A lot of people may not consider their Louisville real estate when they are planning for retirement. Savings and income is the main focus for retirement planning but real estate can play an important part of the process. (By the way, I know a great Louisville financial planner, if you need one.)
If you are financially set up for retirement, where do you want to be and what kind of lifestyle do you want to be living? The answers to these questions will help determine what kind of accommodations you should be planning for in the future.
What lifestyle do you envision for your retirement?
A lot of people think about retirement immediately make travel plans! If this is you, traveling your way across Europe during your golden years, you may want to think about owning a condo rather than single family home. With less responsibilities at home you’ll have more freedom to travel and enjoy your time away.
Would you like a quiet country life?
Some people that have lived and worked in the city throughout their lives plan a quiet retirement in a rural area outside the city. If this is the case, your Louisville real estate agent can point you in the direction of certain areas that are lower in price and have a strong senior community.
Do you want to reside in the same Louisville neighborhood?
You may have built up your own community of friends or even family in your neighborhood and may want to remain there for as long as possible. If this is the case, you may want to start looking for a single story home in the same area. In your older years you may not be able to manage stairs as well as you can now and will appreciate having to navigate just the one floor.
Can you envision a retirement community?
You may or may not want to be surrounded by other seniors when you are older. Some seniors prefer to live in a community with both older and younger people and families. While some people prefer the quiet surroundings of other seniors.
Retirement planning involves more than financial planning. You also need to look at your Louisville real estate retirement goals and based on your budget, find the right type of community living. Planning it out will make everything easier when the time comes to move. It will make your retirement less stressful when you have decided where you want to be and the lifestyle you want to live when the golden years arrive.