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                                           Thinking About a Resort Retirement Home?
                                                               By Charlie McHenry



    Thinking About a Resort Retirement Home? by Charlie McHenry


Better Think About Buying Now!

Buying Now Ensures A Choice Location and Rental Income Helps Pay for the Home

As the Baby Boom generation ages, more and more of us are thinking of retirement homes. Dreaming
of communities in the country, close to golf, theatre, art galleries and forested hillsides. Or maybe your
dream is of Florida sands, palm trees and year-round heat. In either case, you’d be well advised to act
on your dream sooner rather than later.

It’s a simple matter of economics and supply and demand. Real Estate prices are trending upwards.
Property values appreciate annually. There are only so many award-winning, really choice resort
retirement locations. And the baby boomers are getting ready to snap them all up.

Take Mt. Meadows in Ashland, Oregon. This resort retirement community on 31 acres has run out of
property with only 26 units left to sell and 14 more on the resale market. Named the "Best Small Active
Adult Retirement Community in America" by the National Council for Senior Housing and one of the
100 "Best Master-Planned Communities" by Where to Retire Magazine, Mt. Meadows is a good
example of the kind of premier community most retirees are looking for.

In addition to its familiar and comfortable design – just like an old-fashioned neighborhood – Mt.
Meadows is special because it offers investors private ownership of its condominium residences. This
preserves a buyer’s capital; includes the ability to sell at any time or to enhance income through a
reverse mortgage; and, enables purchasers to leave the property to their heirs. The owners also
control management of the development. There is no "corporate headquarters" dictating increased
fees or changes in popular policies.

Not all retirement properties are structured in this manner. In many cases, investors are buying a
"building". In these single-building retirement developments, residents are housed in an apartment with
a very small kitchenette. The building has a lobby and a dining room; and, occasionally meeting rooms
or a library.

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Residents often do not "own" their apartment units, and there can be "buy-in" fees in addition to
monthly charges in these buildings. A vast majority of retirement facilities and developments in the
country are corporate owned. Changing economic conditions or a change in management can
influence staff, policies and fees for facility residents.

It is incumbent on investors to review the many kinds of retirement developments, their management
structures and financial models, before deciding where to buy. It is wise to include the family
accountant, financial advisor and/or attorney in these considerations. But there’s one more thing to
think about…

We’ve all heard real estate’s golden rule: It’s all about location, location, location. And that’s why it’s
important to start looking for your retirement home now and to be ready to purchase once you find your
match. Premier locations are being developed, and soon won’t be available to buyers. That’s reason
enough for most 50 year-olds to start looking tomorrow.

Getting into your dream retirement home with very little down and utilizing rental income to help finance
the purchase is an even more compelling reason to consider investing in a retirement home today.
There are several scenarios that come to mind. You may have recently become empty nesters and are
considering downsizing your long-term family home – in which you have considerable equity. This is
one of the very few times in life that the IRS allows you to take your profits, up to $500,000, tax free.
You can buy a smaller, more inexpensive home with some of the profits, and use a portion of the
remainder as a down payment on your dream retirement home. Depending on the down payment,
monthly rental fees may just cover mortgage payments, helping pay for the home until you are ready to
move in.

In another scenario, buyers can use the proceeds from a 1031 exchange to fund the purchase price or
down payment on a retirement home. To qualify for this tax exemption, you must rent your retirement
home out for a couple of years. That fulfills the IRS requirement that you move money from one
investment property to another property intended as an investment. At that point, or any thereafter, you
can sell your primary dwelling and "convert" your investment property from a rental into your new
primary dwelling – thus avoiding any tax on the entire transaction. If you use equity from your existing
home, or the proceeds from a refinance to fund the down payment, you get into your dream retirement
home without any significant outlay of your personal capital. And if you rent the property until you are
ready to retire and move, your renter’s money helps pay for the home.

What should investor’s look for in a retirement home that they intend to rent before occupying? Again,
location is a priority consideration. Most retirement homes are located within an hour’s flight from the
buyer’s previous, principal residence. Most are located in areas that have a mild climate; outstanding
recreation, cultural resources and health care facilities; and, are easy to get to – like many parts of
Southern and Central Florida, known for their retirement communities, and like Ashland, Oregon –
where Mt. Meadows is located. Ashland is home of the Tony Award-winning Ashland Shakespeare
Festival, Southern Oregon University and the Mt. Ashland Ski Resort.

A mountain-side college-town, Ashland has been named one of the Top 10 Small Art Towns by John
Villani in his book The 100 Best Small Art Towns in America. It boasts some of the best restaurants in
the Northwest. The area is close to nine lakes and three major rivers including the wild and scenic
Rogue and Klamath Rivers. And, there’s a major airport served by three airlines just minutes away in
Medford. Wal-Mart and a host of other shops, from outlet stores to boutiques and galleries, are just five
minutes away.

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In addition to location, buyers should consider their own unique financial circumstances. Purchasing a
retirement home is a strategic decision with implications for the future. It is important to maximize the
flexibility and minimize the financial burden of such a purchase. Resort retirement developments that
allow residents to purchase their properties provide superior flexibility and a number of creative ways to
allocate the costs.

Sometimes the adult children of a retiring couple will fund the purchase price or down payment for a
Mt. Meadows condominium – and their parents pay a monthly "rent" that covers the mortgage payment
and fees. In this scenario, the kids share the depreciation of the unit for tax purposes – as well as the
appreciation in real dollars for future profit.

In another version of this model, well-off parents gift their adult children and wives with the maximum
$10,000 allowed – tax free – on an annual basis. The children then use these funds to make the down
payment on the retirement property – which they own. In other cases, residents have "loaned" their
adult children the funds necessary to purchase a Mt. Meadows unit, then left the property to their kids
in their wills. The value of the property in these cases is calculated based on the day of death, and thus
the heirs avoid any previous profits or appreciation.

However you decide to fund your resort retirement home, the time to start looking for a premier
property that offers you and your family the maximum in flexibility and investment potential is right now.
In fact, savvy buyers can get into a retirement home in a number of creative ways and even leverage
rental income to help make monthly mortgage payments until they are ready to move in.




Freelance Writer in Southern Oregon




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                                       Vacation Homes: The Preludes To Retirement?
                                                               By David Faulkner



 Baby Boomers and vacation homes have discovered each other. The home-away-from home is now
a reality for about three-fifths of those Americans born between 1946 and 1964, and while two-thirds of
them actually take vacations in their vacation homes, the others use their vacation homes as income
properties.

Vacation Homes As Retirement Homes

That means, for the rest of us, that there are millions of vacation homes waiting for occupants each
year. Vacation homes have become big business. The bull market of the past eight years has many
Boomers with disposable income, which they shirted to the real estate market before e it began its
descent. Boomers have been thinking ahead to retirement for the past ten years, and vacation home
purchased cheaply and paid off can often turn into ideal retirement homes.

The same factors that make a part of the country attractive as a vacation spot--climate and natural
beauty--also make it attractive as a place to spend retirement, so by purchasing vacation homes along
the coasts and in the Sun Belt, many Boomers are now set to spend their leisure years in the sun. But
until they are officially retired, their vacation homes have been sheltering them on the average about
forty nights a year, and sheltering paying guests as often as possible.

Vacation homes are no longer the impractical purchases they once were; with the advent of the
Internet and cell phones, vacation homes allow their owners, in many cases, to bring the job along
while enjoying a change of scene.

And as more Boomers have purchased more vacation homes in the areas with the best retirement
potential, they have effectively cornered the market on vacation properties n those areas, so anyone
wanting in after them will be paying much more than they did.

The most popular locations for vacation homes? Not surprisingly, resort areas like near the water or
mountains, or where the warm days significantly outnumber the cold--and which have reasonable
access to shopping, sporting and cultural venues, and outdoor recreation. All the things which will
guarantee a comfortable retirement. For more info see
http://www.vacationhomeshelp.com/Hawaii_Vacation_Homes on Hawaii Vacation Homes.

Do A Trial Run

Those who are thinking of investing in vacation homes with the idea living in them after retirement will
do themselves a favor by first renting a vacation home in the area of their choice for a month or two
during the worst part of the of year, and spending as much time as possible in the surroundings.

What look like vacation homes in a Sun Belt Paradise during the cool clear days of autumn and winter
can be houses which you leave only after the sun goes down, and then not for very long, when
summer is at its peak. Sometimes vacation homes should remain vacation homes.

You can also find more info on http://www.vacationhomeshelp.com/Beach_Front_Vacation_Homes on


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Beach Front Vacation Homes and http://www.vacationhomeshelp.com/Florida_Vacation_Homes on
Florida Vacation Homes. http://Vacationhomeshelp.com is a comprehensive resource to know about
Vacation Homes.




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