Are you considering moving when you retire? Moving to a new area is a popular option for many retirees for a variety of reasons — including reducing expenses, moving closer to family, or seeking a more comfortable environment.
But before you put your house on the market and start shopping for new real estate, be sure the community will be right for you. How can you tell? Here are a few key things to check out before you buy.
1. Decent Population
While it may be tempting for city dwellers to retire in the proverbial one-horse town where life is simpler and quieter, you're less likely to find the necessary resources many retirees need. What provisions are there for doctors, hospitals, surgical facilities, exercise outlets, interest groups, financial advisors, or knowledgeable attorneys? Look for a community with a middle range of population — not too large and not too small.
2. Lower Cost
If you are on a fixed income or are worried about outliving your savings — as do most retirees — focus your search on regions that cost less to live in. Cost of living includes things like average home prices or monthly payments, state and local taxes, grocery stores, gas prices, and home goods needs. Remember, the more competition, the better the prices will be.
3. Your Interests
When a person retires, they generally find themselves with much more time on their hands. How will you fill that time in this new location? Many retirees suffer from unintended isolation, so look for a place that will provide interest and social activities for you. You might look for a place with plenty of outdoor activities, social groups that share your interests, or a thriving community in arts that you enjoy.
4. Safety
You need to feel safe in your new home, so investigate crime statistics in the city and in your planned neighborhoods. This information may be available from your real estate agent or you can often find it at the city or county facilities. Pay attention to whether the trend — especially in smaller, petty crimes — is rising or falling.
5. The Right Environment
A comfortable climate used to be the main driving force behind retiree moves. While it's not the biggest element anymore, don't overlook its impact. After all, even if you do get to spend time with your grandkids, you still have to live your daily life in whatever the climate brings. Make sure you will enjoy the majority of your time in this new region.
By giving due attention to the community you plan to move to, you'll help ensure the best possible outcome. Once you find the right area, finding the right home within it will just be a matter of time. Speak to your real estate agent about important community information you want to find out.
