Why buy a Retirement Home before you retire

Goa is an amazing place to live no matter what stage of life you are in. From the pristine beaches, the lush greenery, to the exquisite architectural ruins, Goa is full of amazing surprises. It’s …

kasu assets goa

Goa is an amazing place to live no matter what stage of life you are in. From the pristine beaches, the lush greenery, to the exquisite architectural ruins, Goa is full of amazing surprises. It’s got a warm, sunny climate, plenty of outstanding dining and entertainment options, and is a brilliant host altogether to the different people hailing from all around the globe.

Thousands of people migrate to Goa every year. Firstly, backpackers looking to work and live cheaply by the beachside. Secondly, young, married couples who wish to enjoy a better quality of life and raise a family. Next, we have the middle-aged, who are looking to enjoy the great food and nightlife the state offers, while planning to invest in a home for the future. And of course, those in the golden years – those who want to give up the crowded cities they’ve lived and worked in for decades, in exchange of the clean air, greenery, and sunshine of Goa. For them, opting for a retirement home in Goa is a decision they would never regret.

Why buy a Luxury Second Home in Goa

Instead of buying a home in Goa after you retire, here are a few reasons as to why you should buy your retirement home much before your retirement:

It’s Easier To Get A Home Loan

It’s a widely known fact that the older you are, the harder it is for you to get funds or a loan from your bank. The younger a customer, the more likely they are to pay back their home loans on time. Since young people are still earning an income (or are likely to be employed), they are likely to be able to make EMI payments and clear off their debts. Any bonuses or surplus money that individuals make at this time can go towards finishing off their loans early. They may also have good debt ratios and cash flows, so the banks wouldn’t hesitate and would probably even offer better interest rates since they are a lower risk. Younger individuals are also less likely to expire as compared to senior citizens and hence, are a bank’s preferred customer.

Banks can be exceedingly conservative when it comes to offering senior citizens a home loan. This is because of the fact that old people are usually risky borrowers. In case of a medical emergency or unforeseen circumstance, an older individual will divert his fixed monthly budget to dealing with the crisis at hand, before paying off their loan. No one can predict what the future holds, but it’s a sure fact that these rates will definitely not last long.

More Money to Spare on Renovations

Whether you’re buying quaint villas in Anjuna or luxury apartments in Goa, the majority of homes today will surely need a little fixing up. In fact, unless you opt for a real estate home by luxury builders in Goa like Kasu Homes, you may need to remodel your second home in Goa into something that you really desire. Beginning this process much ahead of retirement will help a lot with regard to cash flow.

There are numerous reasons as to why purchasing a piece of luxury real estate in Goa is much more preferred than buying a second home in Goa. Planning for a retirement home refers to planning for a second or support home. Hunting for the perfect one much earlier gives you additional time to search for the best as well as shows you a lot of options at different regions to choose from in Goa.

Get the Home You Really Want

If your retirement is literally just right around the corner, it’s high time you settle for the perfect abode as it just might be gone too soon before you realise and you’re officially ready.  

As time flies, property value and demand shoot up, especially in highly desirable areas. The luxury real estate project in Goa that you were eyeing a couple of years ago may be sold out before you even know it. 

Even at a downturn, Goa is a high-demand area and its desirability is little affected by these trends. People from all over the country and the world come down here to live and retire. Even when the market has hit rock bottom, there are still a few elderlies that line up and never miss on a beat, regardless of the economic indicators.

Owning a retirement home in Goa long before you wish and plan to make it your full-time residence will really help you understand how life rolls in Goa. Once you shift, you will find hardly any reason to move out of the state. However, there could be certain factors that would probably convince you to change your neighborhood after a few years. For instance, shifting to the village side from the city side or vice versa.

Looking to retire soon? You can’t simply zero down on a place you have never been to before. There’s a lot you’ll need to understand and love about a place before you finally take the plunge. Take advantage of the market conditions and put down a downpayment on your home when the interest rates are low and property values have stabilized. Be it luxury real estate in Goa or a second home in the state, it is always best to purchase and settle your retirement home much in advance before you retire so as to avoid any unprecedented costs. Begin retirement planning today to avoid any unwanted events that could probably rise in the future. 

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