A Complete Guide to Finding the Right Retirement Property for You
Whether you’re excited to pursue new hobbies or looking forward to settling down with your partner, retirement signals the next phase in your life. But deciding where to put down your roots isn’t an easy decision. From the benefits of a retirement village to tips on what to include on your checklist, look no further for a complete guide on finding the right retirement property for you.
What kind of retirement property are you looking for?
There’s the option to relocate, downsize or move into a retirement village.
Why you should consider a retirement village
Retirement villages are becoming an increasingly popular option due to their great sense of community and access to low-maintenance and affordable living. There are many residential property for sale available in the villages.
- Community spirit
Moving into a retirement village will give you the opportunity to meet like-minded people. This is definitely something to consider if you don’t live close to friends or family.
- Low-maintenance living
Most retirement villages have shared community spaces and property management services so you won’t need to spend time personally maintaining them – whether that’s clearing up after breakfast or mowing the lawn.
- An active lifestyle
Most retirement villages reflect the growing number of people wanting to maintain a healthy and active lifestyle with a wide range of activities on offer such as yoga classes, swimming and bowls.
Having fitness classes and clubs on your doorstep eliminates the need to rely on others or local transport to travel to your nearest leisure centre.
- Affordable accommodation
Moving to a retirement village could be a wise financial decision with access to medical care, cleaning, leisure activities and transport services.
- Consider downsizing
Once you have retired and the children have long moved out, you may want to consider downsizing.
Owning a smaller space will be far more manageable in years to come so make sure to think about small plots, single-level properties and apartments with a lift installed.
Downsizing is also a great way to cut down on costs, as you will significantly reduce utility bills and maintenance bills.
But remember that downsizing is not for everyone, as you may wish to have more room to pursue hobbies or to accommodate friends and family when they come to visit.
- Location, location, location
When searching for a retirement home, location should be at the top of your list so make sure to take into consideration transport services and local amenities.
Whether it’s attending a doctor’s appointment or visiting friends and family, you need to safeguard yourself for years to come when getting around may not be as easy anymore.
- Focus on low-maintenance housing
You may feel more than capable now but you need to make sure that your retirement property is easy to maintain for years to come.
Most modern properties and new builds will be far easier to maintain than period properties so focus on houses that have been built in the last decade or so.
Consider appropriate care provisions
If you do decide to move into a retirement village, it’s important to consider the level of care that’s on offer.
Some places will offer around-the-clock healthcare whilst others may provide a check-in from staff on a weekly basis so make sure to think about the personal health needs of you or your partner.
Things to consider when searching for a retirement property
Update your will
When making any big life decision, it’s important to revisit your will. Retiring is a huge financial move and you’re less likely to be focused on growing your income.
How you want to distribute your property upon death is likely to change when you move so it may be time to reassess your estate.
Make sure to visit the property
You should always make sure to visit the property before making a decision. If you’re considering a retirement village, taster days are a great way to get a feel for things.
You will have the opportunity to meet your future neighbours and staff members with the chance to ask any questions you may have in person.
Trial the area
If you have the financial freedom, it may be worth trialling out a new location on a part-time basis before making any decisions on where to retire.
Some people who are accustomed to city living may decide to rent a house in the country or by the coast on weekends to test the local area.
Speak to a solicitor
If you’re purchasing a unit in a retirement village, you may want to seek advice from a solicitor with experience in retirement village contracts to ensure that you make the correct decisions.
Choosing where to retire can prove daunting with a number of factors to consider. Harcourts is highly experienced in helping people to find the perfect place to settle down with our team of experts on hand to answer any of your questions and to guide you through the process from start to finish.
Harcourts Carlingford, We are real estate agents in Carlingford, we cover all aspects of real estate from residential sales, auctions, property management, commercial leasing, and houses for rent in Carlingford with a proven track record of success.
A Complete Guide to Finding the Right Retirement Property for You
Whether you’re excited to pursue new hobbies or looking forward to settling down with your partner, retirement signals the next phase in your life. But deciding where to put down your roots isn’t an easy decision. From the benefits of a retirement village to tips…
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