The Dallas Morning News
It might not be easy to come back
You might find it surprising, but when seniors tell me they are thinking about moving away, I always remind them that it might not be easy to come back. Nevertheless, depending on one’s personal and financial situations, there are many cases where moving away makes good sense and is the best option.
I generally advise anyone who has recently lost a spouse to wait a year or consult with other family members before signing a listing agreement or agreement of sale. Times of grief and mourning are not usually the times we are thinking straight and up on our feet, so give yourself some time to get through such a major life change before jumping into uncharted waters. Also, not everyone is fortunate to have a great family or a caring, unselfish financial adviser to guide the process, so just be cautious of not falling into the wrong hands.
Relocating can make good sense for people when it is well-planned out. Some recent examples that I looked to favorably were a recently widowed lady in her 80s relocating to live with her divorced daughter in Bend, Oregon. This made sense because her daughter was ready, willing and able to commit to caring for her mom for as long as her mom would live. In another recent case, a couple who sold their successful business decided they were fed up with Los Angeles traffic and purchased a home directly on a golf course in Palm Desert. Their plans are to travel in the summer and play golf the rest of the year, with no intentions of coming back to LA.
People who have doctor commitments in a certain location and do not want to re-establish doctor relationships, as well as those who have family in a certain location, are less motivated to leave, though it can be tempting to buy, say, a beautiful brand-new home in Las Vegas for under $600,000. The question is: Will you continue to be happy there when your family and friends are all back home?
There are many wonderful places to move. Clients of mine have done everything from moving to Italy, France or Spain to purchasing a motor home and touring the USA for two years before establishing a new home somewhere. Life is an adventure, and why not live your dream?
As a caring person and cautious real estate adviser, I simply suggest thinking everything through carefully, and maybe even leasing out your home for a year or two, before giving up your free “return pass” and then regretting on your decision.
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