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How To Prepare for Retirement Home Purchasing

How To Prepare for Retirement Home Purchasing

Are you finally nearing your retirement? If so, you have labored hard to earn the right to begin relaxing and pursuing your hobbies and passions. Whether you have worked for a large corporation, small business, or are walking through the trials of owning your own company; you have worked hard to give your best and leave a legacy. You’ve given a lot of energy and time to your career, and now you’re ready to rest.

Retirement is a time where you can focus on all of the things you have been putting off for the sake of work and your career. You can finally focus on your long-neglected hobbies or start something you have always thought you would enjoy. You can begin working on some creative projects that you have put off or spend your days on the water fishing. Retirement is about finally getting to do what you want and spending time with the people who matter most in your life.


That said, it is still important to prepare for retirement. There are still things that you and your partner will need to figure out before you enter this next chapter of your life. You have likely been preparing financially for many years. You have sacrificed and saved, investing your money so it would grow and serve you well. You’ve probably thought a lot about what kind of activities and hobbies that you will pursue. However, one of the most significant steps is determining where you live. At Realstar Homes, we have helped many families plan for high-quality retirement living. Here in this guide, we are providing advice on how to determine where you should live and what kind of house you should choose to live out your retirement dreams. 

Here Is How You Prepare for Your Retirement Dream House:

1) Determine Where You Want To Live During Retirement 

Where do you want to live during your retirement years? You may have a city or region in mind, or you may be thinking more about what you want as a backdrop for your retirement dream house. Here are some key considerations for discussing location with your spouse and family: 

Consider Compromise Together

Have you opined about how great it would be to live on a plot of land so deep in the woods that it’s barely on a map? Have you thought about how, if you could, you would wake up every morning with a fishing pole in your hand? Have you expressed your interest in taking dance classes with your partner on an island in the tropics? The only problem might seemingly be getting your spouse to agree. You do not have to duke it out to find a compromise. You might rethink your ideal retirement as you answer these questions:

  • Will I at some point want to live near my family, especially my children and grandchildren?
  • Do I need to make sure I live close enough to care for an aging parent or sibling?
  • Is there a middle ground between my vision and my spouse’s?

There is likely a location that will accommodate a compromise between you and your family. 

Consider the Future 

Where you might feel healthy and mobile enough to move to a remote location now, but how will you feel in a few years? Consider what the future might hold:

  • Will you eventually need to live near quality medical care?
  • Will you eventually need to live near aging family members?
  • Will your family grow such that you want your grandchildren nearby?
  • Will your hobbies and interests change?
  • Will you want to live near access to food, groceries, shopping, and entertainment?

Consider Your Hobbies 

Some locations may provide access to a variety of activities. Other areas may specialize in one of two hobbies. Myrtle Beach, for example, has a little bit of everything. From watersports and fishing to art and dancing, you can find plenty of access to activities and hobbies in northeastern South Carolina. At the same time, our area is known for having some of the best golf courses and clubs on the East Coast. 

While withdrawing from society in seclusion may seem appealing, many retirees find they actually enjoy a balance between living in a peaceful location and still having access to modern amenities.

location map

2) Dream About What You Want and Need in a Home

Determining your desired location, or at least getting an idea of where you want to live, will factor into what you need in a home. If you are choosing to live near family and grandchildren, you may need a house with a large second story and plenty of bedrooms. If you plan to live in a central location from which you can travel to destinations quickly, you want a garden house where maintenance is included. If you are moving to the south, you may be able to build a house of significant size even on the coast, but if you want to live up north on the West Coast, you will have to stretch a tight budget. Here is a guide for working through what you might want in your retirement dream house:

Friends and Family 

If you plan to entertain friends and family, you will need a place that can accommodate your guests. You also may want to be in a community with amenities and have a yard large enough for kids to play.


Whether you expect to welcome aging friends or parents to your home, or you want to plan on your own potential needs, you will need accessibility for your retirement dream house. Wide spaces in restrooms, shower and bathtub considerations, and a first-floor master can help prepare your home for when you need a little help getting around.


If you plan to spend a significant portion of your retirement globetrotting, you probably do not want a home that requires maintenance and yard work. A garden home may be the perfect solution for having a lovely house in a good location wherein maintenance, and yard work is likely included. 

Realstar Homes is happy to walk you through our various floor plans and home options, so you can determine what is best for you and your family. 

3) Decide Whether or Not To Buy Before You Retire 

There is debate among real estate and financial experts about whether or not it is a wise decision to purchase your retirement dream house before you formally retire. Some will advise that taking on a second mortgage if you have not fully paid off your current home is too risky. Others will suggest that you may not really know what you want until you do officially retire. Still others will say purchasing your retirement house while working is the perfect way to take the stress out of the first part of your retirement. Let’s break down some of the arguments.

In Favor of Buying Your Home Before You Retire

Some arguments in favor of purchasing before you retire include:

  • It may be easier to get a mortgage while you are still working. 
  • You may have more financial flexibility and time to make necessary renovations and handle unexpected expenses while you are still working. 
  • You can plan better for your retirement if you already know what your home expenses will be. 
  • You and your family will be able to take advantage of your house for vacation. It may even be possible to utilize it as a vacation rental.  

Against Buying Your Home Before You Retire

Some arguments against purchasing before you retire include:

  • If your finances are in order and you are following a solid plan, you may not have trouble getting a mortgage even after you retire. 
  • You do not want to add financial strain to the end of your career by purchasing a second home. 
  • Your needs and desires may change before you reach retirement. 
  • If you purchase a project that requires renovation, it could be incredibly stressful and sour your early retirement experience. 

Your Situation Is Unique

Only you and your loved ones will be able to help determine when it’s the right time to purchase your retirement dream house. To answer the question, you should work through your potential needs, how those might change over time, and where it is you want to spend your retirement years. If your financial situation is viable and you have a strong sense of the location and style of house for which you will be searching, you may indeed want to begin shopping prior to retirement. However, you do not want to feel pressured to start the process for fear of missing out, especially if buying the house will cause stress. 

Rather than searching for a renovation project, purchasing a new home from a trusted builder can help mitigate the potential stress of sinking your time and finances into an unknown. The timing may work out such that your brand-new home is ready the day you can move in.

4) Develop Your Plan for Retirement

Once you have an idea of where you want to live and what you need in your retirement dream house, you can begin to develop a plan based on whether you want to buy before you clock out for the last time. Let us help you develop a plan for finding the perfect home for retirement.

As you enter into retirement and begin planning your dream house, Realstar Homes is happy to help you along the way. We have been building high-quality homes in the Myrtle Beach area for many decades. We have the experience and expertise to help you find the house of which you have been dreaming. We have several communities offering a wide range of possibilities.  If living on the coast is part of your dream, here are some reasons to choose Myrtle Beach:

  • Beautiful white sand beaches with comfortable temperatures throughout the year
  • World-class golf clubs and courses throughout the area
  • Easy access to deep-sea fishing, surf fishing, and freshwater fishing
  • Great restaurants, entertainment, and fun available along the grand strand
  • A convenient location that is close to your friends and family from North and South Carolina to Virginia and Georgia
  • Excellent and affordable housing options, especially for a beach community

Are you ready to consider your Myrtle Beach home owning options? We are here to chat with you about all our area has to offer. Contact the team at Realstar Homes for more information about how your dream retirement house can be an option here in our area.