We usually associate retirement with that point in life when we have settled down as much as possible, established a home and family, and provided ourselves with a host of comforts. But surely among people facing retirement, some are looking for a new dose of excitement and would like to get a fresh start on life or simply want to be closer to their children and grandchildren. Moving after retirement is one way to make your life more meaningful and easier. We're about to reveal how to find the perfect new home once you retire.
Pros and cons of moving for retirement
Following the expression "Better late than never!", after retirement many people go on exciting trips, take up unexpected hobbies, learn languages, or devote themselves completely to family and loved ones. And some recent retirees decide to completely transform their lives by changing where they live. While moving traditionally happens in our youth, it is one of those deeply underestimated but cardinal steps that can provide us with new emotions and variety in a more mature age. Here are the pros and cons of relocating after retirement:
Exploring new cultures
If you decide to relocate not just to a new city, but to a foreign country, you will have the opportunity to experience a whole new culture. From the language to the traditions, religion, iconic dishes, and the way the locals spend their time, moving abroad is a great way to break up your current work routine, immersing yourself in the unfamiliar and setting up your life in a dream destination.
And they lived happily ever after
Moving after retirement is an excellent way to escape the hustle and bustle of the big city. Settling down in a small village or in an area close to nature is among the alternatives for couples who decide to indulge in tranquillity, dedicating themselves to hobbies such as building, gardening, or keeping animals. In addition, you could choose a location where you won't feel cut off from the rest of your family, you will be able to see them often and spend time with them.
Saving money
In fact, moving after retirement can also be associated with lower costs. In some countries, lower property and fuel prices are available. Food as well as necessities are cheaper. Leisure time opportunities are also affordable. For example, if you are planning to sell your current home, you could invest in a larger property in a convenient location.
Stress
Moving to a new home is often accompanied by headaches. Organising the process requires discipline and an experienced team to assist you. Relocation (especially abroad) is time-consuming, there are many administrative requirements and often mental challenges associated with being far from your loved ones and facing a new culture and unfamiliar language. Fortunately, there are some tips on how to overcome the stress of moving.
Distance from loved ones
Moving after retirement means you won't be living in proximity to family and friends. Wanting to see them more often can be associated with higher transport costs (airfares or fuel) on the one hand, and emotional stress and not being able to be there for them at their most important moments on the other.
Health problems
A hasty move can negatively affect your health. Relocation and subsequent move-in activities can cause both mental and physical strain. In addition, if you are already suffering from a medical condition, it is a good idea to consider the availability of qualified medics in the place you have chosen to move to. Quality healthcare services and access to important medications are key factors that you should not underestimate.
Moving for retirement: What to consider when planning your relocation
As before any major life step, it is advisable to consider the aspects directly affecting your lifestyle and the changes you will face before moving after retirement. Here are the factors to consider when choosing the perfect new home.
Prices
The level of prices specific to the destination you are planning to move to is key in terms of changes to your current income. Even if you are relying on a high pension, affordability is a criterion you should not underestimate. It can tip the scales in favour of a particular country or region or guide you if you haven't yet identified suitable destinations. When looking at location-specific prices, we recommend you consider the potential cost of buying a home, home maintenance (utilities, bills, home insurance), and basic household goods and services (such as healthcare and public transport), as well as the amount you could potentially rent out part of your home for—a great way to generate income if you need extra funds. We even advise you to try to calculate a monthly budget on an individual or family basis, which will help you feel confident about your financial security when choosing a destination.
Access to medical care
Prioritizing health is key for recent retirees. As we've already addressed, relocating after retirement requires increased attention to your health. Having access to quality healthcare ensures that you won't have to worry about aspects such as a lack of hospital facilities near your home (especially in terms of remote areas and poor infrastructure), a shortage of medical professionals, long queues before a doctor's appointment, or a lack of pharmacies or essential medications.
Public transport
In adulthood, it is common to not feel in an optimal state to drive, however, not wanting to involve loved ones and seeking independence in terms of getting around. As well as being more affordable and environmentally friendly, travelling by public transport would guarantee you relative independence. Want to browse a garage sale, go shopping, or indulge in nature recreation? Make sure you can do it all by relying on public transportation in the destination you're planning a relocation to.
Proximity to family and friends
Even the greatest adventurers face the challenge of living far from their loved ones. And when it comes to moving after retirement, we often talk about parting ways with extended family, parents, children and grandchildren. The emotional strain after relocation can escalate, causing you to question your decision. To avoid this situation, opt for a location that is within a convenient distance from your loved ones.
Moving with a pet
If you're planning a post-retirement move with none other than your faithful four-legged friend (or friends), then make sure you don't cause the animal any discomfort. Just as to you, the change of scenery can also be stressful for them, leading to states of depression and a behaviour change. Here's our guide to moving with pets. For those who like the extravagant, we recommend that you note that some countries do not allow certain breeds of dogs, rodents and exotic animals such as reptiles, monkeys, snakes and spiders.
Recreation and leisure
It is after retirement that you would have the most free time. So, make sure you spend it in the best possible way. In this sense, choose a relocation destination with plenty of:
- Green spaces
- Outdoor activities (such as mountain walks, group sports, or gardening)
- Community centres: a great way to get to know your new fellow residents, dedicating yourself to shared activities that benefit the community.
- Cultural events: linked to places such as theatres, cinemas, exhibition halls, galleries, and concert halls.
- Libraries: it is no coincidence that Charles Eliot referred to books as "the quietest and truest of friends". They can be there for you when you're away from loved ones or just looking for a way to learn more about the place you've just moved to.
