How to Choose a House for Retirement
When you are choosing a house for retirement, several factors come into that decision. Below are some guidelines to keep in mind when choosing a house for retirement for you and your family to enjoy. Because this is possibly your final home purchase, ensure that it offers what you need now and for years down the road.
Retirement Lifestyle & Where to Live
Unlike the stereotype, just because you are is choosing a house for retirement, that doesn’t necessarily mean you need to downsize. Many retired people are even looking to upsize their new home in order to accommodate grandchildren and other family members who will be visiting for extended stays.
Consider other day-to-day factors—do you still need to have a home office? How often do you invite company over for dinner? Do you have any hobbies or interest that you’d like to cater your future house to—a big yard for gardening? Spare room for sewing? Workshop for carpentry?
Choosing a House for Retirement: Condo or Single-Family Home?
When you’re ready to choose a house for retirement, it’s a big decision choosing between a condo and a single-family home. With a single-family home, you can customize the floor layout and yard as far as space and budget allow. However, with a condo, there are typically community guidelines when it comes to the appearance of the condo’s exterior as well as limitations on indoor customizations. With a condo though, you typically don’t have to worry about chores such as lawn care, and it’s much simpler to leave a condo for an extended period of time and know that everything will be taken care of.
How Proximity to Family Affects Choosing Your Home After Retirement
When choosing a house, think about how important is it to be close to children, grandchildren, and other family members. While you no longer have to be concerned about living in a certain school district, if you hope to still catch little league baseball games, or be available for family dinners, you could research neighborhoods close to your loved ones.
Nearby Transportation in Your Retirement Years
Retirement certainly doesn’t mean loss of routine abilities, but when choosing a house for retirement, consider how many more years you’ll be comfortable driving, and how you’ll continue to get around if you decide to put away the keys. You may want a home that is close to public transportation to make it easier to get around if you choose to no longer drive yourself.
Choosing a Retirement Home in a New Climate
Last but not least—what type of climate do you want to be in every day? Whether you’re seeking dry heat, water, scenic hiking trails, or simply peace and quiet, the climate of your retirement house will affect how much you enjoy your newly earned free time.
Amongst all of these characteristics and priorities in choosing a a house for retirement, keep in mind that it will be challenging to find a place that fits all of your desires. Prioritize what’s most important to you—if you’re aching for summer temperatures year-round, but your family lives where snow falls, you’ll have to decide what’s most important to your needs. If you truly prioritize what you want in a house for retirement, you'll save yourself lots of hassle down the road.