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“Real estate is usually one of the biggest assets retirees have, but it’s the area with the most emotional attachment—and a place where it’s very easy to mess up,” said Larry Luxenberg, managing partner with Lexington Avenue Capital Management, a financial advisory firm in New City, N.Y. This article highlights some areas to consider when looking at your real estate positions at retirement.

I don’t agree with all of the article’s conclusions, mostly because these glib answers assume a one-size fits all mentality. The value of the article is pointing out 5 important areas to consider, not necessarily in the conclusions it suggests. For example, a mortgage in retirement MIGHT make sense for individuals who have investments with returns higher than the after-tax cost of the mortgage. Likewise, owning two homes MIGHT make sense depending on individuals’ values — maybe they really don’t want to take expensive travel vacations, but they could afford to do so; instead, they spend their money on the two homes.

The answers need to be tailored to your individual situation, but these are certainly five topics to think about: 5 real estate mistakes retirees make – MarketWatch.

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