How To Upsize During Your Retirement
If you've always had a go-big-or-go-home attitude, don't let that change during retirement. Contrary to popular belief, you do not have to downsize your living arrangements to enjoy your best life past 65. You may find that a bigger house is just what the doctor ordered. But there are a few things to think about before you make your move. Entrust Movers explains below.
When it's time to retire, the question of whether to move into a smaller home or a larger estate may be one of the first things on your mind. To answer this question, consider the following when you think about what you want out of the next 20+ years:
More room for family and friends to visit. If you currently live in the city, you're probably cramped for space. Moving to a larger home will give you room to spread out, meaning friends and family can make their way to you more often and will feel comfortable staying. This can help you cultivate stronger relationships, particularly with grandchildren who may be inclined to spend summers on the farm.
Better quality of life. Looking at a rural property, it's easy to see why quality of life is enhanced. Less traffic, a slower pace, and arguably better scenery can all help you live with less stress, which can equate to a longer life.
Create your legacy. If you want your children's inheritance to be about more than money, having a place to "homestead” can help you do just that. With a larger piece of land, you may be able to leave property to more than one adult child.
What to look for
Make a list of everything you want on your property. In addition to bedrooms, baths, and interior space, consider the following:
Affordability. Affordability is an obvious concern, regardless of age. Take the time to get to know your finances and talk to a lender about what you can afford. Typically, lenders want your home payment to be 43% or less of your total monthly income, according to the Consumer Financial Protection Bureau.
Upkeep. Home and property maintenance is an obligation for you and your pocketbook and also a drain on your free time. Before you make any decision on a home, think about how much time and money it's going to take to keep it up and running.
When you lived in one home for many years, small details about moving into a new one may skip past you.
Transfer your utilities. One thing you can't forget: transfer your utilities. This includes your water, electricity, and any services (such as pest control) that you use. You'll also want to check your new area for the best internet connection, which in many cities now includes 5G ultra-wideband — something you can entice your tech-connected grandchildren with.
Hire a reputable moving company. Another consideration is to get a moving quote before you start to pack. Not only will hiring a moving company mean less stress leading up to moving day, but you'll also run less of a risk of suffering a back or body injury while getting settled into your new place.
Check for police and fire coverage. Having reliable access to expedient police and fire protection is crucial to your overall safety. Furthermore, as Riesling Insurance explains, it can also affect your homeowner insurance rates.
Transitioning into retirement doesn't have to mean moving to a smaller home. An estate property can enhance your quality of life and allow you to spend it with those you love. But don't forget to manage the details. Most importantly, find a moving company that you can entrust your move to, no matter where retirement leads you. With crews ready when you are, Entrust Movers can get you out the door and on your way when you’re ready.
Get in touch today. Call (713) 296-9934.