Deciding on what kind of home is the right fit for you while you ease (or jump!) into retirement is one of the most important steps when choosing what to/where to buy next. Location, transportation, and details such as stairs, no stairs; do we want the grand-kids sleeping in the room next to us or on the other side of the house (or tenting it in the backyard…)? When it comes time to re-locate, down-size or simply to just retire happy, here are a few key factors to consider when looking for a great place to create new memories in.
Financing: The prospect of selling the family home and being mortgage free is appealing. But before deciding to buy that retirement home, you may wish to consult your financial planner to find out what is best for you. They will be able to factor in everything about your personal situation and financial goals; perhaps a small mortgage that is manageable and frees up additional cash may be a smarter option.
Consider Your Space: One of the things to take in account when purchasing your retirement home is how your lifestyle will change when you have much more free time. It is a good idea to consider the spaces that you will require for your current needs. How we live in a home can be very different when you are working full-time and only spending evenings and weekends in your dwelling; consider every day, all day. Alternative spaces may be important in your new lifestyle.
Lifestyle: Are you physically active and plan to remain that way? If you’re moving to Nanaimo and living close to the ocean, great hiking trails or golf courses, you may wish to take up kayaking and other outdoor activities that require equipment. Consider these possibilities and the storage you may need.
Entertaining: If you already like to entertain friends and family, this is likely to increase with more free time on your hands. Do you expect to have out of town visitors like grandchildren? Perhaps a flex space/room like a den with a murphy bed is enough to accommodate those few times a year when you have company to put up?
Outdoor Living Space: Outdoor living on the West Coast is one of the advantages of living here. With moderate temperatures year round, we are able to enjoy evenings on the deck around an outdoor fireplace or having the option to BBQ year round. Consider the yard, do you love to garden but that large yard is becoming more of a chore than an enjoyment? Avid gardeners may be reluctant to give up their large green canvas, but if you find most of your time spent outdoors is on yard-work, then consider moving to a home with a smaller outdoor footprint or a patio gardening option.
Travel: Is one of your retirement goals to travel more? Think about how often you wish to travel and how spontaneous and flexible you want to be. If you want the ability to pack your bags and lock your doors on the spur of the moment, then perhaps a condo or patio home option would work best.
Having those important conversations with these scenarios in my mind will assist you and your Realtor® in finding the best home for your new and exciting lifestyle.
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