Scaling Down to Meet Your Retirement Objectives
When it comes to retirement, it’s important to differentiate between direct 'needs' and nice-to-have 'wants'. The reason is simple: 9 times out of 10, there is no Plan B or a higher paying job after retirement. One of the fastest ways to give your income a boost is to downscale to a property that has fewer expenses attached to it. Although it might be a bit smaller and the grandchildren might have to share a room when they stay over, it will provide you with the means to cover those ever-increasing medical bills, travel expenses, lifestyle fixes that come during retirement.
New Home: What Type of Housing Makes the Most Financial, Physical, and Emotional Sense?
Before making an offer to purchase a new home after retirement, it’s important to make a few calculations.
- Will the new property cause further or higher levels of debt?
- Is it in a better location in terms of amenities in the area?
- Did you make the decision on the location based on sound advice?
Moving to a new property can be quite stressful, which is why it is important to ensure that the right home meets all your needs, not just another nice overpriced house with great scenery but no functionality. Aspects to consider would include:
- Amount of traveling to be done to see family or close friends
- Where the nearest airport or train station is for said travel
- Ability to move about town safely with public transportation
- Average weather all year around
These features can add additional costs to moving expenses, so be sure to look at every angle of a new city to be sure its the right fit and NOT follow another "Top 10 Retirement City" lists.
This personal retirement assessment helps retirees narrow down retirement destinations based on nearly 30 criteria points - from cost of living, to taxes, to weather to activities.
Find out HERE what city fits you!
Old Home: How to Sell Fast for Top Dollar
You don’t have to spend a fortune to make the property sparkle unless it’s in a state of serious disrepair. Small touches such as painting the trimmings and planting bright flowers in the garden will make a world of difference on the outside. Also, be sure to pull out all the weeds and cut back branches and leaves that hide the charm of the property.
On the inside, a thorough cleanout is the fastest way to provide a potential buyer with a clear picture of the structure of the property. Give your home a good scrub being sure to use safe cleaning products. Selling a home is a great chance to remove piles of clutter and extra objects that tend to cause house viewers to look for the next best property, as very few have the ability to see the true potential of a messy, cluttered property. A good cleanout also works psychologically on potential buyers, as the property will be able to sell itself if they can envision their belongings in the space.
This post comes from Philadelphia-based writer and housing, cleaning and building guru Jocelyn Brown.
Images by the the brilliant Carl Richards and his Behavior Gap philosophy.