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Best Options for Buying or Selling a House

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We have been offered a seller-financed mortgage for a house we’d like to buy. Should we take it?

Correct! Wrong!

Any of the options may be true, depending on your particular situation.

How can I cut my living expenses without moving to a cheaper area or lowering my standard of living?

Correct! Wrong!

Gifting or selling your house to your children, and then living there, is the only option that will both maintain your lifestyle and reduce your costs.

We want a vacation home that will be a gathering place for our children and their families. Where should we buy to motivate the family to visit for many years to come?

Correct! Wrong!

Your adult children may relocate, and your own ability to hike, ski or climb over dunes may decline.

We found a nice condominium that we can afford, and know we need to review the board’s minutes and other condo documents before saying yes. What in particular should we be looking for?

Correct! Wrong!

After overhearing my sister-in-law in New Jersey talk about the joys of her NORC, I have a simple question I was too embarrassed to ask her: What is a NORC?

Correct! Wrong!

Researchers estimate that a third to half of people over 55 already live in a "naturally occurring retirement community."

We are getting married and both own fully paid-off houses in the same city. Which one should we call home?

Correct! Wrong!

You can modernize a home and make it accessible by renovating, but you can’t remodel the neighborhood.

I’m in my 60s and buying what I hope to be my last home. A 30-year mortgage is so much more affordable, but a 15-year would let me build up equity faster and even pay off the home. Which is smarter?

Correct! Wrong!

Unless you can pay cash and still have enough left over to fully fund your retirement, a 30-year mortgage gives you the security of a fixed rate with payments far lower than those of a 15-year mortgage.

I’m retiring early, selling my home in Ohio and moving someplace warm. I have decades ahead of me. Should I buy?

Correct! Wrong!

Buying usually makes more sense than renting if you plan to be in a place for a decade or more. But you might change your mind, especially if you are moving far away.

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