Denver home values rose 15% last year per Zillow and don’t show any sign of slowing this year. Homes are selling in a day, full price or more, multiple offers, cash. This could be the best time to sell!
So, is this the time to relocate? If you were thinking about moving, now might be the best time to take your profits and move. The equity could provide a nice boost to your retirement income if placed well.
The goal is to find a balance between a region that allows you to maintain your financial security and one that doesn’t compromise your quality of life.
As all too many retirees have learned, relocating to save money can be a jolting experience if it takes them far from family and friends. Factor in the cost of traveling to see loved ones if you move to a different part of the country. You don’t want to be so far away that it becomes cost prohibitive to maintain your most important relationships.
Don’t pick up and move without giving a new town a trial run. Rent a place for a few months to make sure you get a true sense of what the community is like. If you have your eye on an area that’s very popular in the winter, spend some time there in summer. Maybe you will love the quiet – or maybe you’ll find it depressing when the high-season action packs up and goes home.
While change and new adventures can be invigorating, make sure wherever you move lets you continue to pursue your favorite hobbies or pastimes. If you are a big opera and symphony fan, moving to the boonies might not be a good fit.
Make sure you’ll have close access to good health care – especially in specialties of particular concern to older people, such as cancer, heart disease and general geriatric care.