Is it possible to face a real estate investment during retirement?

Is it possible to face a real estate investment during retirement?

Moving to a more modern apartment, buying a house on the beach or in a rural area, financing the house of your children, these are some of the reasons for acquiring real property during retirement. But is age a problem to buy a home? This question is, perhaps, the main concern of this group, especially if they do not have enough savings and need to apply for a mortgage loan. The loan is possible, but there are a number of conditions that should be taken into account.

Short-term mortgages:

When granting credit, banks require that none of the owners exceed 70-75 years at the end of the payment (some even put the cap in 80 years). Therefore, the maximum term to grant would be 10 years, 15 if it is early retirement.

Maximum 50% financing:

If the savings are very scarce, enroll in Medicare supplement plan G 2019 unless a very high income is available, the granting of the mortgage becomes more complicated. As a general rule, the financing of a bank would be at 80% of the price of the property. In this case, experts recommend that it does not exceed 50%, so there is greater ease of payment.

First home in property?

Having first home ownership facilitates the granting of the mortgage. The most advisable thing is to sell it and increase the percentage of savings to contribute to the purchase. If you decide not to follow this route, you can also opt for the rent and, with the monthly rent, deal with the loan.

Stability of income, point in favor:

In principle, the pension is a guaranteed salary that is charged every month. The risk is lower and that is taken into account by the bank. Another factor that can help is to have a private Pension Plan that pushes your income and allows you to more comfortably face the monthly fee.

Early retirees, greater possibilities:

They are the ones with the most options for the bank to grant them a mortgage. They range in age from 55 to 65, tend to have a medium or medium-high socioeconomic profile and usually charge higher pension tranches.

Fewer interest rates and no life insurance:

This type of mortgages, being shorter and with higher rates, the interest payable will be much lower than in one to 30 years. Regarding the linked products, depending on the age, the buyer will save life insurance, since this only covers up to an age limit of 65 years. In addition, the amortization insurance will only cover the person up to 70 years.

Travel preparation for seniors

Travel preparation for seniors

For older people, there is a lot to consider before the holidays like 2019 Medicare Supplement Plans on the site www.bestmedicaresupplementplans2019.com/ as preparation. So here we are presenting travel preparation checks, so it will be easier for you to go on holiday next time. •   

  • Have an appointment with your family doctor in good time. He advises you on your first aid kit which varies individually. In the case should definitely bandages and disinfectants, a fever thermometer and sun and insect protection. Also useful are medications for nausea, pain and cold remedies. Also tablets for constipation or diarrhea you should have with you. For a more exotic destination, it is best to contact a travel specialist.

•    Have an appointment with your family doctor in good time. He advises you on your first aid kit which varies individually. In the case should definitely bandages and disinfectants, a fever thermometer and sun and insect protection. Also useful are medications for nausea, pain and cold remedies. Also tablets for constipation or diarrhea you should have with you. For a more exotic destination, it is best to contact a travel specialist.

•    Inform yourself about your destination before your holiday. What health hazards are there? Do you need special vaccinations? Check your vaccination record before traveling and have your vaccinations refreshed if necessary.

•    Is it permissible to take all medicines to the holiday destination? The respective national message helps further. Strong analgesics from the group of opiates may in principle not be imported into some countries. Basically, it is recommended to have a medical certificate with you. Pack the main medication in a small bag which is convenient for a day trip.

•    Especially with long-haul flights, the risk of getting a thrombosis increases. Therefore drink enough before and during the flight about 250 ml per hour. Stay away from the alcohol that dehydrates. Move your feet regularly to stimulate blood flow and stand up in between. With the increased risk of thrombosis protect travel stockings from the pharmacy or even better lower leg length compression stockings prescribed by the doctor.

•    Attention changeover: If you travel to a time-shifting country, you may need to take your medication at other times. It is best to clarify this with your doctor.

•    What about the resort with accessibility? Especially for wheelchair users or people with mobility problems ramps and lifts are crucial. Call the travel agent or airline and tell them what help you need. Often it is enough to fill in a form that you give to the ground staff before departure.

•    At the resort, the climate is often different. When you feel little thirst, do not forget to drink. Keep in mind that certain sun-driven medications have unpleasant side effects, e.g. Skin reactions. Check with your pharmacist if you are more sensitive to the light of certain medications. In any case, sunscreen must be in your luggage.