Where will I live?
Another of the most common questions asked about retirement.
Ask yourself is it time to downsize, move to be close to family members, have a sea or tree change or stay put? This will depend on several factors. However, remember there is no such thing as a 10/10, a perfect solution.
If you are mortgage free one option is to stay where you are currently located. Familiar services and amenities can provide a greater sense of certainty for people as we age. In fact, the Australian Federal government tried an initiative to encourage retirees to downsize from large family homes to more compact accommodation. The idea was to open the housing market to younger growing families whose children would now fill the empty bedrooms vacated by adult children moving out of the family nest. What resulted was the discovery that retirees tended to wish to stay in an area they are familiar with. They already know where the Post Office, the supermarket, the library or the local bowls clubs are located; either a walk or a short drive away.
When deciding where to live most Australians look for leisure activities, low crime rate, accessible transport, relatively low cost of living, good climate and good medical facilities. In Australia there is a trend to move out of the large metropolitan cities to regional areas to experience a sea change or a tree change. The cost of housing in regional areas can be a little less than in the city.
If you are considering relocating it’salways a good idea to visit several areas before you decide to move anywhere for your retirement.
While visiting an area it is an opportunity to gauge the cost of living and evaluate the amenities for retirees.
To some people being close to family is paramount. This enables adult children to have their parents close at hand. For Grandparents it enables them to be a part of their grandchildren’s lives, to be able to watch them grow and develop.
Probably the most important aspect of choosing where to live when you retire is communicating clearly with the other significant people in your life. Being able to openly share your ideas and dreams for your next stage of life is vital. Also being prepared to compromise on some elements of your dream will make the decision pathway smoother for all.