Buying Houses at Retirement-Is It Risky?
Published on Thursday, 28 April 2011
Are you one of the people who are planning to buy a house during these times that the economy is like a seesaw? Then you need to beware especially if you are on your retirement age because it could be very risky. There are lots of people who say that a man or woman on his or her old age can no longer pay for the mortgage. But don't worry because you can still pursue your dreams owing to the fact that there is no law against retirees in buying home at their age. In fact, if you cannot make the specific monthly payment amount, your relatives can always be in charge of that. But if you know that you don't have enough savings to pay for the mortgage, buying a house is not really for you because you will just add your burdens especially in the financial aspect. This is the part where home buying really becomes risky. But what if you are confident of your financial condition? Then just pursue your home buying plan because you can always have a source for the mortgage payment. So, this implies that home buying at retirement only becomes risky if you don't have sufficient money.
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