Advice for Retirees When Downsizing: Part 4 of 5
As you begin to discuss your downsizing options, you may throw around the idea of maintaining two smaller homes: one in your current locale and one in a place with a more temperate winter climate.
But experts recommend weighing the financial obligations of this idea very carefully before diving in.
“My own experience owning a house is that everything costs more than anticipated beforehand,” said Larry Luxenberg, managing partner with Lexington Avenue Capital Management, a financial advisory firm in New City, N.Y.
Plus, with gas prices always in flux, you need to keep in mind the cost of traveling back and forth between two homes on a semi-regular basis.
Image via flickr/Ed Bierman