At some point you may want to evaluate housing alternatives for your retirement. Start by asking yourself how well your current home works for you. If you own your home, think about the size of the house and property and the amount of upkeep required. Many folks have paid off their mortgages by the time they retire, but others have not, so think about the expense of maintaining your home. Look ahead and consider how well this home will meet your future needs. If, for example, you’re finding it difficult to climb stairs in your two-story, it may be time for a move.
Now think about how you’re planning to spend your days. If you’re a northerner planning lots of golf and other outdoor activities, a move to a more moderate climate is worth considering. Just a few of the popular retirement spots are North and South Carolina, Alabama, Florida, New Mexico, Arizona and California.
But before heading off for a change of scenery, think about how far you would be from family and friends. Most retirement experts advise staying close to loved ones. Remember, your life is going to change with retirement, so keeping your relationships in place gives you a good support system to help you deal with the change.
If you do decide to move, do your research. Check the availability and eligibility requirements for various services you might need in a new state. Consider the cost of living, transportation, availability of good medical care and safety factors before putting down new roots. Make sure you know the area well, in different seasons, and consider renting awhile before buying a home. If you feel uncomfortable in your new surroundings, ask yourself why. Sometimes it’s just the newness, which will pass. But if you continue to feel unsure, start looking at other housing options.
Should you decide it’s time to move—across town or across country—you have plenty of housing options. In addition to apartments and houses, there’s a boom in housing options specifically geared to retirees.
Condominiums. Providing all the comforts of home without all of the upkeep, condos are apartment-style homes you purchase rather than rent. The common areas you share with your neighbors are maintained for a monthly fee. Condos are popular with retirees for their convenience and comfort.
Retirement communities. If you’d like to be surrounded by people your age, retirement community living may be for you. There may be several housing options to choose from, along with a host of services and activities—transportation, security, community dining and social events. Be aware, however, that some retirees find this lifestyle too rigid, while others miss being around people of all ages. Some communities have restrictions on guests and pets.
Assisted-living communities. If health considerations are a big factor in your retirement choices, investigate assisted-living communities. With this style of housing, you can have private living quarters and get assistance as you need it.
Life care centers. These communities offer a full range of services. Usually, you pay an entrance fee and are guaranteed housing for life. You also pay a monthly service fee that covers such services as housekeeping, meals and custodial care.
To find out more about popular retirement spots, assisted-living communities and life care centers, the internet or local library are good places to start. Look through some of the many guides published on retirement communities. After narrowing your list of possibilities, call for more information. Many communities now offer videotapes or online tours to give you a better idea of what they’re like. It’s important to visit several communities, ask lots of questions and get a feel for whether it’s a well-managed place where you would feel comfortable.
