Before making a major purchase, such as a house, land, or gold, one must consider all aspects, the pros and cons of the product, and whether one needs it that badly. Some people purchase a house post-retirement if they want to move to another town or city for convenience, away from where they may have spent their entire working period. There are other reasons, too. For example, they may want to stay closer to their friends and relatives, or the new place may have better civic amenities, like better roads and hospitals, less pollution, less congestion, children’s career or simply the ease of living and better avenues to pass the time.

Also Read: Navigating Summer Travel: Essential Tips For Elderly Travellers

Here are a few things to consider before purchasing a new house post-retirement

Locality

One must consider the locality before buying a new house. It should suit your budget and preferences. Property prices usually depend on the locality—the better the locality, the higher the price. A neighbourhood with orderly apartment buildings, cleanliness, greenery and aesthetically pleasing will cost you more. While you can’t overlook the locality, you must consider the cost.

Activities

Senior citizens may want to keep themselves busy post-retirement by reading books, socialising, exercising, visiting public parks, etc. So, consider whether the new place has these opportunities while buying a house. Some places have book clubs, parks for yoga, walks, and other exercises, and prospects for meeting friends and extra-curricular activities. Leaving idle and alone after retirement will do no good and could result in mental illnesses as you age.

Proximity from Relatives’ Houses

Living close to relatives and friends has many advantages. They could provide you with moral as well as financial support during a personal crisis or when you need their help. It will enable you to maintain an active social life, which can help prevent problems associated with loneliness. So you can look for a house close to someone you want to be with.

Medical Facility

Living in close proximity to medical facilities is critical for senior citizens, as they are usually prone to health problems and need regular health checkups. So, determine whether the place has good hospitals, public health centres and medical clinics nearby and whether they are affordable. You can usually access these services effortlessly if you move to a retirement home. Therefore, explore all the pros and cons before deciding. You may also take the help of a real estate advisor.

Also Read: Why Are More NRIs Choosing Term Insurance Plans From India? Know Key Benefits

Security

Security is the most important aspect for retirees. Look for a safe neighbourhood. Your housing complex should ideally havea proper security system with guards and watch cameras. It should also have a police station close by in case of an emergency.