Here in the Philippines, choosing a home for retirement is almost not a problem, since families here stick together through and through. There’s no need to find a new home if you can relocate with your children or better yet, enjoy the house that you’re already living in.
But there are still other options available if you want to buy another property for your retirement. There are many perks after all when it comes to separating from the rest of your family when you face old age. You are helping your family get rid of added financial stress and expenses. And of course, choosing a new home for your retirement means that you have your own space where you can relax and unwind, without minding any responsibilities from other people.
One option that you can consider is independent living. This means that you are not choosing to live with a relative or to a retirement home. Instead, you buy a new home, maybe downsizing to a condominium or an apartment.
Should you consider independent living for retirement? Below are the benefits of choosing this option.
1. A new investment
It’s never too late to have another property to add to your collection. Getting a new property is just another joy to add when you are ready to rest and enjoy life to the fullest.
2. Cheaper cost of living
Downsizing means that you are actually planning on cutting costs. If getting a smaller place means you can cut the cost of your utilities, and then that’s definitely a great idea.
3. Control and independence
Some people do not want to live in a retirement home mainly because they feel that they are too caged and are too controlled by the people who are in the facility. If you think you can still take care of your own during retirement then there’s no reason why independent living is not an option.
But of course, there are still risks when it comes to choosing independent living during your retirement. Of course getting old means that you also have to be carefully taken care of, and living alone or living with a partner who is also facing retirement can make this a risk. The following are just some queries that people have about independent living.
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HOW CAN I MAINTAIN MY HOME?
Of course a worry that many people have about independent living is maintaining the house. Maintaining a house during old age can be hard. You can always opt for getting household help if you think your body can no longer take it.
Another factor to consider in the issue of home maintenance is the structure of the said home. Do not choose a property that’s too steep or has too many stairs because your body might not be able to handle it in the long run.
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HOW ABOUT THE MORTGAGE?
The government offers many great options for senior citizens facing retirement. Both agencies SSS and Pag-ibig have offers that senior citizens can benefit from.
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OTHER DILEMMAS TO FACE?
Insurance, maintenance costs and other catastrophic occurrences are also some factors to consider. The best way is to plan ahead and heed the help of some of your relatives to ensure these minor dilemmas.
If buying a new house or downsizing is not an option, then you can always choose to rent. But then again renting has its own rules that you have to follow. The best way to get the best deal is to find out which type of living do you want when you hit old age.
Whatever your decision is, you can always look for the perfect retirement home on our portal.
Image source: http://www.persquare.com.ph/for-sale/condominium-ncr-metro-manila-quezon-city/condo-in-quezon-city-zinnia-towers-north-edsa-near-sm-nlex-lrt-mrt-2-bedroom_19134 – DMCI Homes
