For most Americans, the asset value, of their house, often, represents, their single – biggest, financial asset, so, doesn’t it make sense, for Senior Citizens, to pay keen attention, and consider, how it, might impact, their personal, financial security, into the future! Where, and how, might, one, want to live, and can he afford, to do so? Does one’s existing home, serve his future needs? Will home ownership, become a valuable part, of your personal, American dream, or, will you fail, to address your needs, and personal situation, in a meaningful, well – considered way? There are several considerations, each of us, should take seriously, but, this article will attempt to, consider, examine, review, and discuss, six of these.

1. Age – in – place: For some, they are emotionally – invested, in their home, because of the memories, etc, they experienced, there! Some prefer to age – in – place, and, if, it meets their personal needs, and they can afford it, and able to handle the maintenance/ up – keep, it may make sense, for them, in the bigger – picture! However, since, most, do not, need, the same amount of space (bedrooms, etc), when they retire, as when, they had family, living there, with them.

2. Down – size: Either, for financial reasons, physical ones, or a variety of other reasons, many want, and/ or, need to, down – size! Perhaps, it’s because, the existing house, is too much, to maintain/ take care of, or, you, no longer want to climb steps, and/ or, be responsible for exterior maintenance, etc, this may motivate, proceeding, along this path. Another reason, may be financial, because, the proceeds, from selling your house, and purchasing, a smaller, less expensive one, will, provide you with financial reserves, while reducing costs, taxes, maintenance, and other concerns.

3. Location/ region: Once, one retires, it makes sense, to consider, and evaluate, if, perhaps, there might be benefits, in relocating. These may, include: conveniences; safety; climate; family; etc.

4. Type of community: Would you enjoy, living in a Senior Community (55+), in order to enjoy, social involvements, shared responsibilities, safety and security (gated community), etc? Maintenance, community features, etc, are. relevant factors, to many!

5. Your health/ health issues: Do you have any, health – related, issues, which, might make, relocating, etc, make sense? These, may include, areas, such as: arthritis – related; cardiac; weather – related, etc.

6. Personal finances/ concerns: How will one be able to afford, the uncertainties of the Golden Years, in terms of financial issues, and concerns? Will he be able to afford, comfortably, and enjoyably, living, one place, over, another? Will selling your existing house, make financial sense, in terms of adding to your financial reserves? Will it create, a better sense, of, personal well – being?

Your housing may be your best – friend, or worst enemy! How will you prepare, and proceed? What’s your personal, best course, of action?

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