Choosing a Retirement Community
About 40% of American retirees downsize or move after retirement. Some retirees opt to relocate to a new community and others decide to age in place. Below are things to consider when choosing a home for retirement and resources to help make the best choice. Tips Alternatives – consider changing lifestyle, downsizing to a condominium, or living with family. Benefits - moving provides opportunities for improving health, lifestyle, and happiness. Communities - choices include active adult, assisted living, life plan (also known as continuing care retirement), and lifestyle communities (e.g., beach and golf communities). Cost - consider financial and psychological expenses of moving; rent before buying to reduce risks. Dwelling - varieties include apartments, cabins, condominiums, garden homes, mobile homes, and townhomes. Family - explore alternatives with family members to achieve consensus. Health - plan for the go-go years, the slow-go years, and the no-go years. Purpose -