What to consider if you’re planning to move away in retirement
Retirement is a time for new beginnings, and for many, that includes a change of scenery. Moving away in retirement can be an exciting adventure, but it also comes with a lot of considerations. Whether you’re looking for a quieter countryside life, seeking warmer weather, or simply downsizing, making the right choice is crucial for a happy and fulfilling retirement. In this blog, we’ll explore some key factors to consider when planning your retirement move.
Location, Location, Location
The first and most critical decision when considering a retirement move is where to go. Think about your lifestyle preferences, climate preferences, and proximity to family and friends. Here are some questions to help you narrow down your options:
- Do you want to stay relatively close to family and friends, or are you open to moving to a new region or even a different country?
- What kind of climate do you prefer? Some retirees seek warmer climates, while others prefer cooler, four-season destinations.
- Are you interested in urban living, a small town, or a rural area?
- Consider your hobbies and interests; does the location offer activities and amenities that align with your passions?
Looking for more tips on choosing a location? Read our article ‘How to choose where you should retire’.
Cost of living
Understanding the cost of living in your prospective retirement location is crucial for financial planning. Different regions have varying costs for housing, groceries, healthcare, and taxes. Research the following:
- Housing costs: Are homes affordable, or will you need to downsize? Remember to consider things like strata fees and the cost of utilities.
- Groceries: When considering the cost of living, it’s important to factor in grocery expenses, as they can significantly impact your monthly budget in retirement.
- Healthcare: Assess the quality and accessibility of healthcare facilities in your chosen area, as well as the cost of healthcare services.
Lifestyle and amenities
Consider the lifestyle and amenities available in your prospective retirement destination. Does the area have the cultural activities, recreational opportunities, and services you desire? Some factors to examine include:
- Access to healthcare services, including hospitals and specialists.
- Proximity to shopping centres, restaurants, recreational and entertainment options.
- Availability of outdoor activities like hiking, golfing, or boating.
- Opportunities for social engagement, like clubs, classes, or volunteer opportunities.
At St Ives, we’re all about creating a better retirement experience. That’s why you’ll find an impressive range of amenities at each of our 8 unique villages. From clubhouses and restaurants, to craft centres and gyms, they offer everything you need to fill your day.
Safety and healthcare
Safety and healthcare access become increasingly important as you age. Research the following:
- Crime rates and safety statistics in the area you’re considering.
- Availability of healthcare providers, especially specialists and geriatric care.
- Access to long-term care facilities or services if needed.
At St Ives, you’ll benefit from living in a safe and supportive environment, where you’ll be surrounded by like-minded people.
Your social network
Moving away in retirement can be both exciting and isolating. Consider how your move will affect your social network. Will you be leaving behind close friends and family? While the allure of a new environment, lower living costs, or exciting adventures may be appealing, it’s essential to weigh these against the bonds and relationships you’ve nurtured over the years. Moving away can strain the precious connections with your children and grandchildren, as physical distance can often translate into emotional distance. Before making the decision to move away, you should explore ways to maintain and strengthen these connections even as you embark on your retirement journey.
You should also consider whether or not you will have the opportunity to meet new people and build a social circle in your new location. It’s essential to have a plan for maintaining and expanding your social connections in retirement.
Read our article ‘Dating and making friends in retirement’ for advice on fostering connection in retirement.
Transportation and accessibility
Think about how you’ll get around in your new location, especially if you no longer want to rely on driving. Consider the availability of public transportation, walkability, and proximity to airports or train stations. Easy access to essential services and amenities can enhance your retirement experience.
Start planning your retirement
Moving away in retirement is a significant life change that requires careful planning and consideration. By thinking about your location, cost of living, lifestyle preferences, safety, healthcare access, social network, and transportation, you can make an informed decision that will lead to a fulfilling and enjoyable retirement. Remember that there’s no one-size-fits-all answer, so take your time, do your research, and choose the place that aligns best with your retirement dreams and goals.
If you’re planning a move, consider joining the St Ives community. In our villages, you’ll be surrounded by the things that make you happy. Enquire now!