You’re eyeing retirement. It’s just around the corner, and you’re dreaming about how life will be once you’ve put your working days behind you and it’s time to enjoy the fruit of your long years of labor. Many retirees put buying a home on their short list of things to do when they hit retirement.
Maybe you have always wanted to relocate to a particular area, or you purchased your current home for your kids to attend a certain school district and you’re now free to live where you want.
You might have a desire to live by some water or near a favorite walking trail. Here are five considerations you should include in your decisions when buying a home for retirement:
Your lifestyle: You love to entertain and can’t wait to have an open-concept home, perfect for cocktail parties and game nights. Or perhaps you have a dozen grandkids and you need a home that is well-situated for frequent slumber parties. You may plan to garden to your heart’s content and will want a home with extensive space for flowers and vegetable beds.
Location: Buying a home isn’t always about the house itself. Maybe it’s close to the airport, where you’ll be catching flights for Europe, Asia and South America. Many retirees find it beneficial to relocate near medical centers so that care is always accessible and convenient. You might like to live closer to one of your children.
Levels: Look at each house through the eyes of yourself in 10 or 15 years. Is the home one level, or is the master bedroom on the first floor? Thinking about buying a ranch-style home might be a way to ensure you can stay in your home longer. You may also want to consider the bathrooms and how easily they can be used as stepping into a bathtub gets harder, for instance.
Cost: Consider spending less than you can afford when buying a home for retirement. This helps free up cash for travel and activities, and it’s hard to know what the future may hold.
Maintenance: Think about the amount of time and money you’ll dedicate to maintenance, as well as how easy your home will be to maintain as you age. If you plan to travel, it’s best not to buy a house with a lot of landscaping that takes time to prune and weed.
Buying a home always requires careful consideration of the next stages of your life, and Dani Beyer Real Estate is here to guide you through the process! We can help you spot a house that will be tricky to maintain as you age or one that has great potential for some serious fun with grandkids. Contact us today to get started looking for your new home.