Should you move or stay put in retirement?

Wherever your next chapter takes you make the most of it. The right choice has everything to do with what matters to you.

As you map out your retirement reality, where you live is going to be a big part of it. Do you want to stay in your current home? Downsize to something smaller? Each option has advantages. Here are some things to consider:

Which option is more affordable?

Selling your house frees up money, and you could move to a less expensive area. Plus, downsizing could help with your budget and be easier to maintain, unless you relocate to a more expensive area.

How will I maintain it?

If you stay in your home, think about how routine maintenance will get done. Budget for it if you need to hire help. If you’re adapting to a reduced income, it may become harder to maintain home repairs or maintenance costs.

What will I need?

It is best to think about housing long before the need to move. Are you looking for more flexibility, to pick up and move? Then renting might be easier. What about space? Do you long to be in a smaller house? How much of a role does weather play in your decision? Will you want to live in a warmer climate?

How will a move affect my relationships?

You may be reluctant to leave nearby family or the community you know and love. If you expect to return home often, will you need to be close to an airport?

Will I be able to age well in my home?

Wherever you live, you’ll want to make sure that your home will be able to accommodate your needs as the years go by. If you want to drive less, consider a location with public transportation.

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EB017816 (10/22) 2022-142924 (Exp. 10/24)

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Material discussed is meant for general informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guardian® is a registered trademark of The Guardian Life Insurance Company of America. © Copyright 2022 The Guardian Life Insurance Company of America.