me they’ve found their dream retirement home.

Many people nearing retirement have long envisioned buying or building a home on the ocean or with scenic mountain views. While some have visited their idyllic spot over several years and mapped out a plan, others become enamored after only a single visit. They had the time of their lives over a week-long vacation and are now ready to plunk down a large amount of their retirement nest egg on this new home.

In their excitement, clients want to know if they have enough money for their dream home. Before jumping into the numbers, I like to ask several questions to make certain this is the right move. While I share their enthusiasm for the future, I want to make certain their emotions are not undoing several years of sound financial planning.

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