When buying a new home before or after you hit your retirement age, it’s most probably will be your forever home. That said, making the best choice is important; you don’t want to end up regretting your purchase while you’re no longer in a position to move.
Mortgages and other financial things aside, here are the most important factors you need to consider when buying a house as an older adult:
1. Location
A lot of older adults in Australia and other countries tend to move into suburbs or rural areas to escape from the hectic life in the city, which is not something that’s beneficial for seniors. Fortunately, there is an abundance of house and land for sale in suburban areas such as Donnybrook, Victoria, that offer the quiet life of a suburb and the comforts of city life at the same time.
2. Amenities
Are there supermarkets, gas stations, pharmacies, hospitals, and other essential amenities near the area you plan to move into? Even if you still have most of your strength today, think about how easy it will be for you as a senior citizen if most of the necessary establishments are near your future home.
3. Neighborhood
There are communities that are specially reserved for retired folks, wherein the neighborhood is composed of older adults such as yourself. This option is highly recommended for retirees so they can maintain a healthy level of socialization with their neighbors, as well as enjoy a quiet and peaceful area day in and day out. But if moving into a senior community is not an option, find a house in a neighborhood that’s known to be quiet and generally untroubled by crime, traffic, and pollution.
4. Single-level house
Buy a house with only one level if you plan to spend the rest of your life in it. If you have stairs or even short steps up a patio or the front door, it can be a huge tripping risk for your future self. Moreover, if you have to stay in a wheelchair at some point, having a lot of stairs in your house is going to be a challenge and a hazard.
5. Wide spaces
Opt for a house that has an open floor plan and a lot of room for walkers or wheelchairs.
6. Home-sharing
Do you see a relative or a friend staying you in the foreseeable future? Or perhaps one of your children or a live-in nurse to care for you? If so, choose a house that has an extra room or space for a guest suite. Even if no one decides to live with you permanently with the future, the extra room will be useful for relatives or friends who will visit you.
7. Customizability
When you reach a certain age, you have to have your home modified to fit your needs (e.g. walk-in shower, raised dishwasher, handrails near the toilet). Hence, always keep customizability in mind when choosing a new home for your retirement.
Going into retirement is the last chapter in life where you get to enjoy the fruits of your labor, relax, and watch your family grow. To ensure safety and comfort in this final chapter, keep these factors in mind when choosing a new home.
