The opportunity to buy a home for retirement is a process that most people welcome. After devoting several decades to work, children, and caring for a home, the process of purchasing a beautiful home in a great location can be a wonderful reward for a life well lived. Sometimes, however, the wrong home is chosen or other mistakes are made during this purchase process that threatens to turn the retirement dream into a bad dream. If you are retiring soon and planning to purchase a retirement home, answering the following questions will help you make a choice you won't regret:
Will the location you plan on purchasing be comfortable and convenient for your retirement life?
One of best points about purchasing a retirement home is that you no longer have to choose a location based on work commitments. Instead, you are free to consider other important factors, including:
- proximity to your children, grandchildren, extended family, and friends
- an optimal climate for health and enjoyment
- proximity to health care, both now and as you age
- proximity to favorite activities or interests, such as golf, boating, or cultural pursuits
- economic factors, such as the cost of living that can help you get more out of your retirement savings
Time spent in careful consideration of this question will help to ensure that you are shopping for a home in the very best area for a healthy, happy retirement.
What type of home will be best for your retirement lifestyle?
Purchasing a retirement home should always be about the potential benefits the home will provide for you as a retiree. For many, this may mean choosing a townhome or condo instead of a single-family home. Retirees who plan to travel or those who are looking ahead to the future will appreciate the convenience and lower maintenance requirements of a condo or townhome.
In addition to type, retirees should also look carefully at the each home's design for potential issues, such as too many stairs, narrow hallways, or a poorly designed kitchen. Homes that feel uncomfortable at the beginning of retirement can become even worse later on if mobility issues arise.
For even more great tips on choosing the very best retirement home for both your current and future comfort, partner with a real estate professional who specializes in assisting retirees with their housing needs. These agents have extensive local knowledge that can help you learn more about the community and home you are considering so that you can make a decision you will never regret.