Deciding where to move for retirement requires you to think carefully, “try before you buy” and set aside time for proper research. There’s still a question you must answer before making your move—do you plan on living here forever?
In today’s episode of Your Money Minute with Tracy Stewart, CPA, I’ll give you advice on how to get the most out of your investment into your forever home.
If you’ve found the location you’d like to live throughout the rest of your life then it is important to look to the future. Consider finding a home that will serve you fifteen years from now. Maybe that’s a home with fewer steps, doorways wide enough to accommodate a walker or a bathroom with a sit-down shower installed.
When you plan for your future needs, you can better access houses to get an idea of whether you will need to make any renovations sooner or later.
Timing is everything. Of course that applies to moving into your new home as well. You will need to think of those who might be moving with you. Do you have a spouse? Perhaps it would better serve them if you move earlier so the two of you can set down new roots together, get comfortable with the location and make new friends.
Financial independence is unbelievably liberating. Take the time now to do the research needed, so that you can have an enjoyable retirement.