The Types Of Houses People Should Avoid In Retirement

There can be a lot to think about when it comes to where you want to live during your retirement. Beyond the geographic considerations (of which there can be many) is the actual physical space you choose to live in. While many empty nesters often choose to downsize to smaller homes after their children move out, those who might be considering moving to an entirely new state in retirement (we have some cheap suggestions) or even another country for their golden years might want to factor in other considerations beyond just the size of the home.

While no one necessarily thinks about the safety elements of a home when shopping for a new one, it can be especially important for older persons to think about. According to the Hospital for Special Surgeries, an estimated one in four older Americans will fall in a given year. Of those people, half will fall again. This can lead to injury and even death so the safety factors of a home should absolutely be a consideration when thinking about what kind of home to retire in.

This can also be an important element to consider when deciding whether to move farther from or closer to family during retirement. For instance, while cultured European countries can offer affordable retirement lifestyles, they might not necessarily be the best option if you're looking for more emotional support and networking with family. Let's dive into some home considerations, especially what to avoid, when looking for a house to retire in.

For starters, there are financial considerations to factor into any home you might want to retire in. This can mean avoiding a home with high property taxes or even avoiding a home located in a declining area in which your property value might ultimately decline. Perhaps the most important financial factor to take into consideration, though, is not spending too much on whatever house you do choose. As tempting as it can be to purchase a luxury home with fancy features, if you push your finances to their limits you could end up regretting it in the future. The key is to find a home that gives you the financial breathing room for whatever the future might bring.

Now, when it comes to physical features to consider in your home, keep in mind that while stairs and multilevel homes might seem fine at your retirement age, they might not be fine 10 or 20 years down the line. Ensuring the home you pick offers the flexibility necessary for any potential physical or medical issues you might face in the future can be an important foresight when looking for a home. Similarly, avoiding homes that might have high maintenance features like pools or large backyards can help ensure you're able to take care of your property even as you age. For those thinking they could simply hire services to take care of those elements, remember that your fixed retirement income might be better served by using that money somewhere else.

While the parameters of your indoor physical space are obviously quite important, it's also important to consider the risks involved in where that space might be located. The increase of climate change-fueled natural disasters and weather events can make certain geographic regions inherently less safe than others. In fact, we have a list of certain American cities we warn against buying a home in due to the risk factors involved in living there (not to mention the added expense of trying to get things like homeowners insurance coverage). While beachside property might sound like a great way to spend your golden years, living in the path of hurricanes and tropical storms can quickly ruin the fantasy. Similarly, living in a place with any kind of extreme climate can prove difficult and ultimately make your everyday life harder as dangerous weather systems continue to get more intense and more frequent.

Along this same vein, you might have even had the idea to make your vacation home your full-time residence in retirement. However, in addition to the fact your vacation home might be located somewhere that will face increased weather issues, the home itself might not necessarily be cut out for full-time living. Whether that means the home isn't able to comfortably handle other seasons outside of the vacation season you might normally use it for, or the fact that the home could be located somewhere with limited nearby resources (like grocery stores, pharmacies, or even hospitals and medical care altogether).