march-sports-insight-banner-lp-support

Shifting Locations after Retirement – What You Need to Know

One should retire happy. After all, you have worked for years to get to this point. Upon retiring, deciding whether to move to a new location or not is always a difficult oneas each option has its own set of pros and cons. Shifting somewhere new is a bold step in your retirement because establishing new roots isn’t easy. However, it may just be the best decision you ever make. To help you make up your mind, let’s go through some points that one can consider while moving in retirement.

Money

Shifting to a new house that is less expensive will help you to meet other expenses more easily. It will offer you an opportunity to add on to your savings while in retirement. However, choosing the right location is essential. Some suburbs are going to be more affordable than others, not just in terms of rent or property price, but even things like groceries. You’ll also need to consider the location in terms of its convenience in terms of transportation and if you are close by to all the things you need; if you choose somewhere out of the way, any money you save will then be spent on travel.

Sometimes, downsizing your house is also a good idea. Once the children move out, retirees are in a position to consider a nice apartment instead of a large family home. For those owning their home, this can then be put up for rent as a source of income while the retirees move to a place that is more manageable.

During retirement reducing maintenance costs and other expenses is also important. A small home helps to reduce maintenance costs and general expenses as well. Differentiate between the costs of where you are living and where you are opting to shift.

Moving close to family

One can enrich their years of retirement by living near their children or grandchildren. However, that doesn’t necessarily mean moving to a granny apartment. Try and find a nearby suburb where you can still maintain your independence whilst still remaining close by to loved ones. Moving close to family members or friends can be a great idea as you already have a support system to make the transition an easy process. You can also ask about the area and get some advice on where the best spots are and if it has everything you will require.

For those who are looking for independence but still want the comfort of having family close by, transportable homes or portable granny flats could be a great idea. This allows you to live on the same land as a friend or relative while still having your own space and comforts. Granny pods can be completely customised to your needs, including added safety features where required.

Just as we plan our lives when we are young, we should give this same level of excitement while planning our retirement. Be bold and make decisions that could set you on a journey to new opportunities or possibilities, whether it is simply taking up old or newly found hobbies or taking that big step to move to a new location. If you can’t decide if moving is the right decision for you, opt for a temporary solution such as staying with a loved one or friend to explore the new area to see if it’s the right fit for you.