Purchasing a Home for Retirement

Purchasing a Home for Retirement

a home for retirement

As you approach retirement, you may find that the home you’ve lived in all these years just isn’t as suitable as it once was. It’s for this reason that many retirees decide to sell their old homes, using the funds to purchase new ones that will accommodate their new lifestyle. Thinking of doing the same?  In order to choose the right home, it’s important to keep a few key features in mind. We’ve compiled a list of the top things you should be looking for in your home for the golden years.

Size and Accessibility

If your children have moved out, your large family home may now be feeling a bit overwhelming. It’s common for retirees to find that the homes they raised their families in are far too large when they’re on their own. Maintaining a large house and property alone is both expensive and demanding. As you approach retirement age, you may not have the health or energy for all of that upkeep. And even if you do, why would you want to waste the time? Most retirees prefer to downsize so that they have the cash and energy to pursue new hobbies, travel, and spend time with family and friends.

If your health is indeed becoming a problem, changing to a smaller, single-story home may be just what the doctor ordered. People who have multi-story homes may find them to be difficult to navigate when they’re older. Features that formerly didn’t present a problem, such as low bathtubs or porches with stairs, can be very hard to use when disabilities develop. Often, retirees prefer homes with simple layouts, in which helpful additions like handrails in bathrooms and hallways to make moving around the home more comfortable.

Location

You want your retirement to be a time of peace, ease, and joy. For this reason, it’s important to choose a home that is in a great location. To avoid stress over finances, try to find a neighborhood with fairly low living costs. Also, you’ll want to keep an eye out for convenient features such as public transportation, meal and grocery delivery services, and the presence of shops and hospitals nearby. Don’t forget to take your own preferences into account. If you’ve always wanted to live by the sea for instance, the extra cost of a coastal property can be justified.

Energy Efficiency

If you’re living off retirement savings and social security income alone, hefty utility bills are even more of a headache than usual. By choosing a home that has energy efficient appliances, you can save a great deal of money, allowing you to spend on the things you enjoy. Furthermore, adding modern, energy efficient appliances counts heavily toward increasing the value of your home. With the growing popularity of “going green”, such appliances are soon to be considered standard features of any home, and are currently highly desirable perks.

Remember, this article’s tips only serve as basic guidelines. Every retiree has their own preferences and special needs. Your own are the things you’ll want to consider when making the final decision on your home purchase.

Recommended Reading:
How to Find A Real Estate Agent
Why to buy a second home in Stowe, Vermont
Penny Saver

Contact Pall Spera Company Realtors today to learn more about buying and selling real estate in Vermont.

Pall Spera Company Realtors
1800 Mountain Road
Stowe, VT 05672
800-253-2700
info@pallspera.com
www.pallspera.com