Maybe you are downsizing. Maybe you simply want a change of scene. Regardless, you are in good company if you want to move to a different home at some point during your retirement — even if that home is out of state.
In some ways, this might be an easier move than it would have been if you were still working. In others, it might be more of a challenge.
The easy parts
When thinking about something as complicated and impactful as moving, it can be easy to overlook the good parts. Your biggest advantage in moving as a retiree is probably that you no longer have to be somewhere with convenient access to your place of work.
Your experience is probably another advantage. This is not your first time buying a home, and you might have a better idea of what to expect from the process.
The challenging parts
Many of the challenging parts of moving as a retiree usually have to do with legal or financial matters. You probably have more complex finances than you did when you were younger. You might be on a fixed income or have a state pension, for example. You might even have to consider how estate laws in a new jurisdiction would interact with any obligation to have from previous marriages.
Another major concern for many retirees is tax law. Understanding your new potential tax rates could help you make good real estate decisions and prepare for the future.
Getting the big picture
If you are like many people, retirement is a time to leave out some of your dreams. Working up from the details to get a big picture of an interstate move could be one way to organize your thoughts and make the best decision possible.
