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Home > Choosing the Active Lifestyle You Want
Choosing the Active Lifestyle You Want!
Retire From Work, Not Life!
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Exchanging your current lifestyle for something simpler is important to the 55+ crowd. That cumbersome colonial looks even larger now that the kids are grown and gone. Know what your needs are and the process of choosing a location and new home will be much easier. Here are some things to consider as you plan this lifestyle change:
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- Start planning early! Many people wait until they actually retire before they begin investigating all their options. Financial adjustments in your saving and spending habits are vital to ensure a comfortable lifestyle. Define your goals early but be flexible enough to change if the economy changes.
- How will you finance your new residence? Are you buying a second home for vacations now and to live in later? Will you use the cash from your current home and buy a smaller space or similar square footage but differently configured? Will you rent or buy your new home? Rentals make good sense if you sell your home and need time to look around. Many Active Adults sell their mortgage-free homes and pay cash for their next home. A session with your tax advisor will help you plan in perspective.
- What kind of climate do you like? Many people enjoy the temperate climates without severe changes in temperature and weather conditions. Regardless of where you decide to move, live in your new location for a time before you make a final decision to move permanently. Humid southern or desert climates are a welcome change in January but difficult to deal with in August!
- What type of residence do you want? Perhaps a smaller single-family home with a yard; a townhouse with an elevator, or a patio home with no yard and easy maintenance in a golf course or waterfront community. How many bathrooms do you want? What type of floor plan suits your needs? Is there ample storage? Is the kitchen suitable for your cooking style? Builders are banking on the baby boomers need for luxury and space on one level with perhaps an upper loft to use when the children visit. They understand that this buyer wants to bring many of their treasured heirlooms with them so they allow for gracious living spaces to accommodate those needs.
- What amenities do you need or enjoy? Do you enjoy golf, swimming, boating, tennis, jogging? If a golf course is included, what are the greens fees? Are non-residents allowed to play? Be careful about buying into a community before the facilities are finished. How many pools are being built and how soon? If you're one of the first residents to move into a larger community, the pool may seem "private" at first - until more residents move in and it becomes crowded. Buy your new lifestyle based on what you like to do now as well as what you might like to do in the future.
- How much will it cost to live in your new home? If you're moving into a planned community, are there entrance fees? Monthly fees for maintaining the grounds? Factor in the basics like buying groceries, paying utilities, added sales tax, etc., since these costs can quickly eat away at your retirement nest egg. The costs will also vary depending on whether or not you choose a large city, small town, or something in- between.
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Once you've answered these questions, you can visit the areas you like and investigate each one. Don't just vacation there- really visit! List your criteria in order of importance and rate each one of them on a scale of 1-10. Check out the Chamber of Commerce, read the local papers (subscribe to them when you return home to keep up with the news and local events). Check housing prices, rentals and visit as many residences as you can. Is the area convenient to transportation? What about medical facilities or cultural events or educational opportunities? Visit the local municipal offices to find out about restrictions that would affect your lifestyle.
- Talk to lots of people. Locals and friends want you to move where they are but only you can make the decision as to whether it's right for you. Read up on the locations you like and remember that the writer is not living there - but you will be! That's why renting for an extended period of time is a good idea.
- Use the services of a Buyer Agent to represent your interests when you purchase from a builder. The builder pays that agent a fee for bringing you to him. Use an agent knowledgeable about new homes and who can explain the construction cycle to you. It helps to have someone who understands the process and who is representing your interests to guide you through the steps in buying a new home.
- Use your local library and the Internet to search for information. Libraries often have out-of-town newspapers which are valuable for obtaining information on housing costs, help wanted ads, editorial slant on the politics of the area's taxes, crime, neighborhood improvements, cultural activities, and more. The classified will provide invaluable information on house resales as well. Internet sites list area communities touting various lifestyles, and you can often request information online to help you narrow your search.
Don't be surprised if the process of changing your lifestyle takes several years to complete. There's a lot to plan and prepare for.
Start now - the best is yet to come!
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