Real Estate Rentals

My husband and I are approaching our retirement years. For the first time in the history of our country we are getting to the point where we are going to have more people retired than are in the work force. This statistic has been talked about for several years. I think part of it was a scare tactic to get people to save more money and to also make investments at a time when the economy was in a slump. Financially we have done some good planning and we have retirement funds that will allow us to keep a similar lifestyle to the one that we are presently leading. Our main concern is filling our time so that we are not bored or getting on each other’s nerves. Our next door neighbors have been retired for two years and they report that there are times when they have to get away from each other.

We own a home on a lake in Minnesota. By the time we are retired the house will be paid for. So many people that we know have opted to buy a second home in a warmer climate for the winter months. We both love the winter but agree that it would be nice to get out of the cold and snow for a few weeks each year. We started looking into real estate rentals so we could explore some options. We are not sure where we would want to spend this time because we have never lived any where other than Minnesota. We thought by looking at real estate rentals we would have a chance to get a feel fro an area without making a huge financial investment. Many times real estate rentals are properties that the realty company purchased and are renting them out until they sell. We liked this idea because we would not be locked into a long term lease and if we did like the area and the property we could buy it.

We knew that we did not want to go to the southern states where the humidity is extreme. We had also heard that the western desert states are getting quite over crowed and expensive. We met with a realtor from a nation wide realty company and asked him to help us locate some real estate rentals in different areas. We told him how much we would be willing to pay for the real estate rentals as well as the length of time we would want them for. The realtor suggested picking out a couple of areas of the country that we are interested in and to go on a winter vacation there to get some feel of the area. We thought this sounded like a great idea and we plan to spend our vacations doing that over the next three years. We feel it is important to do as much planning as possible.

Summary: Real estate rentals are a great way to get to know another location without making a commitment. Most people as they age will buy a secondary home for vacation and rent it out when they are not there. In order to get a feeling for the neighborhood, it is necessary to spend some time there. Rentals give you the perfect opportunity to do so at a reasonable price.

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