Like many people, you may want to move to a new house for retirement. Perhaps you’re looking for a smaller space or thinking of living closer to loved ones. Whatever the case may be, there are various factors you’ll want to consider before making a final decision. Here are six things to look for in a retirement home.
1. Necessities
Before choosing a retirement home, you’ll want to see how close your necessities are. For example, if you sign up for Medicare, you’ll want to see if there are doctors in the area who are accepting new Medicare patients. This will help prepare you for retirement and your Medicare enrollment. Learn more about enrolling in Medicare in 2022 here, boomerbenefits.com/retiring-in-2022.
In addition to healthcare providers, you may think of places like grocery and convenience stores as well.
2. Location Amenities in the area / what Lifestyle do you want
You also want to pick a house that supports the lifestyle you desire for retirement. Are you someone who looks forward to hiking frequently? If so, you’ll probably want to choose a home in an area where this is available to you. Or maybe you’d rather spend your time closer to a city with more restaurants and happenings.
3. Safety Features
One of the most important factors to consider in a home is safety. As you age, you may not be able to move around as easily or may be more prone to injury. To help prevent accidents, you may choose a home with no stairs and no porch. Finding a home with grab bars in the bathrooms or walk-in showers is also a bonus, and good lighting throughout the house.
The bottom line is to find a home that considers age. If you can’t find a home with some of these features included, you should consider having them installed if you can.
4. Friends & Family
If you’d like to spend more time with friends and family in retirement, it’s good to keep them in mind. Many people move closer to their loved ones in retirement to see them more frequently.
Additionally, you can invite friends and family over to your house to spend the night or even come over for a quick dinner if you’d like. Choosing a home farther away from them can make seeing them more difficult.
5. Maintenance
Another factor you’ll want to keep in mind is the maintenance and upkeep of a house. For example, an older home may need more frequent repairs, so you should consider whether this is something you want to deal with as you age.
Owning a home also requires you to keep up with yard work. If you choose a house with a lot of yard space and vegetation, know you may need to take care of this yourself or hire someone else to do it for you. To avoid running into issues like these, you may consider choosing to live in a community with a homeowners association. If not, try to find a home with minimal yard space.
6. Cost
Your finances in retirement may look a little different than when you were working, especially with new factors to think about like Medicare costs, so you should consider your budget. It can be helpful to assess what your income level will be in retirement.
Additionally, you’ll want to research the average cost of living for your desired retirement locations. This can help you get an idea of your options regarding different expenses.
Final Thoughts
Choosing the right retirement home can be a daunting task with so many different components to consider. However, by thinking of your day-to-day lifestyle in retirement and planning ahead of time, you can ensure you make the right decision for yourself.
