4 Tips For Buying Your Home After Retirement

4 Tips For Buying Your Home After Retirement

As they near retirement or the empty nest—and sometimes both of these things happen within a few years of another—many people think about a change in housing. There are a lot of reasons for considering this. Some may have drastic post-retirement plans that involve moving to another city, state or even another country. Others may simply want to move to a smaller and more easily-maintained place, and often they have more flexibility as they no longer have to think about proximity to work or their child’s school. Below are a few things to keep in mind as you search for a new place.

Future Proofing

One thing you may want to consider is a home that can be easily made accessible and that does not have serious obstacles to accessibility, such as a lot of stairs. Even if you are in excellent shape, as you get older, you might encounter mobility issues, and while they may only be temporary, they can make recovery from an illness, a procedure or an injury much easier. If they are permanent, having a home that you can make accessible can be the difference in remaining independent in your home and having to move again.


You don’t want to take on a huge debt just as you near retirement, especially if you are also sending one or more children off to college. As you’re looking at your budget, be sure that you don’t leave out the costs associated with moving as well. If you’re going to need extra cash even after selling your current home, you might want to consider also selling your life insurance policy through a life settlement. If you have a permanent policy and your dependents no longer rely on your income, you could review a guide that compares the top companies for a life settlement.

Consider Your Goals

Think carefully about your goals before you start looking for a new place in earnest. For example, do you want to be in a more populated area, or do you want to move to the country? Have you considered moving to a luxury retirement community flush with amenities? Is there a specific landscape you want to be in, such as desert or the ocean? What kind of climate is important to you? Do you want to be within walking distance of cafes and movie theaters? Do you want to be close to family? If you are planning to move to another city or town, think about how you’ll build a new community around you there.


Usually, people who are looking to move after retirement want to downsize. However, you should give some thought as to just how much space you need in your home. For example, do you want to be able to continue hosting Thanksgiving dinners annually? Do you want your grandchildren to be able to come and spend the night? On the other hand, maybe you’re looking for an excuse to sidestep all of that at last. If you want to be able to decline with a cheery, “sorry, no room in the new place,” make sure it’s going to be true.


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