Here is an article that explains some of the things that you should consider before deciding to retire to Florida. I had to take out some suggestions since they simply did not apply to Canadians wanting to winter in Florida. They had to do with state exemptions and establishing Florida residency.
Of course right now the most important consideration for a Canadian is the low Canadian dollar versus the American dollar. As I write this our dollar is worth only 74.8 cents in the United States. That is quite big hit to take when you are travelling on a budget. However, some of the author’s points are still valid.
Here is the article:
Many people are nowadays preparing ahead for retirement and, of course, a lot of those folks are considering Florida as their destination – do you blame them? Naples & Bonita Springs are beautiful cities to live, retire and play. There is a growing group of future retirees who are planning their home or condo purchases in advance of their actual retirement for good reasons. If your retirement is 1 to 5 yrs away, you might want to consider the following:
Prices are going up.
The Law of Supply and Demand has a firm foothold in our market area and we’ve witnessed a steady trend of closed sale prices increasing as inventory continues to shrink.
Interest rates are at historic lows.
Although you might be thinking that you would own a property free and clear of debt in retirement, it might be advantageous use of your money to mortgage the purchase for tax purposes. Your personal bottom line may be healthier with a mortgage interest deduction. Also, it is typically easier to qualify for a home mortgage loan while you are still employed.
Your property can be rented on a short term seasonal basis until you are ready to live there full time.
Many of our clients have bought homes well in advance of occupying the property themselves. By making an intelligent property investment now, you can enjoy a positive cash flow until you are ready to make it your retirement home.
You have options in all price ranges in the Naples and Bonita Springs area.
Contact us to help you learn about all of the possibilities including new construction in planned developments. Our local market area offers all kinds of housing in a very wide price range. We guarantee that there is a home, villa or condo within your budget that has the lifestyle and amenities to satisfy your needs now and in your retirement.
This article first appeared at http://stepstothebeach.com/2015/09/naples-fl-real-estate-retirement-plan-naples-florida/