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What to Consider When Retiring in the Lowcountry

Tuesday, July 25, 2023   /   by Sonya Reiselt

What to Consider When Retiring in the Lowcountry

Looking to buy a home in the Lowcountry for retirement? Beaufort and Hilton Head are among the best places to retire in America because of their beautiful scenery, weather, and spectacular coastal vistas. A growing number of baby boomers are retiring, so the decision to sell and move is becoming more relevant. If you do choose our wonderful area as your retirement home, which we obviously think is a great idea, here some considerations.

The National Association of Exclusive Buyers Agents (NAEBA) recommends considering seven factors when choosing a retirement home.

1. Affordability

“It may be easy enough to purchase your home today but think long-term about your monthly costs. Account for property taxes, insurance, HOA fees, utilities – all the things that will be due whether or not you have a mortgage on the property.”

Is it cheaper to move to a complex or neighborhood with homeowner association fees, or to hire all the contractors you would need to maintain your house and property? How would moving affect your taxes? What is your monthly income or savings going to be like in retirement?

2. Equity

“If you have equity in your current home, you may be able to apply it to the purchase of your next home. Maintaining a healthy amount of home equity gives you a source of emergency funds to tap, via a home equity loan or reverse mortgage.”

Your current home may have enough equity to allow you to buy a Beaufort retirement home with little or no mortgage.

3. Maintenance

“As we age, our tolerance for cleaning gutters, raking leaves and shoveling snow can go right out the window. A condominium with low-maintenance needs can be a literal lifesaver, if your health or physical abilities decline.”

As previously mentioned, would it be better to pay an HOA fee for peace of mind that comes with not having to do maintenance yourself?

4. Security

“Elderly homeowners can be targets for scams or break-ins. Living in a home with security features, such as a manned gate house, resident-only access and a security system can bring peace of mind.”

Think about moving to a place in the Beaufort area that gives you the security you need.

5. Pets

“Renting won’t do if the dog can’t come too! The companionship of pets can provide emotional and physical benefits.”

Ensure that your furry friends will be welcomed where you move. Will there be restrictions or deposits if you rent? That is one main reason to buy a home in the Lowcountry instead of renting. And if you buy a home in the Beaufort area, will it have adequate fencing? How close are quality veterinarians?

6. Mobility

“No one wants to picture themselves in a wheelchair or a walker, but the home layout must be able to accommodate limited mobility.”

When considering the home you're buying, it's essential to think about your future needs. Your health may change as you age, and it's crucial to ensure that your home can adapt accordingly. Consider if the home has multiple floors with stairs that may need adjusting. Additionally, consider whether handrails can be installed for added safety and convenience.

7. Convenience

“Is the new home close to the golf course or to shopping and dining? Do you have amenities within easy walking distance? This can add to home value!”

Will you be close to your family? How close will you be to the things that you want to do?

Evaluating your current house for its ability to adapt with you as you age is crucial for ensuring your comfort in retirement. If you plan to retire in the Lowcountry, we are happy to help you consider the best options for buying a home to fit your needs.  Beaufort and the Lowcountry have many gorgeous 55+ communities to explore. If you're ready to take a look, let's connect. 

Are you buying or selling a home in Beaufort, Bluffton, Hilton Head, Port Royal, Lady's Island, Habersham, Coosaw Point, or Fripp Island? We can help with our full range of home buying and selling services and military relocation! You can use our convenient and powerful home search to find the home of your dreams in the Lowcountry! And check back on our blog every week for informative real estate and local Lowcountry information. Contact us today at 843-321-2158. 

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The Homesfinder Realty Group 208 Carteret St Beaufort, SC 29902
Sonya Reiselt
208 Carteret Street
Beaufort, SC 29902

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