Quick Tips for Buying a Home in Your Senior Years

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If you’re looking for a fresh start in retirement, buying a home could be a great decision. But making a major purchase in your senior years does come with a few challenges. How can you find a home that will meet your changing physical needs? Can you afford a new mortgage on a fixed income? Are you ready to face a stressful move? Taking the time to answer these questions will ensure that you’re properly prepared for this big move. Read on to learn from Restoration Harmony's guest blog expert Hazel Bridges from AgingWellness. 






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Finding Your New Home

It’s important to consider your current and future needs when looking for your new home. 

• Consider walkability to nearby amenities and services.
  
• Think about the features that will enable you to age-in-place.
  
• Look for single-story homes to avoid navigating staircases every day. 
  
• Restoration Harmony Homes can help you remodel your new home so that it better fits your needs.
  

BEFORE

AFTER

AFTER

Buying a Home on a Fixed Income

Be sure to get your financials organized before you start hunting for homes.

• Calculate how much house you can afford based on your household income.
  
• Remember to account for hidden home buying costs in your budget.
  
• Look for a home with a mother-in-law income suite so you can rent space to offset your mortgage.
  
• Research and compare your different mortgage options. 
  

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Planning for Your Move

Moving can be incredibly stressful, so start planning for the big day far in advance. 

• Get a feel for how much it will cost to hire movers.
  
• Research nearby moving services and book a company for moving day.
  
• Start decluttering and packing up your belongings.
  
• Remember to pack a first-day box with your everyday essentials.
  

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Selling your home and buying a new one is an excellent chance to move somewhere new in your golden years. Perhaps you want to be closer to family, leave the cold winters behind, or enjoy the convenience of city living. Whatever your reason for buying a new home, taking the time to evaluate your budget, research your housing options, and plan out your move will ensure your purchase is a success! 

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