3 Great Perks of Buying a Home as an Empty Nester

Many people decide to buy a house when they are starting a family or embarking upon their new adult life. But what if you're an empty nester? You're in a completely different place than your younger home-buying peers, but that doesn't mean that jumping onto the property ladder isn't just as exciting or as beneficial to your finances.

In fact, here are a few huge perks of purchasing a home as an empty nester that you may not have realized, but that just may convince you to call a real estate agent.

1. You can look for aging-in-place features

Many people who are in homes they bought a long time ago want to stay put as they get older, but can't necessarily do so because their house isn't set up for it.

In fact, a third of all adults surveyed by AARP indicated they would need to make modifications to their current home if they developed physical limitations. This includes 79% who would need to change their bathrooms to install grab bars or add no-step showers. And 71% said there were inside and outside accessibility issues with their current properties.

If you're an empty nester and are getting older already when you move forward with getting a mortgage and buying a place, you can look for a property you can stay in even if health issues arise. Rather than searching for a home with a big playroom or a large backyard for the kids, you can focus on finding a home with wide doorways a wheelchair could fit through and no steps leading up to the front door.

This gives you the opportunity to maximize the chances you'll be able to stay in your house for as long as possible -- which is what most people would prefer.

2. You can opt for a smaller home

If you don't have children who need bedrooms and room to play, you can look for a smaller house when you're buying as an empty nester. This has a few big benefits.

One advantage is you may have a wider selection of homes available in different geographic areas. For example, if you want to live within a walkable city center, it may be easier to buy a small house for an empty nester than a big family home.

Smaller homes also often cost less, so you can have lower mortgage payments. The utilities won't cost as much in your smaller space, and your property taxes may be lower as well. So, the house may end up being much more affordable than one you might have bought earlier.

3. You can lock in your housing costs for retirement

Finally, when you buy a house and get a fixed-rate mortgage, your housing costs should not change much going forward. While you may see slight increases in property taxes and insurance over time, those changes typically won't be dramatic -- and your mortgage payment isn't ever going to change (unless you refinance your loan to lower it).

This means you won't have to worry about a landlord raising your rent, which could cause you struggles after you retire and end up on a fixed income.

If you're an empty nester and thinking about making a home purchase, these benefits may just convince you that it's a good choice. Just be sure you're financially ready, which means you should have a down payment and you should be able to buy with a mortgage that keeps your housing costs below 30% of your income.

If you're in a good financial place to buy, then you can take advantage of these big benefits of making your home purchase as an empty nester.