Things to Consider for Moving In Retirement

Moving in retirement (for example, into a retirement village) is a significant life transition that requires careful planning and consideration.

Here are some top tips to help you make a smooth and successful move.

Checklist for a successful move in retirement:

1. Research and Visit: Start by researching different properties and retirement villages in your desired location. Have a look at their amenities, domiciliary care services, retirement living costs, and any specific requirements they may have. Schedule visits to get first-hand experience and assess if they align with your lifestyle and preferences. While you are there try and speak to your future neighbours, there’s nothing better than speaking to people who already live in the village.
2. Financial Planning: It is important to understand the financial aspects involved, including the costs of purchasing, ongoing fees, and any additional charges for amenities or services. Review your budget and/ or consult with a financial advisor to ensure you can comfortably afford the move.
3. Lifestyle Assessment: Consider the lifestyle you desire in retirement. Do you prefer an active community with lots of social activities, or a quieter and more private setting? Assess the retirement property’s offerings, such as fitness and wellness facilities, social activities, restaurants, and cultural events, to determine if they cater to your interests.
4. Location Considerations: Evaluate the location of the property or retirement village. Look for proximity to family and friends, healthcare facilities, shopping centres, and other amenities that are important to you. Find out about the wider local area so you can explore new places, parks and tourist attractions. You should also assess transportation options to ensure you can easily access essential services and maintain an active social life outside of the village itself if required.
5. Review the Contract: Thoroughly review the contract and seek legal advice before committing to any retirement property. Understand the terms and conditions, including financial obligations, rights, and responsibilities. Pay attention to exit fees or conditions if you decide to leave the retirement village in the future.
6. Right size and Declutter: Moving in retirement often requires downsizing to a smaller living space, but this is a chance to move into a property that is a more appropriate size for you and ‘right size’! Take the opportunity to declutter and get rid of unnecessary possessions. Sort your belongings into categories (keep, donate, sell, discard) to make the process more manageable for when you move.
7. Customise Your Home: When moving into your new residence, think about how you want to personalize it. You’ll need to consider the size and layout and how you can optimize it for your comfort and needs. Make sure you bring your cherished furniture, decorations, and other items that will make your new home feel familiar, homely and inviting.
8. Socialise and Connect: Engage with your new community and actively participate in social activities. Retirement villages often offer a range of clubs, interest groups, and events to facilitate social connections. So to settle in, attend community gatherings, introduce yourself to neighbours, and embrace opportunities to make new friends! They have all been in the same boat as you.
9. Stay Active and Engaged: Maintain an active and fulfilling lifestyle in retirement. Take advantage of the amenities and programs offered in the retirement village, such as fitness classes, educational workshops, and hobby groups. Staying engaged will help you adjust to your new surroundings and prevent feelings of isolation.
10. Seek Support: Moving can be physically and emotionally challenging, so don’t hesitate to ask for help. Enlist family members, friends, or professional movers to assist with packing, transporting belongings, and settling into your new home. Your support network and family will be really important during this transition period.

Remember, moving into a retirement village or new property can be an exciting opportunity for a new chapter in your life. With careful planning and consideration, you can create a fulfilling and enjoyable retirement experience in your chosen community. Many of our owners wish they had made the move sooner.

Deeper Considerations for Moving In Retirement

Understanding Your Retirement Relocation

Relocating for retirement can be a significant life change, requiring careful consideration of various factors. It’s essential to understand your motivations for moving and what you hope to achieve in your retirement.

Are you looking to downsize and simplify your living arrangements? Do you want to be closer to family members or friends? Are you seeking a more affordable cost of living or a dream location? Whatever your reasons, it’s crucial to weigh the pros and cons of relocation and consider the potential impact on your finances, health, and social connections.

Taking the time to reflect on your goals and priorities will help ensure that your move supports the lifestyle you envision for your retirement years.

Choosing Your Retirement Destination

Choosing the right retirement destination can be a daunting task, with many factors to consider. Climate, cost of living, and access to healthcare are just a few of the essential considerations you’ve probably thought about over the past few years.

Research different locations and their pros and cons, and think about what you want to achieve in your retirement.

Do you want to live in a town centre with good transport links, or a more rural area with a slower pace of life? Consider visiting potential locations before making a decision, and talk to locals about their experiences and opinions on the area. This firsthand insight can be invaluable in helping you find a place that feels like home and meets your needs for later life.

Financial Considerations for Moving

Relocation can have significant financial implications, and it’s essential to consider the costs associated with moving, including transportation and housing. Research the cost of living in different locations, and think about how your retirement income will be affected by a move.

Consider the potential impact on your taxes, including state income tax and property taxes. If you’re planning to sell your current home, research the local real estate market and consider hiring a professional moving company.

By thoroughly understanding the financial landscape of your new location, you can make informed decisions that help you save money and ensure a comfortable retirement living.

Housing Options and Considerations

When it comes to housing, there are many options to consider – for example, do you want an apartment or house? Think about what type of property will suit your needs and budget, and research different options in your chosen location.

Consider factors such as proximity to amenities, public transportation, and healthcare services. If you’re planning to downsize, consider the 80/20 rule: 80% of the time, you use 20% of your belongings. Be intentional about what you keep and what you let go of, and consider hiring a professional organizer to help with the process.

This approach can make your move more manageable and ensure that your new home is both functional and comfortable.

Healthcare and Support Services

Access to healthcare and support services is essential in retirement, and it’s crucial to research the options available in your chosen location. Consider the quality of local hospitals and medical facilities, and research the availability of specialized medical care and health insurance.

Think about the types of support services you may need, such as home care or adult day care, and research local providers. If you have specific health needs, consider consulting with a healthcare professional to get their advice on the best location for your needs.

Ensuring that you have access to the necessary healthcare and support services will provide peace of mind and help you maintain a high quality of life in your retirement years.

[Originally published 9th August 2024]