Beginning retirement comes along with many decisions. One such decision is determining whether or not you should move homes. While there is a lot to consider, the overall benefits of moving outweigh the drawbacks. Moving creates new opportunities and helps adjust your life to be more comfortable and manageable during your retirement.
Reduce Cost of Living
As you take a new step in life, you can embrace the opportunity to save some money. When moving, you can choose to move to a new state with lower taxes. You can save money on property taxes as well as mortgage payments. Often when moving states, you can maintain the size of home you’re comfortable in while paying less. Moving areas can mean a reduced cost of living including fuel, food, or entertainment. You can maintain a comfortable lifestyle without dipping too deep into your wallet.
Your Home Needs Change
Once you retire, your circumstances change. For example, you no longer have kids in your house and won’t need as much extra space. Now is the time to downsize. You should also consider accessibility as you age. Stairs may no longer be a desirable option and they can actually become a hindrance. You should look out for homes that are one level and easy to get around. One option to consider is building your own home. Constructing a home in retirement can let you prioritize accessibility in the design. You can make sure your house meets any needs you may have.
Closer to Needs
When you retire, you also need to consider distances you’ll have to travel. As you age, your medical needs become a priority. Health complications may arise and it’s important that you’re close to medical facilities. This makes it easier to both be close in case of emergency and to ease the burden of regular travel to facilities. You should also consider living close to family. Travel may become difficult as you age. Living close removes this barrier which may come up later in life. Being close to family also means you can have more support and possible people to rely on if your condition requires that you need more assistance.
Moving to a new home, area, or state can be very daunting. Make sure you carefully consider your options before making a firm decision. Just know that there are many new opportunities for you to take advantage of should you decide to move at the start of your retirement.
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