Thinking About a Resort Retirement Home?

Written by Charlie McHenry


Continued from page 1

In another scenario, buyers can userepparttar proceeds from a 1031 exchange to fundrepparttar 112533 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 fulfillsrepparttar 112534 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 onrepparttar 112535 entire transaction. If you use equity from your existing home, orrepparttar 112536 proceeds from a refinance to fundrepparttar 112537 down payment, you get into your dream retirement home without any significant outlay of your personal capital. And if you rentrepparttar 112538 property until you are ready to retire and move, your renter’s money helps pay forrepparttar 112539 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 fromrepparttar 112540 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 ofrepparttar 112541 Tony Award-winning Ashland Shakespeare Festival, Southern Oregon University andrepparttar 112542 Mt. Ashland Ski Resort.

A mountain-side college-town, Ashland has been named one ofrepparttar 112543 Top 10 Small Art Towns by John Villani in his book The 100 Best Small Art Towns in America. It boasts some ofrepparttar 112544 best restaurants inrepparttar 112545 Northwest. The area is close to nine lakes and three major rivers includingrepparttar 112546 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.

In addition to location, buyers should consider their own unique financial circumstances. Purchasing a retirement home is a strategic decision with implications forrepparttar 112547 future. It is important to maximizerepparttar 112548 flexibility and minimizerepparttar 112549 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 allocaterepparttar 112550 costs.

Sometimesrepparttar 112551 adult children of a retiring couple will fundrepparttar 112552 purchase price or down payment for a Mt. Meadows condominium – and their parents pay a monthly "rent" that coversrepparttar 112553 mortgage payment and fees. In this scenario,repparttar 112554 kids sharerepparttar 112555 depreciation ofrepparttar 112556 unit for tax purposes – as well asrepparttar 112557 appreciation in real dollars for future profit.

In another version of this model, well-off parents gift their adult children and wives withrepparttar 112558 maximum $10,000 allowed – tax free – on an annual basis. The children then use these funds to makerepparttar 112559 down payment onrepparttar 112560 retirement property – which they own. In other cases, residents have "loaned" their adult childrenrepparttar 112561 funds necessary to purchase a Mt. Meadows unit, then leftrepparttar 112562 property to their kids in their wills. The value ofrepparttar 112563 property in these cases is calculated based onrepparttar 112564 day of death, and thusrepparttar 112565 heirs avoid any previous profits or appreciation.

However you decide to fund your resort retirement home,repparttar 112566 time to start looking for a premier property that offers you and your familyrepparttar 112567 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


Advantages of Using Credit Cards Instead of Cash

Written by Christine Breen


Continued from page 1
you must first contactrepparttar retailer and try to settlerepparttar 112532 dispute. If they ignore you, orrepparttar 112533 dispute is not settled then contactrepparttar 112534 credit card company. Usually you need to have your dispute in writing torepparttar 112535 credit card company. The address for billing disputes is different thenrepparttar 112536 address to send payments. The billing dispute address can be found onrepparttar 112537 back of your monthly statement. If it cannot be found, callrepparttar 112538 credit card company's customer service forrepparttar 112539 billing dispute address. You usually only have a certain number of days to disputerepparttar 112540 billing error so make sure you mail in your dispute beforerepparttar 112541 deadline.

If contactingrepparttar 112542 credit card company doesn't resolverepparttar 112543 dispute, you may contactrepparttar 112544 Office ofrepparttar 112545 Comptroller ofrepparttar 112546 Currency's Customer Assistance Group. Their website is www.occ.treas.gov/customer.htm and phone number is 800-613-6743.

Christine Breen is the owner of www.1Stop-Creditcards.com a site helping consumers find a better credit card.


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