It can be a big adjustment when you retire and leave the workforce, but one of the biggest changes is often moving from your family home to a retirement community or smaller home. Here are some tips on how you should work through this process to ensure you move somewhere that’s right for you.
Hundreds of thousands of Americans move when they retire every year. For many, retirement is an opportunity to downsize and live somewhere for the purpose of enjoyment instead of work. In fact, research shows that retirees are more likely to move to a different state compared to any other demographic, with Florida a popular choice among many.
You’ll be aware that moving home is a big deal, and you probably would have already moved multiple times in your life. You’ll need to organize everything from shipping furniture to finding a new circle of friends. But it’s worth it if you have a good plan and are clear on what you are looking for in your new retired lifestyle.
So what kinds of things should you be thinking about when you move home after retirement? The aspects you’re looking for will probably be different from the things you have prioritized in a home before. Here are the questions you should be asking yourself.
What Is Driving Your Decision To Move?
The first question you have to ask yourself is why you want to move. There are many reasons why retirees choose to move. Some want to be closer to family, while others are looking for a warmer climate or a more affordable cost of living. It’s important to sit down and really think about what’s driving your desire to move before you make any final decisions.
What Else Is Important To You?
While you might have a primary reason for wanting to move after retirement, there are likely to be other things that are important to you. You might prioritize aspects such as good access to healthcare, low crime rates, access to particular leisure facilities and overall cost of living. Come up with a system to identify the things that are most important to you, and things you don’t mind living without.
What Are Your Housing Options?
Once you know where you want to move to and what’s important to you, it’s time to start looking at your housing options. If you’re moving to be closer to family, for example, do you have relatives who can put you up for a while? Are there any retirement communities in the area that fit your budget and meet your needs? And are the homes actually available on the market at the moment suitable for your needs and budget?
What’s The Cost Of Living In Your New Location?
One of the most important things to think about when you’re moving after retirement is the cost of living in your new location. If you’re used to a certain standard of living, you’ll want to make sure that you can maintain that in your new home. Make sure to research the cost of living in your new location, including things like groceries, healthcare and housing.
What’s The Weather Like In Your New Location?
If you’re moving to a new location because you want to enjoy warmer weather, then it’s important to make sure that the climate is actually what you’re expecting. Do some research on the weather in your new location, and find out what the average temperature is throughout the year. You might also want to look at things like rainfall and humidity levels. Some people would even decide to visit the location they’re interested in at a time of year when the weather is supposed to be ‘worst’. If you still like it then, you’ve probably found somewhere you’d really enjoy spending your time.
What’s The Local Community Like?
When you’re moving to a new community, it’s important to make sure that it’s somewhere you’ll feel comfortable. Do some research on the local community, and find out what kind of people live there. Are there many retirees? What’s the average age range? What are the predominant religions? What’s the social scene like? You can get a good idea of what a community is like by reading local news stories and forums online.
What’s The Local Infrastructure Like?
If you’re moving to a new location, you’ll want to make sure that the local infrastructure is good. This includes things like hospitals, schools, shopping and public transport. Do some research on the local infrastructure, and find out what’s available in the area. You might also want to speak to people who live there, and get their opinions on the local infrastructure.
What Are The Local Taxes Like?
When you’re moving to a new location, it’s important to find out what the local taxes are like. This includes things like income tax, property tax and sales tax. Do some research on the local taxes, and find out how they compare to the taxes in your current location. You might also want to speak to an accountant or tax lawyer, and get their opinion on the local taxes.
What’s The Local Economy Like?
Another important thing to think about when you’re moving after retirement is the local economy. This includes things like job opportunities, cost of living and overall economic stability. It might not seem like such an important thing if you’re already retired, but you don’t want to move somewhere that is declining economically for some reason, as this will affect your enjoyment of your new home.