Relocate to Southern Utah with a Reverse Mortgage
I moved to Southern Utah in 2006 and I never plan to leave. We’ve found Cedar City and St George to be incredibly beautiful, peaceful, and friendly communities with an endless list of things to do and places to see.
Even when I was new to Southern Utah both Cedar City and St George were popular places to relocate, especially for people coming from California and Southern Nevada. That trend is alive and well today and people continue to flow into Utah every year.
These people chose to relocate to Southern Utah especially because the quality of schools is higher, the cost of living is lower, the traffic is light and the people are typically very friendly and welcoming as compared to the megacities they came from. In St George and Cedar City, we have entertainment, art, theater, amazing restaurants, high-quality universities, and beautiful nature retreats that are only a few minutes out of town.
Why do people relocate to Southern Utah?
A common scenario we run into with people moving from Southern California is they can sell their small, old, beat-up home and still walk away with a lot of money. Which they can bring to Utah and buy a far better and newer home and be able to pay cash for it.
Why use a Reverse Mortgage?
Thousands of people are finding the power of a Reverse Mortgage when they relocate to Southern Utah. By using a Reverse Mortgage, they don’t buy a good home or even a great home, they buy the home of their dreams.? Let me give you a real example of a client I worked with this month.
We’ll call this couple the Smiths. The Smiths are done with Southern California. They are ready to retire and want to get away from the crime, traffic, and crowdedness they’ve dealt with for so long. They’ve found that St George has all the amenities they do want but none of the drawbacks they are running away from.
After selling their home in California and they have $250,000 to buy a home in St George. Their primary goal is they want to own the home with no monthly mortgage payments. In St George, $250,000 is a lot of money and can buy some very nice homes but this couple didn’t want a nice home they wanted THE home, the home they would live the rest of their lives.
After a few months of searching, they became frustrated that they hadn’t found the forever home they wanted. Their realtor finally convinced them that they should talk to me and at least get the facts about a Reverse Mortgage to see if it might be a good option.
When the Smiths entered my office, they were visibly closed to having a conversation with me. They were convinced that Reverse Mortgages are of the Devil and that I must be working for him. But after just 30 minutes of giving them the facts about a Reverse Mortgage and their options they left my office thrilled at the newfound opportunities and possibilities of what they could do.
Before the Smiths only had one option to buy a home in St George but now they had multiple options. These are the best options the Smiths have in buying their new home in Washington County.
- They could settle on a home for $250,000 and pay cash but have nothing left over
- With a Reverse Mortgage, they could put down just $100,000 to buy the same $250,000 home but keep $150,000 in their pocket.
- If they really want to live in luxury they could use the full $250,000 as a down payment and buy a $610,000 home with a Reverse Mortgage.
With each option, they accomplish their goal of owning their home with no monthly mortgage payments. You can see why the Smiths and particularly Mrs. Smith was walking on clouds after meeting with me. Now she can truly buy the home she wants with the perfect kitchen and extra rooms for her kids to visit. After learning the truth about a Reverse Mortgage, she knows what to expect and how to use it to accomplish her goals.
If you or someone you love wants to relocate to Southern Utah or any part of Utah or Colorado and could benefit from the increased purchasing power of a Reverse Mortgage, call me at (435) 359-9000.
President – Reverse Mortgage Specialist
Heritage Reverse Mortgage
Heritage NMLS #1497455 Trevor’s NMLS #: 267962
1060 South Main Street Bldg. B Suite 301B
St George Utah 84770