In retirement, it can be an extremely sound investment to purchase a second property. Whether it’s to rent out in order to provide a regular income for yourself, or to renovate and sell for a profit, property investment can be a saving grace in your golden years.
Housing prices can go as low as $107,276 throughout Illinois, $115,510 in Idaho and an incredible $98,233 in Georgia. But, meanwhile, the average rental price remains over $1,000 per month – a comfortable income in your retirement.
But it still isn’t easy to afford a second property, especially if all of your savings are being drained away by other expenses like medical bills, dependent children or home repairs.
However, you could use a Reverse Mortgage to give you the cash boost needed to reach a price. You can release money from your current home, and utilize it to get another!
House Price Sources: Business Insider