Should I Go, or Should I Stay?

Should I Go, or Should I Stay?

People who are looking at retirement often ask themselves “should I go or should I stay?” Many future retirees look around their homes of the last 20, 30 years or more and look at all they have accumulated; the big yards with the swings for the kids and grandkids, maybe a pool or tennis court too. While it was all fun at one time, entertaining family and friends – it may be time to enjoy life a little more and have more “me” time for travel, hobbies, reading, or start a new career as an entrepreneur.

The answer to the question of “should I go or should I stay” may be downsizing or rightsizing.  Moving to a smaller home in that perfect community condo for 55+ with activities and everything provided for you, even housekeeping. While most of the future retirees are not ready for that type of living, those who are will find freedom of yardwork, home maintenance, and more time for family and themselves.

As you consider should I go, or should I stay, finances will be something to be aware of.

For example, if you still owe on the mortgage and would like to retire soon, focus on paying off the mortgage which will free up more income. Wait to take social security at full retirement age, save more, work a little longer to get where you want to be.

Make a list of why you want to move outlining the pros and cons. For example, moving to be near family that would be a pro. Consider whether it would be more expensive to move to another state or city or 55+ community. Will you sell one of your cars? Will you need two cars and a truck? This will cut down on insurance and gas expense for sure.

Make a list of all your expenses you have with your home:

  • Mortgage
  • Taxes/insurance
  • Utilities
  • Food
  • Yard care
  • Home Maintenance
  • Misc.

If you decide that you want to stay in your current home, consider what will be involved to age in place to keep your independence. Life-safety changes such as hand-rails in showers, door handles instead of knobs, wider hallways, and getting rid of the rugs to avoid tripping will be critical. Also consider the safety of your current neighborhood. Is the neighborhood looking good and bringing good values if you sell or has it started to look worn and uncared for? Making improvements to stay in your home will be costly, so make sure you look at all your options.

As the public and the government realize that the population 65 and older is expected to grow from 48 million to 79 million – housing is being built by developers for 55 and older. Some are independent, some communities have independent, assisted, and memory care. Full time nutritionists, nursing staff, fitness coordinators, restaurants, bowling alleys, bars, and many activities. These communities may not be affordable to the majority, hard working individuals that have worked for 40 years at their jobs.  As the demand for housing increases, so will the prices of 55+ communities.

At 55+ Real Estate Services, we understand the challenges of moving after 20, 30, or more years in a home. We are committed to assisting you and your love ones with compassion, solutions, and experienced professionals guiding you all the way.

People who are looking at retirement often ask themselves “should I go or should I stay?” Many future retirees look around their homes of the last 20, 30 years or more and look at all they have accumulated; the big yards with the swings for the kids and grandkids, maybe a pool or tennis court too. While it was all fun at one time, entertaining family and friends – it may be time to enjoy life a little more and have more “me” time for travel, hobbies, reading, or start a new career as an entrepreneur.

The answer to the question of “should I go or should I stay” may be downsizing or rightsizing.  Moving to a smaller home in that perfect community condo for 55+ with activities and everything provided for you, even housekeeping. While most of the future retirees are not ready for that type of living, those who are will find freedom of yardwork, home maintenance, and more time for family and themselves.

As you consider should I go, or should I stay, finances will be something to be aware of.

For example, if you still owe on the mortgage and would like to retire soon, focus on paying off the mortgage which will free up more income. Wait to take social security at full retirement age, save more, work a little longer to get where you want to be.

Make a list of why you want to move outlining the pros and cons. For example, moving to be near family that would be a pro. Consider whether it would be more expensive to move to another state or city or 55+ community. Will you sell one of your cars? Will you need two cars and a truck? This will cut down on insurance and gas expense for sure.

Make a list of all your expenses you have with your home:

  • Mortgage
  • Taxes/insurance
  • Utilities
  • Food
  • Yard care
  • Home Maintenance
  • Misc.

If you decide that you want to stay in your current home, consider what will be involved to age in place to keep your independence. Life-safety changes such as hand-rails in showers, door handles instead of knobs, wider hallways, and getting rid of the rugs to avoid tripping will be critical. Also consider the safety of your current neighborhood. Is the neighborhood looking good and bringing good values if you sell or has it started to look worn and uncared for? Making improvements to stay in your home will be costly, so make sure you look at all your options.

As the public and the government realize that the population 65 and older is expected to grow from 48 million to 79 million – housing is being built by developers for 55 and older. Some are independent, some communities have independent, assisted, and memory care. Full time nutritionists, nursing staff, fitness coordinators, restaurants, bowling alleys, bars, and many activities. These communities may not be affordable to the majority, hard working individuals that have worked for 40 years at their jobs.  As the demand for housing increases, so will the prices of 55+ communities.

At 55+ Real Estate Services, we understand the challenges of moving after 20, 30, or more years in a home. We are committed to assisting you and your love ones with compassion, solutions, and experienced professionals guiding you all the way.

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