A new article from MarketWatch outlines some helpful advice for retirees looking to move to a new home. But don’t wait until retirement to have a plan.
While many retirees express a desire to “age in place,” that doesn’t necessarily mean staying put in their current home; indeed, what they’re really saying is they want to live out their lives not in a care facility, but in a home of their own that suits their needs.
Retirees might move closer to grandchildren, or to an apartment that requires less maintenance. They might even ‘upsize’: three in 10 retirees who moved in retirement relocated to a larger home, according to a recent survey.
When a health crisis forces an older person to move, there are other parties involved in the decision-making, from adult children to hospital discharge planners, insurance companies and more. If you want to move on your own terms, have a plan and don’t wait too long to act on it, experts say.
The mid-50s are a good age to begin thinking about long-term plans for retirement, including living arrangements, experts say. That leaves plenty of time to make a plan and implement it while you’re still likely to be enjoying good health.
