Common mistakes to avoid
Often people make choice for retirement location without planning much.They are unaware of the lifestyle changes that a retirement has , thus end up spending rest of their retirement period in a place that gives them more worries than the relaxation and enjoyment they dreamt of.
Common Mistakes to Avoid while choosing a Retirement Location
Recent surveys reveal that nearly 80 million baby boomers are preparing to retire in the US. And if you're one of those retirees who have never given retirement a serious thought until now, you're not alone!
Here is a list of some of the common mistakes many retirees make while investing in a retirement home:-
Buying a retirement home in the same town as your adult children
Sounds good, but may not be practical in the long run since most adults in the US are not "settled" in one town for long and may relocate several times for jobs.
Buying a retirement home in any place that has plenty of "sunshine"
While that could be "one" of the reasons, it certainly isn't a "good enough" reason for you to invest your hard-earned cash in a place just because it is warm and cozy. Besides the weather, there are other important factors like living costs, healthcare facilities, senior transportation, etc. that need to be taken into bconsideration.
Retiring in your summer vacation home
Seems like a tempting idea, but don't forget-the 6 weeks you spend in your summer home may not give you the best idea of that location with regards to climatic conditions, transportation, etc round the year. For example, a place that is paradise in summers could be a living hell in winters! Or maybe the local shops don't sell any of the "brands" of herbal foods you can't do without (and which you've been bringing to the vacation home all this while.
Buying a retirement home in a golf course community
Settling for a brand-new retirement home in a golf course community where you live out your dream - 18 holes at least four days a week - seems to be the new buzz among most retirees. But you know what's truly amazing-most retirees who dream of playing golf everyday after retirement have never picked up a golf club yet! So how do you know you're going to "enjoy" it? What if it isn't your thing and you're bored after a while.
Also, if you're planning on working after you retire, chances are you won't be walking to work if you're living in a golf course community. Most golf course communities are build on remote edges of the suburbs, since the land is cheap enough to make these projects economically feasible. So you will have to depend a lot on driving to get everywhere!
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