Welcome to the AllIdahoFallsRealEstate.com Blog

2019-04-08 13:50:50
What to Consider When Retiring in Idaho Falls
What to Consider When Choosing Your Home To Retire In |MyKCM

As more and more baby boomers enter retirement age, the question of whether they should sell their homes and move has become a hot topic. In today’s housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to evaluate your home’s ability to adapt to your needs in retirement.

According to the National Association of Exclusive Buyers Agents (NAEBA), there are 7 factors that you should consider when choosing your retirement home.

1. Affordability

“It may be easy enough to purchase your home today but think long-term about your monthly costs. Account for property taxes, insurance, HOA fees, utilities – all the things that will be due whether or not you have a mortgage on the property.”

Would moving to a complex with homeowner association fees actually be cheaper than having to hire all the contractors you would need to maintain your home, lawn, etc.? Would your taxes go down significantly if you relocated? What is your monthly income going to be like in retirement?

2. Equity

“If you have equity in your current home, you may be able to apply it to the purchase of your next home. Maintaining a healthy amount of home equity gives you a source of emergency funds to tap, via a home equity loan or reverse mortgage.”

The equity you have in your current home may be enough to purchase your retirement home with little to no mortgage. Homeowners in the US gained an average of over $9,700 in equity last year.

3. Maintenance

“As we age, our tolerance for cleaning gutters, raking leaves and shoveling snow can go right out the window. A condominium with low-maintenance needs can be a literal lifesaver, if your health or physical abilities decline.”

As we mentioned earlier, would a condo with an HOA fee be worth the added peace of mind of not having to do the maintenance work yourself?

4. Security

“Elderly homeowners can be targets for scams or break-ins. Living in a home with security features, such as a manned gate house, resident-only access and a security system can bring peace of mind.”

As scary as that thought may be, any additional security is helpful. An extra set of eyes looking out for you always adds to peace of mind.

5. Pets

“Renting won’t do if the dog can’t come too! The companionship of pets can provide emotional and physical benefits.”

Consider all of your options when it comes to bringing your ‘furever’ friend with you to a new home. Will there be necessary additional deposits if you are renting or in a condo? Is the backyard fenced in? How far are you from your favorite veterinarian?

6. Mobility

“No one wants to picture themselves in a wheelchair or a walker, but the home layout must be able to accommodate limited mobility.”

Sixty is the new 40, right? People are living longer and are more active in retirement, but that doesn’t mean that down the road you won’t need your home to be more accessible. Installing handrails and making sure your hallways and doorways are wide enough may be a good reason to look for a home that was built to accommodate these needs.

7. Convenience

“Is the new home close to the golf course, or to shopping and dining? Do you have amenities within easy walking distance? This can add to home value!”

How close are you to your children and grandchildren? Would relocating to a new area make visits with family easier or more frequent? Beyond being close to your favorite stores and restaurants, there are a lot of factors to consider.

Bottom Line

When it comes to your forever home, evaluating your current house for its ability to adapt with you as you age can be the first step to guaranteeing your comfort in retirement. If after considering all these factors you find yourself curious about your options here in Idaho Falls, let’s get together to evaluate your ability to sell your house in today’s market and get you into your dream retirement home! The Cindy Bates Group will be sure to match you up with the perfect home for your changing needs! 

 
Blog Archive
2020-02-24 12:09:09
New Homes on the Market And Southeast Idaho Events!

2020-02-20 12:22:26
Active Listings in Southeast Idaho

2020-02-13 12:50:00
Global Events affecting Idaho Falls Market

2020-02-11 15:22:53
Homeownership Rate on the Rise to a 6-Year High

2020-02-10 11:16:11
Take a look at The #1 Move In State!!

2020-02-04 10:04:37
Do you think Gender plays a role when investing in Idaho Falls?

2020-01-28 09:43:15
Should You Sell Your Idaho Falls House This Year?

2020-01-27 15:17:10
First-Time Idaho Falls Buyers Are Searching for Existing Homes This Year

2020-01-22 09:34:58
Idaho Falls Buyers Can Win By Downsizing in 2020

2020-01-21 10:56:25
The 2 Surprising Things Idaho Falls Homebuyers Really Want

2020-01-16 09:58:32
Housing Inventory Vanishing: What Is the Impact on You in Idaho Falls?

2020-01-15 15:02:31
Idaho Falls home buyers increasing their Wealth!

2020-01-14 10:36:23
2020 Luxury Market in Idaho Falls

2020-01-10 11:19:19
Your Hometown Lowdown: True Love Skincare with Tricia Barnes

2020-01-09 11:37:27
There’s a Long Line of Buyers Waiting for Your Idaho Falls House

2020-01-08 12:45:47
Is The New Spring Real Estate Market Here in Idaho Falls?

2020-01-07 22:20:44
Big Demand for Small Homes Coming to Idaho Falls?

2019-12-30 16:20:16
For Sale By Owner? Give us a Call first!

2019-12-18 15:27:01
The Biggest Issue Facing Housing Next Year in Idaho Falls

2019-12-10 09:53:05
What difference Does a Year Make in Idaho Falls?

2019-12-09 20:37:52
Have You Budgeted for Idaho Falls Closing Costs?

2019-12-04 10:45:51
Is A Bigger Idaho Falls House Within Your Budget?

2019-12-03 14:58:29
Winter Sales in Idaho Falls

2019-11-27 14:19:24
Tips to Sell Your Home Faster in Idaho Falls

2019-11-26 10:04:11
Owning Your Own Idaho Falls Home

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.