At some point, you may want to evaluate housing alternatives for your retirement. If you own your home, think about the size of the house and property and the amount of money required for its upkeep. Look ahead and consider how well this home will meet your future needs. If at some point for example, you find it difficult to climb stairs in your two-story home, it may be time for a move.

Consider location — perhaps a move to a more moderate climate is worth thinking about. But before planning to head off to a new location, consider the distance from family and friends. Most retirement experts advise staying close to loved ones. Retirement brings changes, so keeping your relationships in place gives you a good support system.

If you decide a move is appropriate, you’ll want to check the availability and eligibility requirements for various services you might need, particularly if you’re thinking of retiring in a new state. Moving to a different state may have a big impact on your finances; some states have high taxes that can put a significant dent in a fixed income. Also, the cost of living, transportation, availability of good medical care, and safety factors need to be considered before you take the plunge and put down new roots. Make sure you know the area well, in different seasons, and consider renting for a while before buying a home.

You’ll have a number of housing options to consider. In addition to apartments and houses, there’s a boom in living choices, some specifically geared toward retirees.

• Condominiums. Providing all the comforts of home without all of the upkeep, condos are apartment-style homes you purchase rather than rent. A monthly fee ensures upkeep of the common areas you share with your neighbors.
• Retirement communities. If you’d like to be surrounded by people your age, consider retirement community living. There may be housing options to choose from, along with a host of services and activities — transportation, security, community dining, and social events. Some retirees find this lifestyle too rigid; 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, you might consider assisted-living communities. With this style of housing, you could 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.