When it comes to choosing a home to retire in, you’ll want to take a few factors into consideration so that the choice you do end up making feels like “home sweet home“. Here’s what you need to think about before you approach the golden years.
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What your budget should be
Purchasing a home is a big deal financially. Moreover, purchasing a home becomes even more significant if you are considering using most of your retirement savings to buy a home you will be most comfortable in. If you’re not that good at crunching numbers, or you simply don’t have the time for it, using an online affordability calculator might help. Furthermore, an affordability calculator can help you get down to what you can actually afford monthly based on your monthly income, the down payment you can make, taking into account other expenses such as Homeowner’s Association fees, property taxes, etc.
Storing your things until a later date
Since moving house can be quite a stressful event, it might be useful to consider storage options in Virginia (if you live in the area) to give you time to sort through your belongings on your own terms. For example, you can expect to pay around $76 for a 5’x5′ storage unit in the area, going up to $164.81 for a larger 10’x10′ storage unit.
Decide whether you need a homeowners warranty
To determine whether a warranty is worth it, you’ll first need to determine what shape your future home is in before you go any further. The first thing to do is have a look over the home inspection report to see if there are potential issues with your future home’s appliances or systems. If anything does stand out as odd to you, a home warranty will cover the cost should any of these need repairs or maintenance down the line.
Also, it’s a good idea to double-check if there is an existing home warranty in place and what it covers to see if you need to apply for an extension on your cover to insure what it doesn’t include. Items covered by a home warranty include coverage of your furnace, your electrical and plumbing systems, your HVAC system, etc.
Check how walkable your community is
If you don’t want to think about the prospect of having to drive everywhere to get about, then choosing an area where everything you need is nearby is probably the preferable option. Taking into account how walkable your city is will not only make it easier to get around, but it’ll also be better for your health too, as you’ll get to exercise more as a result.
Choosing a turnkey home
Opting for a turnkey home may also be the best alternative if you don’t want to tackle home renovations or anything of the sort, especially if you don’t have the finances or energy to spend on major upgrades. The same goes for the condition of the yard, too, if you don’t want to spend most of your time tending to a yard that is too large to maintain on your own.
Being close to essential amenities
Being closer to essential amenities will come in handy in your senior years, especially if you’re not in the mood to travel far to take advantage of the sights and sounds of the city.
All in all, finding a home you’ll be happy with is going to be a lot more important, especially where the senior years are involved, if you want to live as contentedly as possible; hence, why you should be thinking about things like home warranty insurance, so you have one less thing to worry about.
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