If you like the idea of moving, once you retire, you may want to give the idea some deeper thought. There are some factors that you may not have considered, but that can affect how well you enjoy your years of retirement. For some, the real secret to retirement happiness may be to stay in your current home.
Buying a home for retirement
It is important to plan for your retirement and, for some, that means buying a second home in a tropical paradise. Before retiring, that second property can serve as a vacation home and, after retirement age, it can become a second home, where you will spend a good portion of your time. Just be sure to think that plan through. It will mean paying taxes on two homes, paying for insurance on two homes, and maintaining the upkeep on two homes. Be sure you are prepared for the additional expenses associated with this plan.
If you do decide to move, experts agree that it is best to make the move soon after retirement. This will help you get accustomed to the new financial burdens and social challenges of living in a new place. Staying socially active is important for elders, so maintaining two homes can be beneficial, if that is the option you are considering. Many retirees find it rewarding to maintain friendships and associations in multiple locations.
Think about the future
There are many things to consider as far as how life will go on after retirement. Moving into a new home may become more of a burden, if your spouse dies. Left alone, will you still enjoy the new home, or will you wish you had stayed in the old neighborhood. You may regret moving away from friends and family, if you are left alone. You may need help getting around town to appointments. Similarly, as you get older and experience health issues, being alone may mean having to hire professional in-home caregivers.
Ultimately, you may end up moving more than once. Perhaps you will rent a vacation home for a few years, or relocate with the intention of returning home later. Even if you do not plan on it, there is no telling what curve balls life may throw at you. The important thing is to weigh all of the factors that may influence your decision to relocate and consider how changes in your health or living situation may affect living in a new place.