Moving Closer to Your Children: What You Need to Know

By Sharon Wagner Guest writer

As an empty nester, you’ve likely been dreaming of the day you could move closer to your children and their families. Now that this dream can become a reality, it’s important to do your research before making any big moves. Here are some tips from REALTOR Michele Francine to consider as you make this transition.

Discover the Neighborhood

Before committing to anything, it’s important to visit the area where you want to live. Take a few days or even a week-long vacation and explore the area. This will give you a better feel for what living in Santa Monica would be like daily.

Ask the Residents

Once you find an area that interests you, take some time to talk with locals about their experience living there. Ask questions such as how they feel about the community or what they like or don't like about living there. This will help give you an idea of whether this would be a good fit for your lifestyle.

Virtual Tours

These days, technology has made house hunting much easier than ever before. Make use of virtual tours so that you can get an idea of what properties are out there without having to physically visit them first. This way, when it comes time for an in-person tour, you can narrow down your list so that it doesn't become overwhelming.

Create a Budget

Moving close to family members and grandchildren is a major life decision that should not be taken lightly. Before committing, it is wise to create a realistic budget that accounts for every expense such as rent or mortgage payments, utilities, groceries, etc. This will ensure that you are able to comfortably afford whatever property you finally decide on.

Invest in Senior Safety Features

When looking for a new home near family, it is important to consider the senior safety features that may be beneficial in the long run. Handrails on stairs are an example of such a feature that can provide peace of mind, knowing they are already taken care of should they ever be needed. Installing these features ahead of time can save time and money without compromising safety.

Consider Renting

Renting a house or apartment can be a great option for seniors who wish to remain close to family and don't feel ready to buy a home. Many apartment complexes offer programs specifically tailored for seniors, making sure their needs are taken into account when it comes to rental agreements. Don't forget to research all of your options before making any decisions.

Side Hustle and LLC

You may also consider starting a side hustle by forming an LLC around one of your passions such as baking. Doing so not only provides extra income but also offers something fun and rewarding during retirement years. Plus getting involved in something creative can help keep boredom at bay during this busy transitionary period.

Moving closer to one's children during retirement can be a great way to make the most of the golden years. It is an opportunity for meaningful connections and warm memories but should not be taken lightly. Take time to do proper research on potential areas and explore rental offerings. Consider starting up a side hustle based on your passions to bring in extra income. These tips can help you feel more at ease as you prepare for this exciting new chapter.

For help finding your ideal home in Santa Monica, contact Michele Francine today!