Making the Decision
To Move or Stay Put in Later Life - What You Need to Consider
Moving home in later life is a big decision and one that should not be taken lightly. There are pros and cons to both staying in your current home and moving to a new one.
In this post, we’ll explore some of the factors that you should consider when making this decision, and provide a helpful checklist to help you think through your options.
Staying in your current home
If you’ve lived in your home for a long time, you may feel attached to it and be reluctant to leave. There are also practical benefits to staying put, such as not having to pay estate agent fees or stamp duty. You may also have made modifications to your home to make it safer and more accessible, and moving to a new property could mean starting from scratch.
On the other hand, staying in your current home can also limit your ability to live life to the fullest. Your home may not be suitable for your needs as you age, and you may not have access to the support you need if you fall ill or become less mobile.
Moving to a new home
Moving to a new home in later life can be a great way to start a new chapter, and can provide opportunities for new experiences and adventures. You may be able to downsize and reduce your living costs, or you may choose to move to a location that’s better suited to your needs.
Moving to a new home in later life can be a great way to start a new chapter, and can provide opportunities for new experiences and adventures. You may be able to downsize and reduce your living costs, or you may choose to move to a location that’s better suited to your needs. However, moving to a new home can also be a stressful experience. You’ll need to think about the practicalities of moving, such as finding a new property, selling your current home, and arranging removals. You’ll also need to think about how you’ll adjust to your new surroundings and whether you’ll be able to make new friends and social connections.
Checklist for deciding whether to move or stay:
- Consider your health and mobility Do you need a home that’s more accessible or more suited to your needs?
- Think about your current home and the modifications you’ve made to it. Are you happy to leave these behind, or do you want to take them with you?
- Think about your financial situation.Can you afford to move to a new home, or would you prefer to stay put and reduce your costs? Check out our calculator to help you through this.
- Consider your social life. Do you have a strong network of friends and family where you currently live, or would you like to move to a location where you can make new connections?
- Think about your personal preferencesDo you prefer a more rural or a more urban lifestyle? Do you enjoy peace and quiet or are you looking for a more vibrant community?
- Consider the practicalities of movingDo you have the energy and resources to move to a new home, or would you prefer to stay where you are?
In conclusion, the decision of whether to move or stay in your home in later life is a personal one and will depend on your individual circumstances and priorities. Use this checklist and our self assessment quiz to help you think through your options and make the best decision for you.
Remember, there’s no right or wrong answer – it’s about finding the option that’s best for you and your family.