Relocating Residence in Later Years

Dear Dr. LeCrone:

After many very happy years of living in our current home, my wife and I are in a quandary about our future residential needs.

We are both retired, live on a fixed income, and now have knee, hip and balance problems that make our current floor plan problematic. Modification of our home to meet our needs would be too expensive.

We also lack a good support network in our neighborhood that gives us concern should we need assistance.

Repairs and maintenance also are beginning to cause us problems. We are sharing some fears about uprooting ourselves and leaving the home that we have lived in for many years.

Can you please give us your thoughts on this subject?

Dear Reader:

You may want to consider some of the following factors in your decision about changing your “nest” in later life.

* If you don’t need and/or want the amount of space you have now, consider downsizing.

* Plumbing, electrical, paint and other areas of upkeep increase as a house grows older. Are you going to want to spend your time and money on maintenance and repairs on an older residence?

* It sounds like your current floor plan may not be safe. Young families love two stories, split levels, big yards and lots of space. But these same features may be difficult for the second half of life because of things like stairways and lawn maintenance.

* Is the location still desirable and practical? Residences acquired in early adulthood may, 30 or 40 years later, be in areas where crime, noise or traffic patterns can be a problem.

* Retirees may want to travel and not be burdened with the responsibility of yard maintenance, security and other issues that must be taken into account with partial absentee ownership.

* A desire to be nearer medical facilities or closer to family members may need consideration.

* Wanting to convert one’s home equity into retirement income may be another good reason for change. Moving to a smaller house may make more money available for living expenses.

Give yourself time to make your decision about moving. Perhaps talking to other retirees about their decisions to stay or relocate would be helpful.

I wish you happiness with your choice.