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Got retiring clients? Help them avoid these mistakes

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An older male and female couple standing in front of two-story brick home

10/30/2014 | Author: Editorial Staff

Whether your retiree clients are looking for a small place in town or want to find a more relaxing locale, they need to make sure they’re protecting their assets in the process. Marketwatch explains five real estate mistakes retirees make, including these three:

Keeping the bigger house for too long. A large house requires a lot of upkeep, which means more expenses. Clients who have kids who just entered college or are about to may want to start thinking about downsizing now rather than waiting until graduation. Comb your client list and check in with those who may not realize scaling down now could help them save big.

Dreaming of a Big Bend retirement because of that trip 20 years ago. If your clients are interested in leaving town, make sure they research the practicality of a new location. For instance, ask if they will have access to the healthcare options they need most, or help them make sure there are places to take part in their favorite activities.

Owning two properties when they only need one. If the cost and maintenance associated with owning one too-large house is significant, owning two properties of any size can be a bigger financial burden. Even if your client intends to move into the second property in a certain time frame, the price tag in the meantime may not be worth it.

Read more about these mistakes, plus two more, in “5 real estate mistakes retirees make” from Marketwatch.

Categories: Business tips
Tags: retirees, seniors

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The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on Any legal or other information found here, on, or at other sites to which we link, should be verified before it is relied upon.

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