Moving to a new location during or for the span of retirement has become a more popular option as time goes on. We all have that ideal place that we’ve wanted to live for our entire lives, but how can we be sure that we actually want to move? Is moving for your retirement a good idea, or would you be able to enjoy your retirement better if you stay in the same place?
There are a lot of questions and concerns that are going to come up when you’re trying to decide whether or not you want to move to a new location during retirement. In this article, we’re going to try and help you to sort through that information in a way that will make it easier for you to decide whether or not moving is right for your retirement plans.
Should You Move Or Not?
The first big question is this – should you even consider moving in the first place? The answer is – it depends. In some cases, it’s best for a retiree to stay put because they’re closer to family and because they’re living somewhere mortgage free. Financial reasons are always a good thing to look at and, as you explore your options, you may find that it’s more affordable to age in place instead of going somewhere else.
The whole choice regarding whether or not you should move is completely up to you. There are, however, a lot of details around it and you want to be sure that, no matter what you choose, you’ll feel good about the choices that you’re making in relation to it. Talking with your family and friends about your possible decisions can go a long way and will allow you to determine whether or not you wish to move or stay where you currently reside.
How to Choose Where You Should Move
So, you’ve decided that it’s time for you to move to a new location. There are many different things that you need to try and look at in regards to moving and where you may want to go. Here are some things that you want to think about when you’re trying to decide exactly where you want to go.
- What are the taxes like in the state and municipality? Sometimes, taxes are the “make or break” of whether or not a location is good for someone like a retiree to move to.
- What is the cost of living in that state or municipality? Obviously, you are living on social security and your retirement funds, and you want to be able to so effectively. Cost of living is one of the first things that you will want to consider in regards to all of this.
- How far will I be from family members and friends that I have made over the years? Some people want to move away from their families during retirement – other people want to live closer to their family. Look at your preferences and decide, based on your location, which will be best for you.
- Am I going to move to my own house or am I going to go to a retirement community? Do you want to live in a retirement community that’s quiet and where you can make new friends and have everything you need? Or do you want to buy a home that’s not in a community like that?
- How much is my move going to cost me? Moving is not cheap and it’s usually more expensive the further you go. Consider looking at prices to see and understand how much your move may cost you.
What Else Do You Need to Consider During a Move?
Obviously, the location isn’t the only thing that you need to consider when it comes time to make the move. You want to take care of some other logistics as you’re working out exactly what it is that you’ll need to do for your move as well. Here are some other considerations that you want to try and keep in mind.
- How large of a home do you want to have? Do you want a small home that is easy to take care of or a larger home that you can invite people to events?
- What resources are available for you in your new hometown? Are you near a great hospital or health system? Maybe you want to be near a university that has all of the best in healthcare or arts? Be sure that you do a bit of looking so that you can find whatever resources you want to have in your community.
- What are you taking with you on the move? Are you going to do a large purge and try to live in an efficient and effective manner? Or maybe you want to take everything with you?
- Do you expect to stay there for the rest of your retirement? Are you going to be jumping from place to place throughout your retirement years, or are you going to want to stay in one spot? Could you imagine yourself staying in that specific place for the entire time that you are retired? If not, then it may be time for you to consider moving to another location instead.
Above all else, you want to move somewhere that you will enjoy. You don’t want to be somewhere that is going to stress you out financially or mentally, and you want to be able to have a good time during the golden years of your life.
By taking the time, in the beginning, to really sort out whether or not you want to move, and figuring out a good location to move to, you will find that you feel a lot more prepared and set on what you want to do during your move.
While finding a place to retire to can be a very big decision, you’ll be glad that you took the effort to make it happen before making that final decision.