Buying a new home at any age can be an exciting, yet daunting, endeavor. Seniors looking for a retirement property in Escondido don’t have to approach the process alone. A qualified real estate agent can ensure you see the properties that meet your needs and consider important factors you might not have thought of. Here are just some things seniors may want to mull over when shopping for a new home in Escondido.
Managing Your Retirement Budget
However you’re set for retirement, you may be dealing with a more limited income or want to stretch your funds across many years. Housing and living costs in Escondido are high when compared to national averages, but median home prices are around $50,000 less than the state average. The cost of living index in the area is also around 7 points lower than in San Diego as a whole, making neighborhoods in Escondido a budget-friendly place for seniors who want to remain in the metro area.
Another money matter to consider when buying a home is property tax. California’s Prop 60/90 ensures that homeowners age 55 or older at the time an original property is sold can transfer property tax benefits, including exemptions, to a new home. The new home has to be equal or less in value to your previous property, but this is good news for seniors who want to downsize into a retirement property in Escondido without losing homeowner’s or disabled vet exemptions.
Supporting Leisure During Retirement
Choosing an area that supports entertainment and leisure options during retirement is important for seniors who want to stay active. Escondido and the surrounding area is home to more than a dozen green spaces and parks, including Maple Street Plaza and Heritage Garden, where seniors can enjoy exercise on warm days. With an annual average temperature of 65 degrees F, the area has a lot of those. Seniors who enjoy spending time outdoors may want to choose homes in neighborhoods that are walkable or near these parks.
The entire San Diego metro area is ranked as one of the most playful cities, and the fun doesn’t stop just because you’re retired. If you want to take advantage of all that the metro area has to offer but aren’t into driving in city traffic, consider homes convenient to public transportation stations. With Breeze buses stopping every few blocks in the city, that’s not hard to do.
Choosing the Right Home
After narrowing down where you want to live, make sure you choose a home that supports how you want to live. Seniors may want to consider accessibility options and future mobility and assistance needs when downsizing or buying a retirement property. That potentially means looking at single-level homes or two-story homes that support a stair lift. You might also look for bathrooms with walk-in showers and safety rails (or the ability to upgrade rooms easily in the future).
Maintenance and upkeep should always be a consideration when buying a home. Luckily for seniors house hunting in Escondido, winter weather isn’t going to require a lot of laborious work. But extended growing seasons do mean time (or money) spent keeping lawns in shape, and home ownership also means maintenance obligations for appliances, roofing, and other functional and aesthetic aspects. You might want to choose a home that requires minimal repair or upkeep, especially if you’re not sure you’ll be physically able to attend to matters yourself.
If you’re looking for a retirement living option that doesn’t come with any maintenance, you might consider one of the many assisted living communities located around Escondido.
Whatever you’re looking for in a new home, an experienced Escondido real estate agent can help you find a solution that meets your location, functionality and budget needs.