Buying a Home
Hi Terry,
My husband and I are retired and want to buy our last home. Our current home is paid for and we were thinking of buying a place and move in gradually before we sell our current home. Since we don’t want a loan (or do we?) Is it a good idea to use some of our money from our investments to pay cash and them put the money back in once we sell our current home?
Thanks so much for everything you do. FYI: I found a great financial advisor from Pam Krueger, thanks to your suggestion.
Terry Says
Well, I’m guessing any Wealthramp advisor that Pam recommends would tell you to be cautious about owning two homes right now. I just published a column, check my website, about the likelihood of a recession because of all the uncertainty, tariffs, federal layoffs, etc. You could be stuck owning two homes if people are hesitant to buy yours. On the other hand, you could get a bargain if housing slows down.
And do check on your ability to get a mortgage, once you’re retired!
