Buying a Home for Retirement

Posted by Janis Penick on Monday, June 8th, 2020 at 11:39am.

RetirementYou have been counting down the days, months and years to retirement since you finished high school or college and it’s finally almost here. As you approach your golden years, you may have big plans to travel more and spend time doing all the things you never had time for when you were working and taking care of your family. While that all sounds perfect, have you given any thought to where you will live during retirement? You may intend to stay in the same location you have always lived in but is your current home best suited for you as you age?. Does it have stairs, a large yard that requires lots of work or more space than you need with the kids gone? For many people, part of retirement living includes downsizing to a new home so they have less to care for and a place they can age comfortably.  If you plan to buy a new home for your later years, here are some things to consider.

The Kind of Home

Maybe you have always lived in a single-family home but condos are a great option for homeowners as well. Condos frequently mean you don’t have a yard or exterior to care for saving you time and money. Condos are also often located in a community with amenities you may enjoy or near others your age that you may enjoy doing activities with. If you plan to travel frequently, a condo may make that easier since you won’t have to worry about caring for your yard.

Your Lifestyle

Do you plan to stay busy during your retirement or spend more time relaxing? Since you will have more time than ever to enjoy yourself, think about the things you want to do with your time. You may have chosen to live close to work or schools when you were younger. Now, you may want to live close to the golf course or near other activities you enjoy. Is there lots of travel in your future? A location close to the airport may be a plus.  

Senior Needs

When selecting a home for your retirement years, you will want one that will meet your changing needs too. You may want a one-level home without stairs, wider doorways, bath rails and other features geared towards seniors. This may be the last home you buy so consider a home that will allow you to age and still keep your independence for as long as you can.

Choosing the home you’ll live in for much of your retirement is a big decision, and one that should take some thought and time. We work with homeowners at all stages of life so contact us to discuss your future needs and the options available in the Bastrop area.

The Janis Penick Team

RE/MAX Bastrop Area
Serving Bastrop, Cedar Creek and Smithville

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