Retirees settling into their golden years may be considering the idea of a new home. Most often, a new home means taking on a new mortgage in retirement. Why buy a new home after retiring? Reasons include downsizing, moving to a more agreeable climate, or being closer to the grandkids.
Yet just like any other homebuyer, retirees face formidable issues like high mortgage rates, elevated home prices, and associated costs on insurance, maintenance, and possibly homeowner association fees.
