Old age is inevitable. Someday, we are all going to grow old. What we can all hope for is that to grow old in comfort, without any worries that can bother us again.
A way for this to be possible is through buying a second property as a retirement house. The traditional retirement services is not that common in the Philippines, since it is part of our tradition to let our grandparents live with us until their final days. Retirement services are often reserved for those who are neglected by their children, has no means in making a living, resulting for them to depend on the government.
But if you want to break away from tradition, then you ought to find a retirement house with your current spouse that can truly cater your needs. But how would you finance to buy a retirement home?
The first thing that you can do is to ask for help. Ask your children to help you gather enough money for the retirement. You can also ask for help from the government. Housing loans specifically for senior citizens are available in both SSS and Pag-ibig. Make use of the insurances that you have accumulated.
Reverse mortgages are also an option. Reverse mortgage is a type of mortgage wherein homeowners in the age of 62 and above can convert the equity of their home to cash. This is called reverse mortgage because the lender is the one that gives money to the homebuyer instead of the opposite. Once the homeowners passed away, the property will go to the lender and not to the relatives of the original homeowners.
If you already have the money , then it’s time to choose property. Listed down below are the tips when choosing a retirement home.
1. Choose a good location
Find a location where everything is accessible like bus stations and shopping malls. Choose a location that’s in vicinity to where your loved ones live so that you can easily visit them.
2. Opt for a village or a subdivision
Villages and subdivision are united communal developments that are known for looking after one another. You are in better care if you live in a gated community like this one.
3. Security
Of course, security is a prime need when choosing a retirement property. Check if the subdivision of your choice has 24/7 security that makes the whole neighborhood safe. Remember that it’s a lot harder for most senior citizens to protect themselves from criminals.
4. Nearby restaurants
Having a restaurant nearby can be a huge plus just in case you just want to chill and don’t want to be bothered with all the cooking. You can ask the nearby restaurant to deliver food to you. Just make sure that the food are not only delicious but also nutritious.
5. Social activities
Being old doesn’t mean that you just have to stay at home. Choose a neighborhood that promotes activities for the senior citizen. Join their fun runs or weekly Zumba classes and meet new friends! You shouldn’t bore yourself!
6. Medical and Care
Medical facilities are important to senior citizens. Choose a property that’s near to your doctor or to any medical care.
Live in comfort after your retirement by following the checklist above! Check out our portal for properties that may become your next home!
Image source: http://www.persquare.com.ph/for-sale/house-lot-calabarzon-region-4-a-cavite-general-trias/house-lot-for-sale-in-general-trias-cavite-city_91916 – The Powerland Realty