Doing your homework before retiring can help prevent aggravation and stress and can save you money. When looking for a retirement community or home, you should be aware of several factors, including the local economy, mass transit, medical care and recreation.
Below are fie key factors to consider when in the market for a retirement home:
- Visit the community during both the busy season and off-season. Many towns have different “feels” to them depending on the time of year. Some people make the mistake of buying a hoem in a town that they have only visited on vacations or during the peak summer period.
- Find out where medical care is located. According to AARP, ore than 60% of Americans ages 50-64 have at least one of six chronic diseases. Close proximity to hospitals, doctors and medical facilities should be considered when retiring.
- Think about gas prices. If your new home is far from family and friends, and there is no public transportation, you may be spending a lot of money on gas and tolls. Twenty percent of people over 65 do not have a driver’s license. Many who do drive prefer not to drive at night or in inclement weather. Cost of living should be factored in as well.
- Determine how much living space you will need. Without a family at home, your space needs will diminish. Pay attention to stairs, basements, garages, and attics when looking for a home. The average size of a home for people over the age of 55 is 1,800 square feet.
- Look into social aspects of the area. If you like people, dining out and shows, you may not want to opt for a remote location. Think abut the activities you enjoy, both during the day and at night. Many active-adult communities offer entertainment, bus trips to tourist attractions, and on-site shows and programs.
Remember…. take the time now to learn about the communties you are interested in… it will save you the pain of a wrong decision later.
Posted in Real Estate Information
