As you age, you should assess whether you are capable of continuing to live independently or whether you will need to consider options such as moving into a senior care facility or building your own retirement home. Most of the elderly like to age in a place with as much independence as possible, so it’s essential to consider a retirement place early.
Even if you’re not ready to retire, it’s never too early to start thinking about where you’ll live in old age. By building a retirement home in advance, you can save up for any renovations or repairs that may be needed in the future.
But before buying a lot where you’ll build your retirement flat, read our guide to make an informed decision.
Look for Favorable Design Elements
You need to ensure your new house is suitable for older people. For example, the risk of injury from a fall is very high for the elderly. Slip-resistant flooring and grab bars in the bathroom and other wet areas are two essential features of an elderly-friendly home.
Furthermore, strength typically declines with age. Multi-generational home builders take this into account by designing spaces elders can easily navigate using only one hand and no more than five pounds of force.
Also, all corridors should be wide enough for wheelchair access. Turning around requires a minimum of 60 inches in either direction, so any open areas should be at least that big. Meanwhile, open corridors should be at least 40 inches in width.
Many homes in the United States are not age-friendly. More than a quarter (28%) of the 28.5 million households in the US with a senior reported difficulty using some feature of the home. Nonetheless, you can find a number of builders in Texas, Florida, and California that specialize in age-friendly homes.
Another part of the globe that prioritizes age-friendly communities is Western Australia. In fact, local governments in Western Australia received funding from the Department of Local Government and Communities (DLGC) to conduct age-friendly planning and research in their respective areas.
There has been significant sectoral engagement with the age-friendly approach in many parts of the state, including the South West, the Wheatbelt, and Metropolitan Perth. Moreover, highly regarded contractors, such as builders busselton, Perth, and New South Wales, contribute to the provision of retirement-friendly living spaces.
Work Out a Budget Plan
To help you prepare for your post-retirement years, we suggest meeting with a financial consultant to create a realistic budget. Estimating your monthly retirement income and expenses early will help you plan more effectively. Also, now would be a good time to start thinking about ways to supplement your retirement income with passive income sources.
If you plan to sell your present house to help finance your new one, consult a real estate agent about the ideal time to sell.
If you need to sell your house quickly, you should be able to do it in a seller’s market. On the other hand, if the housing market is currently favorable to buyers, you may want to try renting out your old place once you’ve moved into your new one. In this case, you have found a passive source of income to finance your new property until you can sell your current one.
Stay Close to Your Family
Many envision themselves spending their golden years in a tropical paradise or other far-flung location. However, before starting a new chapter, you should consider the consequences of leaving your current support system.
Having close relationships with their grandchildren is a significant draw for retirees to move closer to their children’s homes. As a retiree, you may find it rewarding to attend your children’s and grandchildren’s sporting activities, musical performances, and birthday celebrations.
In addition, you can always count on having someone to assist you with any yardwork or other duties that require support. However, without close relatives to help out, you may need to look into hiring some outside assistance.
Prioritize Accessibility
When deciding on a location for your home, consider what amenities would be good nearby. Bear in mind that mobility concerns are common among the elderly. Therefore, a property close to public transportation and other amenities should be top of your list of priorities.
If you are a foodie or just like a good meal with friends, ensure that your retirement home has a wide variety of restaurants and dining experiences. Be sure you’ll be able to keep doing the things you love by researching the facilities near your retirement home.
Finally, there should be specialists in your area who accept new patients. Research the local, reliable medical professionals, including primary care physicians, dentists, optometrists, and more, in the place you choose to live in your retirement years.
Don’t take on projects that are located in inconvenient parts of town. Although the low cost of living, peace, and scenic natural surroundings may be appealing, getting to essential places in the city centers may be a hassle.
Choose a Reliable Builder
The perfect retirement home builder will listen to your ideas and goals for the project. Not only will they assist you in realizing your goals, but they should also provide you with clear and concise responses to any inquiries you may have. Look for constructors who can boast a long list of completed projects.
Besides these qualities, you should hire a builder that can show evidence that they have received general liability insurance for their team. In today’s information-rich era, it’s only prudent to conduct some of your builder research online. Inquire for contact information for previous customers and try to gain their honest opinion.
Final Thoughts
Life after leaving your home is bittersweet. But as you move on and face retirement, you want your new residence to be as comfortable as possible. So think carefully about everything we’ve covered in this guide so you can make a well-informed choice when constructing your retirement home.
