I’m retiring early, selling my home in Ohio and moving someplace warm. I have decades ahead of me. Should I buy?

Yes, you have time to build more equity.

No, invest your profits and rent instead

We are getting married and both own fully paid-off houses in the same city. Which one should we call home?

You’re better off in the house that’s located in a more walkable neighborhood.

Choose the house that is better equipped for aging in place.

Pick the house that is in better condition and is less of a money pit.

We found a nice condominium that we can afford and now we need to review the board’s minutes and other condo documents before saying yes. What should we be looking for?

Make sure there are detailed, well-kept minutes of regularly held meetings.

Look for plans for big infrastructure projects, including how they will be funded.

Examine the size of the reserve funds, and whether they’re invested conservatively.

See whether the condo association fees have remained stable or risen sharply.

We have been offered a seller-financed mortgage for a house we’d like to buy. Should we take it?

Maybe. If your credit rating is poor—or the bank doesn’t like your retirement income level—you may do better with a loan from the seller.

Yes, if the loan terms are competitive and doing so helps you land the house you want.

No. Sellers sometimes offer this because banks won’t lend money to buy a particular house.

We want a vacation home that will be a gathering place for our children and their families. Where should we buy to motivate the family to visit for many years to come?

Don’t buy. Instead, use your money to provide a range of experiences for your family over the years.

Choose a location that’s convenient for everyone so nobody has to take a long road trip or pay for airfare.

Buy near an attraction that is natural (ocean) or man-made (theme park) so that your vacation home is a reliable draw for the family.

I’m in my 60s and buying what I hope to be my last home. A 30-year mortgage is so much more affordable, but a 15-year would let me build up equity faster and even pay off the home. Which is smarter?

Take a 30-year loan to shrink your mortgage payments and minimize your monthly expenses in retirement.

Take a 15-year mortgage so you can pay off your house relatively quickly and leave the property to your kids.

Forget the fixed-term mortgage. Go for an adjustable rate to reduce your monthly costs even more. Plan to refinance later.

Don’t take a loan. Liquidate investments, other real estate and even retirement accounts so you can pay in cash.

After overhearing my sister-in-law in New Jersey talk about the joys of her NORC, I have a simple question I was too embarrassed to ask her: What is a NORC?

It’s an acronym for “naturally occurring retirement community,” an apartment or condo building where a high number of people are 55-plus.

It’s short for “new old-residents club,” a welcome wagon for people ages 60 and older.

It’s how people in New Jersey pronounce the city opposite Manhattan that has a big airport.

If you sell the house you live in, any profit over what amount may be subject to capital gains (as of 2026)?

$250,000 or $500,000 for married couples filing jointly

$100,000 or $200,000 for married couples filing jointly

$150,000 or $300,000 for married couples filing jointly

$300,000 or $600,000 for married couples filing jointly

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Home Guide for Mature Owners

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Quiz: Best Options for Buying or Selling a House

Test your real estate knowledge before you pick your next home

AARP

Updated September 22, 2026

Quiz: Best Options for Buying or Selling a House

Test your real estate knowledge before you pick your next home

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