When we begin to approach retirement age, we start thinking about where we will live once we have retired. Will you stay in your current home? Will you downsize? Will you consider living in an active adult or retirement community? This guide will help you focus on some of the most important considerations.
In what geographical area do you want to retire? Is it located close to family and friends? Or, are you considering a warmer climate? Have you always wanted to live on the water? Do you want to be conveniently located near doctors, downtown, or near shopping centers? These questions will help you narrow down the areas you will want to begin your search.
Aging in Place
This term is used to describe a specific type of design and home features that you will want to consider. Aging in place is a concept that helps people live in their homes as they age, for as long as possible. These homes typically feature modifications that reduce limitations and increase accessibility in a home. For example, large door openings and hallways, typically 44”, allow for easy movement of wheelchairs and walkers. The kitchen may be designed so that a person sitting in a wheelchair can access the sink or reach overhead cabinetry through design elements like pull-down cabinets. Grab bars are often installed in the bathrooms and levers are used instead of knobs. Whether you are purchasing a new home or renovating an old home, these features are key to enjoying your home throughout your golden years.
Part-Time or Full-Time?
Do you want to be a snow bird and travel to warmer climates in the Winter but enjoy cooler temperatures at a northern home in summer? If so, you will want to perform a cost-benefit analysis to help you determine how much home you can afford in each location.
As we grow older, our ability to perform certain maintenance tasks may become challenging. Cleaning out gutters, cutting the lawn, and raking leaves may need to be delegated to others. It’s important to consider the location and type of home you will have and how much maintenance your home will need. A 4000 square foot home tucked back in the woods may have been wonderful in your 30s and 40s, but may now be too much to handle. Downsizing before you retire can minimize the costs and associated maintenance.
There are many retirement living communities that provide the benefits of homeownership with other amenities that you may enjoy during your spare time. These communities provide a lifestyle rich in activities and events, with virtually no maintenance obligations. You’ll want to tour these communities, sample their menus, and meet their residents.
If you are thinking about your retirement living options, contact The Donnelly Group today! We have a 55+ specialist on staff that can schedule a tour of homes and communities in the Anne Arundel County area that may be suitable for your retirement needs. Or, visit our website for more information on the active adult communities in our area. Every team member of The Donnelly Group is devoted to being your guide, your expert, your resource, your advocate.