Are you worried about whether to move or to stay in your present home after you retire? Are you thinking about downsizing, moving to a retirement community, or moving to a less expensive location? You probably have many questions about housing, but wonder where to find the answers.
Bruce Wrisley, author of The Senior Homeowner’s House Dilemma, Stay or Move, provides excellent answers to a variety of concerns in his book. He says that the biggest problem people have is they don’t plan ahead. They make their decisions in a vacuum. He tells people he counsels on real estate to “make a list of benefits about staying, and another list about moving. Then compare them. This activity might open your eyes to things you never thought of, “ he added.
“Another big mistake senior homeowners make,” he said, “is waiting.” Making a well-informed decision is critical. Research your options and choose what you want to do early, and you’ll save yourself grief.
Jake and Sarah decided to retire to Hawaii. After all it’s beautiful, affordable, and they’ve met some nice people there. Today, seven years after they moved, they want to return to the town they lived in for the prior 20 years. They miss their closest friends. “We realized, that although we come here once a year to see everyone, that isn’t enough. As we get older, we want to be with our closest friends more often,” said Sarah. The problem now is finding an affordable home. “When we sold our home the market was down. Now the market is high. We’re not sure what to do,” she added,
If you want to move to another town or state, or even country, rent a home there for six months to a year and see if it is what you want. At the same time, don’t sell your house, but rent it out until you are sure you don’t want to move back. Many people just move without thought and end up in the same dilemma as Jake and Sarah.
On the other hand, Gina, a single woman in her 60’s, wanted to pump some new energy in her life. She thought it would be fun to move out West– new places to explore, new people to meet, and perhaps she might even meet her lifetime partner. Fortunately, her adviser had suggested renting first. She did purchase a condo in Denver, CO, and rented out her home back East. She was glad she did. When her dreams didn’t turn out the way she hoped, she was able to move back home. But, she still itched to find someplace else to explore. She finally moved to Reno, NV to be near family. Again, she rented out her primary home. Now that she is finally happy with her decision, she is going to make Reno her retirement home.