Learn More About Retiring in Wilmington NC
Let’s start by defining “planned communities.” For the sake of this article, it refers to those neighborhoods that:
- Consist of previously undeveloped land that is being (or was) developed with a detailed plan for a large number of residential homes.
- Will (or does) consist of at least 200 homes.
- Offers a variety of amenities to home owners.
- New homes are currently being built in the community.
Do you know that if you register on a new home community website (think Compass Pointe, Bald Head Island, Saint James Plantation, Figure Eight Island, Brunswick Forest, etc.) before you select an agent who will watch out for your best interests, you may lose the ability to have an agent work for you?
Generally speaking, in North Carolina, it’s the agent who introduces you to a property who is legally entitled to the commission paid to the buyer’s agent, even if that agent isn’t working for you!
Determining whether or not you should finance a home when you can pay cash is a bit complicated. Ultimately, it depends on your personal situation and your attitude toward savings, security, opportunities and calculated risks.
Let’s consider the following…
Because many people think Reverse Mortgages are only used to get equity out of a house, most forget to consider a reverse mortgage as an option when they are purchasing a primary residence. Let’s start by saying reverse mortgages are not for everyone. That said, there are a number of people who would benefit from this option.
Let’s look at the potential pros and cons of a Reverse Mortgage: