Where to Live: Housing or Moving?

Where to live in retirement (both housing decision and city) is an important decision. In 2023, retirees comprised 18.3% of residents moving out of State. Housing decisions often involve downsizing, relocating to lower-cost areas, or moving into retirement communities. At MRC we work with Seniors and Retirees to think through and plan for this very big decision. Some considerations:

• What can you afford to spend on housing? Does downsizing make sense?

• How will you pay for housing? Reverse mortgages may also be a consideration.

• Why moving near your children or grandchildren is not a good idea.

• When to start planning: probably, 5-7 years before retirement. Early evaluation provides time to research options, downsize strategically, or prepare financially for relocation.