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Yet, some experts warn against the pitfalls that can be associated with such a huge purchase in retirement.
He added that while its not impossible, it will likely require jumping through hoops.
Here are other reasons why you should notbuy a home in retirement.
Retirees Need Financial Flexibility
When transitioning to a fixed income, financial flexibility is key.
High interest rates mean higher monthly payments, which can strain a retirees fixed income, he added.
Saddling yourself with a 30-year mortgage at retirement is not advisable for most.
For indoor maintenance, youll also be responsible if an appliance wears out or has any issues.
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