Now Might Be The Time To Buy Down In Big Bear
Whenever market values increase and the equity in your investment property starts to grow, buying up in Big Bear can be a great way to put yourself in a position to grow even more equity. However, not everyone has the desire to take on the additional responsibility that comes with owning a bigger investment property. Some people want to simplify without giving up the ability to visit their vacation cabin in Big Bear. Consider some advantages of buying down.
1. Live the dream for less
Selling your vacation home or rental investment property doesn’t mean you have to give up homeownership in Big Bear. A seller can take his equity from the larger property, buy a smaller cabin, reduce his mortgage payment (or even eliminate it!), and still have access to that little slice of heaven.
2. Empty nesters enjoy a smaller Big Bear nest
The kids might be college bound and the cost of tuition is all too real…that doesn’t mean you have to give up on your cool mountain breezes! When better to change your family cabin into a couples retreat at high altitude? Big Bear can take on a whole new meaning for couples who find themselves back to “just the two of us.” Buying down into a cozy 1-2 bedroom cabin can be the start of something great for empty nesters, and the extra dough will sure come in handy to put toward other expenses.
Maybe there is an investment opportunity calling your name in another market but you just can’t dream of parting with Big Bear. Buy a smaller cabin in Big Bear and put your gains from the larger one into another investment niche that will further diversify your portfolio. Being a prudent investment opportunist doesn’t mean you must give up your mountain getaway.
4. Plan for retirement
Making that mortgage payment on your beloved second home doesn’t factor into your retirement plans? Downsize your cabin to fit your fixed income in retirement. Just a little planning and willingness to embrace a new smaller vision can keep you coming back to Big Bear long after they throw you your retirement party.
Less can be so much more! Buying down can be the answer for the mountain lifestyle enthusiast who is determined to simplify his financial life. Investing in a tiny cabin in Big Bear has many benefits, so before you sell and walk away from Big Bear completely, consider buying down…it might just be the perfect fit.