Why You Shouldn’t Retire Away From Home

Affordable homes, low state taxes, renowned medical facilities, strong continuing education programs and temperate weather are some of the many incentives that spur seniors to  relocate after retirement.

But contrary to the conventional wisdom that moving is always the best choice, there are some potential challenges that the 65-plus demographic needs to be aware of when transplanting into a new environment.

Departing a lifelong home probably means leaving behind friends, family and a sense of community. One of the questions to ask before making this life-altering decision is whether you can rebuild your social network and a sense of stability in a new city, region or country.

Although the prospect of lower living costs is the impetus for many seniors to pack up their bags, seniors should be aware that there’s a spectrum of different costs on top of the price of real estate. Check out state tax rates, property taxes and property insurance costs – as well as getting up to speed on the state of the local economic climate (unemployment, sales tax etc.).

A sunnier, warmer climate may be good for mental health and the soul, but older Americans are also more susceptible to health problems caused by the heat. With aging, the sweat glands are less efficient and circulation worsens, and medications and conditions like high-blood pressure make it more likely to be impacted by a heat-related illness, such as heat exhaustion or heat stroke.

As seniors grow older, it’s inevitable that they’ll need more assistance from others, and it is likely family members will be pitching in from long-distance. According to an article in The New York Times, three out of four relatives spend at least a day a week helping out a family member from afar.

Start by talking to family and friends about your plans to retire away from home, and get their feedback. Dive into some research about the spot of interest, and read some local news stories to get the gist of other ongoing issues that could affect the landscape of the community in the future.