As you approach your retirement age, you’d begin thinking of making major changes in your lifestyle. Given that your needs and priorities are now different from the ones you had when you were younger, and you no longer have dependent children, it’s about time to invest your time and finances to things you truly enjoy.
One thing that may be part of your retirement plans is to relocate. As you get older, it’s only natural to crave for a more serene and cleaner environment. You’d also look for a home that’s very calming, with a size that’s just right, so you wouldn’t have to walk too far and climb stairs to reach different rooms.
That said, if you’re about to start searching for the best retirement property or your “forever” home, here are the characteristics you should look for:
1. Senior-Friendly Features
If you see yourself having mobility issues in your 70’s, look for a home that has senior-friendly features, such as a main floor with a bedroom, a shower room with a seat, toilets with grab bars, and a space with only a few stairs or none at all. You might also need to avoid doorways with steps, because those could be a trip hazard.
2. Efficient Public Transportation
Even if you drive, living in a place with an efficient public transportation is still ideal, as there might come a time when you need to give up driving. Uber and Lyft should also be easily accessible in the area, in case trains, taxis, and buses won’t be the most convenient option.
3. Close Proximity to Healthcare Facilities
When you’re already experiencing multiple health issues, driving and commuting long distances may worsen your condition, so choose a community with a good healthcare facility nearby. Consider the type of care being offered by those facilities; there should be advanced care available, so transferring hospitals would not be necessary.
4. Socializing Opportunities
Being old and alone is a recipe for extreme loneliness that may further decline your health. Choose a place surrounded by friendly neighbors, so you can have other people to talk to besides your spouse or caregiver to ensure your well-being.
5. Opportunities to Practice Your Hobbies and Passion
When you’re no longer bound to a 9-5 job, you can now use most of your time doing what you love. Look for an area where there are nearby amenities that allow you to engage in your hobbies and passions. Living in such a place will boost your happiness, which can improve your health.
When Should You Buy a Retirement Property?
Some people might tell you to buy a retirement property while you’re still young, while others might convince you to wait until your actual retirement. Both have pros and cons, but if you’re buying on a whim, then you might only experience the cons.
Suppose you bought a property in your 40’s. A stately mansion in an affluent community where you plan to reside for the rest of your life. You absolutely love this property now, but will you still feel the same when you can no longer walk without assistance?
If you had just considered your changing needs back then, then you could’ve chosen the quaint real estate for sale in a more peaceful community. Therefore, ensure that you have the right reasons when investing in your retirement property. Don’t do it for fear of missing out or just because the property suits your current taste.
Bear in mind that just like trends, our tastes also tend to change over time. Don’t make it your sole basis when searching for the perfect forever home. Put more value in an environment that’s good for your health, and in a space that provides the utmost convenience.