Should You Build Your Future Retirement Home Before You Retire?

Should You Build Your Future Retirement Home Before You Retire?

Should You Build Your Future Retirement Home Before You Retire?Depending on what stage of life you are in right now, it is possible that you’re thinking ahead to retirement. If that is the case, you may also have an idea of where you want to eventually end up when you are no longer tied to your employer.

If you already have a location picked out, it could make sense to begin building your home there now – and there are several good reasons for this. First, the new home building process can take time – in some cases, a year or more (based on the size, location, and desired amenities).

There could also be weather-related and / or materials-related delays that slow down the process. With that in mind, getting started on your home building project now can help to better ensure that your new abode will be ready when you are.

In addition, even if your retirement date isn’t exactly right around the corner, being able to spend some time in your new home will give you more time to take care of even more details. It can also allow you to familiarize yourself with the surrounding area.

Building your future retirement home now could also have some significant financial benefits. For instance, because interest rates are still at relatively low levels – but are forecast to go up in the future – it could make sense for you to lock into a lower rate mortgage sooner rather than later.

On top of that, depending on when you intend to fully retire, you could also have quite a few mortgage payments already under your belt before you move into your new home on a full-time basis.

If you’re considering building a new custom home in Orlando or the surrounding Central Florida, give us a call. We can provide you with all of the details you need on the process of taking your ideas and turning them into a reality for your next home.