When To Begin Shopping for Your Retirement Home
The close you get to retirement, the more you will want to begin searching for your next house. However, if you start shopping or buying too soon, you could end up in a less than ideal situation. Here are seven key tips for determining when to shop:
1) Determine With Your Spouse Where You Want to Live
Many people view their retirement as an opportunity to travel the world, while others see it as a chance to withdraw from society and live in relative isolation. Unfortunately, you and your spouse may hold opposing ideas on this matter. Fortunately, many couples realize pretty quickly that what they really want is some measure of peace and quiet, some opportunity to travel, and a retirement dream house that accommodates both of these desires. Plus, most want to be able to either travel to see their family or host their children and grandchildren during the holidays.
Therefore, in determining where to live, you’ll want to be reasonably close to family, near and accommodating airports, and somewhere that has the balance of entertainment and seclusion that you desire.
2) Decide What Kind of House You Need
Will you be hosting your entire family during the holidays? Will you be away six months out of the year? The answers to these questions will help determine what kind of house you desire. You may benefit from a small garden house with maintenance included. You may want a house with multiple stories and plenty of plenty of guestrooms. You may want to make sure that your Master suite is on the ground floor, so you do not have to plan how to negotiate with stairs.
3) Prepare Your Immediate and Close-Extended Family
As you approach retirement, your friends and family may have certain expectations about where you live and what kind of house you will purchase. Before you get the ball rolling too far, make sure you prepare your loved ones or whatever changes they might face.
4) Get Your Finances in Order
It will do no good to start shopping for your tire at home if you find one that you desire but cannot afford because you were still paying down debt or working on a mortgage. Make sure your finances are in order and develop a plan for how to make a down payment on your dream retirement home, and then you can have the freedom to find the perfect house.
5) Consider Buying When the Market is Advantageous
Do not buy before you are ready, but if your finances are in order, and you have thought through the other factors, you may have a period of time where a purchase is possible. If that coincides with a housing market that is advantageous to buyers, you may begin Shopping a little earlier than you would otherwise. However, you do not want to buy before you’re ready. It would be better to wait than to feel pressured to buy just because of a fluctuation in the housing market.
6) Talk To a Home Builder About What is Possible
Your retirement dream house may not yet exist. At least, it may not yet be built. If there is a certain area of the country you are planning to buy, such as Myrtle Beach, you might consider talking to a home builder about what is possible. Realstar homes have a variety of floorplans and home sales that may suit your needs.
7) Start Searching and Shopping When You Are Ready
No one can decide when exactly you were ready to shop for your retirement dream house other than you. Begin shopping when you are ready, so you can fully enjoy the experience. It is fun to look for new homes, especially when you are entering a phase in your life where you can truly enjoy it.
If you are closing in on the season of life where you can begin shopping for the retirement home of your dreams, we want to help ensure you have the best experience possible. Realstar Homes has been building homes for families and retirees for decades. We have a wide variety of floor plans and options that accommodate your needs. This is a special season of your life and we can help you understand your options, so you can just enjoy all the things you have been putting off for all these years. Contact us today for more information about retirement dream homes in the Myrtle Beach area.