I'm retired and my wife will retire next spring. We were going to wait until next spring to buy in TV, but decided that buying now made more sense. Although I didn't expect any issues with qualifying for a mortgage based on my retirement income and savings, being able to include my wife's full-time employment on our application removed all of our concerns.
Our logic with buying in TV now was based on the current property values and that interest rates are still low ( although not as low a few months ago). It was this combination of home value and low interest rates that made the timing right - for us.
Although we'll have to support two homes, we're confident that it won't be a problem for the short term. Our plan is to put our current home ( 10 room, 5 BR ), which is west of Boston, up for sale next spring. Once sold, we plan on purchasing a small 2 BR condo locally and then happily splitting our time between TV and Natick, MA. As time progresses, we'll spend more time in TV.
Given that it is now snowing here, I really, really, can't wait to move in to our new home next month. Best of luck with your decision!
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Regards:
Dan
Natick, MA
Village of Buttonwood 1/12/11
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