4 Things Seniors Should Look for When Buying Their Last House

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  • Many seniors want to buy a house they can remain in for the rest of their lives.
  • There are different features you should look for when buying a final home.
  • These include aging-in-place features and more.

Don't buy your retirement home without reading this.

If you're getting older, you may be looking to downsize from your family house and buy a place you can stay in for the remainder of your life. Moving can become more difficult once you've reached a certain age, so it's especially important to find the right property when you're searching for your last house.

To make sure the home you end up in is really one that you can likely stay in for your remaining years, be on the lookout for these four features.

1. Aging-in-place features

The most important thing to look for when searching for your last house is a home that you will be able to stay in if your mobility becomes impaired. Many people become less able to get around when they get older, and that's often what forces a move.

Some key features to try to find include:

  • A house that allows for one-story living, with a kitchen, bedroom, and bathroom all on the first floor.
  • A home that could be made handicap accessible. This includes one without stairs to enter, with a shower level with the bathroom floor, and with areas to install grab bars if needed.

2. Easy maintenance

The last thing you want to do is spend your retirement cleaning and doing tons of outdoor work. And you may become unable to clean a huge house or mow a large lawn and tend a large garden late in life. So, be sure the property you choose isn't going to impose a big burden on you when maintaining it.

3. Proximity to healthcare services and other amenities

You may need to be close to a hospital or specialized healthcare providers if you develop medical issues as you age. Be sure the home you purchase is in an area where it will be easy to visit medical professionals when needed.

Once you aren't working, you'll also need to find ways to occupy your time. Ideally, you'll be able to find a final home in a place that offers easy access to your hobbies. For example, you may want to be near a golf course if you love to golf or near a university if you want to take classes once you are retired and have time on your hands.

You may also want to look for an area where there are a large number of seniors so you can make friends more easily.

4. An affordable monthly payment

Finally, another crucial consideration is the cost of your home. Many seniors are on a fixed income and you don't want to be sending your entire Social Security check to your mortgage lender or to the property tax collector.

Decide on how large your housing budget can comfortably be while covering all of your other costs and look for properties within this price range. Be careful not to overspend or you could drain your nest egg too quickly and find that your house becomes totally unaffordable.

By taking these four features into account, you can hopefully find the perfect property that you will comfortably be able to stay in for the rest of your life.

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