Even people who have been buying and selling homes for many years can still make mistakes, and one thing that needs to be done correctly is buying the home that is intended to be your last. It can be difficult to let go of the family home at times – cherished as it is by so many – but sentimentality often has to give way to practicality. As the occupants grow older, a big family home often simply becomes unmanageable.
Older householders can have many reasons for wanting to move and there is no such thing as a typical last-time buyer. Some people may actually want a bigger house simply because they can now afford it; for others, their relocation may be about being closer to their grandchildren. Some older people choose to downsize so that they will be able to release some of their equity, while the lower running costs of a much smaller home can be motivation enough for others.
Seniors who have issues with mobility can also be attracted to apartments or to small retirement flats situated in buildings equipped with lifts. Whatever the reasons for the final move, you need to consider all of your options. One good tip is not over-stretch yourself. This might sound obvious, but this does happen quite a lot with a final house purchase. Downsizing is something seriously worth considering; if you really do intend this to be your last move, a smaller home is easier to maintain if you become frail or suffer from illnesses as you get older.