Steps to Make Your Retirement Dream Home Come True

You have pictured it for years. Every long day you spent at the office and every business trip you had to spend away from home placed the longing dream of retirement in your mind. Specifically, you might have planned your dream home in detail. Maybe that dream home was near the beach or tucked away in the mountains.

When it comes to planning for retirement there are many details that one needs to consider. While dreaming of your perfect retirement home might be one thing, actually planning and making it happen is another. Here are 4 important steps that you need to take to make your retirement dream home come true.

  1. Have the Tough Conversations

Market Watch shared many mistakes that couples can make when they plan for their dream retirement home. One aspect they mentioned is the importance of talking with your spouse and having the hard conversations about the realities of your retirement. President of Heafner Financial Solutions in Charlotte, N.C. stated: 

“So many people I meet haven’t talked about it. There has been no conversation or planning. They have been married 30 or 40 years. He thinks they are going to the mountains, she thinks they are going to the beach. Preplanning is really important. These are hard conversations that you think people will talk about, but with busy lives they just don’t.”

When you and your spouse can be on the same page, it will help in the planning process. When you give yourself the time to sit down and discuss what it is that you really want, you will be taking one giant step in making your dream come a reality.

  1. Have a Plan and Try It Out

One of the hardest parts that couples can face when they face retirement is nailing down what it is that they actually do want. While a lot of ideas might be great in your mind, making sure you have tried it out will be important. If you want to move to Florida, make sure you visit the state. If you plant to move closer to family, stay with them and get to know the area. If you want to buy an RV and travel around the country, rent one for a week and try it out.

  1. Ask Yourself Key Questions

When it comes to planning for your retirement home there are a few questions to ask yourself. Here are a few:

  • How important is it to be close to family? Where are your children and grandchildren?
  • Once you actually retire, do you know what your fixed income will be?
  • Are there ways to get around once you might not be able to drive?
  1. Seek Professional Advice

When it comes to preparing for your retirement home, do not be afraid to ask experts. There are many people available that make this their priority to know what is best for someone in your situation. Explore your opinions. Ask your real estate agent for their insights. Seek out a financial planner to help you find the best financial path. 

Take Away

If you are serious about buying a retirement home, having the tough conversations, creating a plan and trying it out, asking yourself key questions, and seeking professional advice are all ways to set you on a great path. Before you know it, your retirement dream will be a reality.  

If you have questions, please give us a call. We would be honored to help.

248-348-7200