Retired in America

Your Guide to a Confident Retirement

  • Home
  • Personal finance
  • Retirement Life
  • Saving & Spending

13 Things Worth-Knowing if You Buy a House After 50

September 17, 2021 · Retirement Life
Photo by Robert Kneschke from Shutterstock

Retirement can be an amazing time, where you finally get to feel that peace and serenity you always wished for, alongside traveling, entertainment and new friendships. But as all of these seem to unfold, there’s another question that pops in the minds of many: where am I gonna live?

Am I still gonna be in this 2-floor house where I raised my kids? Or am I ready to move into a smaller place, and closer to my daily activity places? Whatever the question and the answer, there are many things to consider when deciding to buy a new home after 50. Let’s walk together through some ideas.

  • The real estate footprint –  Marc Hernandez, a global real estate advisor with Douglas Elliman of Beverly Hills, says that buyers over 50 or 60 years old aren’t so preoccupied with their real estate footprint when buying a home. At this particular stage of life, the kids have grown, the income potential has peaked, and larger living spaces aren’t a must anymore.
  • Your living arrangement – Prepare, because there are many beliefs baby-boomers are about to surprise us. As some say, the type of properties buyers wanted at the beginning of their cycle won’t be very different from the ones we’re about to see at the end of it. This being said, alternative living arrangements might include moving back with family, or to a college campus, or even considering some roommates.
  • Indoor vs. Outdoor space – The ratio of interior space is important for older home buyers. While younger buyers prefer a large home in a smaller lot, old buyers prefer to purchase a home that has a large garden: they take into consideration morning walks, gardening and other leisure activities.
  • Condos vs. larger homes – As we said before, some might enjoy gardening and other outdoor activities in retirement, but others are likely fed up with those. Even more, they may prefer the transition to a place with less yard space, and more amenities that are taken care of for them.
  • Walkability – Unlike other periods in life, retirees don’t want to consider living too far away from restaurants, retail, and other everyday destinations in the city. That’s why walkability gets prioritized when deciding to purchase a new home.
  • One-story homes – Retirees are anticipating mobility issues as they get older, so for someone that wants to purchase a new home, the most important criteria is a one-story home. It’s another way of saying that people are taking steps in order to avoid…steps.
  • The passive income effect – Many retirees are relying on a passive income, whether it’s a rental income or earnings from a business they’re not any longer involved. In any of these cases, when they apply for a loan, it is required a larger down payment if the funds are coming from a passive income. So just to be sure, you should put down 35%, instead of 20%.
  • How much mortgage you afford – A good strategy is to make sure that your monthly payment is no more than 25% of your monthly budget. It’s better than to own a house and have no money left for any other expenses.
  • Location is very important- Location is extremely important when you use it as an income property, or you want to leave it to your children or to use it as a vacation home and rent out part-time. It doesn’t have to be extravagant but focus on something where people can feel at home.
  • Children staying or moving? – Many Millenials are forced to move back with their parents, because of poor wages, high housing costs or neverending student debts. That’s why some baby boomers might take into consideration the family dynamic before deciding on a new home.
  • Best places to retire – Another question that’s worth asking is where you decide to retire? Seniors that are trying to lower their tax burden might consider Florida, Mississippi, South Dakota, Wyoming, or Alaska. There are many affordable places to retire all across America if you know what you’re looking for.
  • Access to health care – The top five locations for senior health care are Hawaii, Minnesota, Massachusetts, Colorado, and South Dakota.
  • An all-time investment – No matter the age, real estate is a good investment. And even so, more important than the age of acquisition is the condition, the price and the location.

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • A retired man sits at a sunlit wooden table thoughtfully reviewing an official Social Security envelope next to his reading glasses. 9 Social Security Notices You Should Never Throw Away
  • An older woman sits thoughtfully at a sunlit kitchen table next to a folder of documents and a vintage family photo. 10 Things Families Need to Know About the $255 Death Benefit
  • An elegant watercolor and ink illustration of a peaceful retirement pathway with subtle red warning flags and a magnifying glass. 10 Financial Red Flags Retirees Should Never Ignore
  • 10 Things Teachers Should Know About Their Pension Before Retiring 10 Things Teachers Should Know About Their Pension Before Retiring
  • Watercolor illustration of an elderly woman sitting peacefully in her sunlit living room near an open window. What the New SSI Program Improvements Mean for Recipients
  • An ink and watercolor illustration of a rising block graph representing lifetime earnings building a path toward retirement. Why the Social Security Formula Rewards Longer Careers
  • A retired man at his kitchen table reviewing a Social Security denial letter in soft morning light. The Social Security Appeal Process Explained Step by Step
  • A senior couple sits at a sunlit wooden table reviewing their credit card benefits over morning coffee. The Credit Card Perks Retirees Overlook Every Single Month
  • An older couple in a cozy living room reviews a bank statement with a magnifying glass as paper money-airplanes float up. 10 Subscription Services Retirees Are Cancelling to Save Money
  • A female retiree sitting at her sunlit dining table with a health planner and pen, reflecting on her retirement healthcare plan. The Medicare Preventive Services Most Retirees Never Use

Newsletter

Get retirement planning tips, savings strategies, and lifestyle insights delivered to your inbox.

Related Articles

A senior couple reviews financial plans on a tablet in a bright, modern kitchen.

11 Social Security Mistakes That Could Ruin Your Retirement

Discover the most critical Social Security claiming mistakes, from triggering the earnings penalty to miscalculating…

Read More →
An active senior couple stands on a scenic overlook during a golden sunrise.

10 Best States for Retirees to Settle Down

Discover the 10 best states for retirees based on tax efficiency, healthcare access, and affordability…

Read More →

11 Countries to Retire Where $150K Is More Than Enough

In 2020, American retirees were collecting an average monthly Social Security payment of $1,503, which…

Read More →

Top 20 Affordable Cities for Retirees in 2020

Having enough financial flexibility is every senior’s dream. After years of work, who wouldn’t want…

Read More →
A panoramic view of the twin crater lakes of Sete Cidades in the Azores, featuring one blue and one green lake surrounded by lush green hill

9 Scenic (and Cheap) Destinations That Rarely Disappoint

Discover nine scenic and affordable travel destinations perfect for retirees, featuring hidden gems that maximize…

Read More →

13 Overlooked Locations for Retirement in the U.S.

Discover 13 underrated retirement cities in the U.S. that offer exceptional healthcare, affordable living, and…

Read More →

30 Expensive Cities Retiree’s Will Want To Avoid

Lots of seniors are opting now to move to another city once they hit retirement…

Read More →
An older couple stands on their porch during sunset, looking at a moving truck parked in their driveway.

Retirees Regret Choosing These 5 States (Based on Cost and Lifestyle)

Discover why retirees frequently regret relocating to states like Florida, California, and Arizona due to…

Read More →

20 Amazing Ways to Live Life to The Fullest When You Retire

The best part about retiring? Doing everything you want to do without the worry of…

Read More →
Retired in America

Your Guide to a Confident Retirement

Inedit Agency S.R.L.
Bucharest, Romania

contact@retiredinamerica.com

Trust & Legal

About Us

Editorial Policy

Advertiser Disclosure

Frequently Asked Questions

Contact Us

Disclaimer

Terms and Conditions

Privacy Policy

Subscribe

Unsubscribe

Categories

  • Personal finance
  • Retirement Life
  • Saving & Spending

© 2026 Retired in America. All rights reserved.