Does retirement location matter?

When looking to purchase a piece of land or home, the key thing that we usually consider is location. The same applies when planning for your retirement location. Where you decide to live when in retirement matters. Here are some key factors to consider when choosing a location:

Location of your current property

If you currently own a home, it may be difficult to move because it would mean selling it. You may already have an attachment to the home and have invested a lot in it. This is the reason why most people reside in the same place that they have lived in for many years. Owning a home as well means that you do not pay rent which is a plus as it reduces your monthly costs. If you do not own a home yet, you should consider your retirement when choosing a location.

Cost of living

Different places have different costs of living. For example, those who live in a city find that they spend more each day on necessities such as food, water, rent among other things than those who live upcountry.

Environmental quality

The quality of the environment varies as well with the location. The cities tend to be way more polluted than areas away from the city. Air pollution, noise pollution, water impurity and congestion are some of the characteristics of the cities while the inverse applies to areas further from the cities. This is mainly due to an influx of motor vehicles, factories and overpopulation.

Access to quality healthcare

In Kenya, the concentration of quality healthcare facilities is in cities especially the capital city, Nairobi. Though there has been some improvement over the years, we are yet to have easy access to quality healthcare for all. Having this in mind is important as well when choosing a location for your retirement years.

Proximity to friends and family

Your proximity to your friends and family is important as well. In retirement, you have a lot of free time. Spending this free time on your own can be lonely and cause depression. Maintaining a close relationship with your loved ones is important for your mental health. Your partner may be living with you but having time with your friends and other family members is equally important.

Your hobbies

Your pastime activities may as well influence your choice of location. For example, if you spend a lot of time golfing, you may find that moving far away from any golf clubs may not work best for you. If your hobby is farming then you may find that living on a farm would work best for you. Maintaining your hobbies and doing what makes you feel relaxed and happy is important even in retirement. These activities are important as they help keep the mind active.

All these factors are best considered together to see the big picture. Some factors may seem to weigh more than others depending on the individual. Knowing what works best for you will assist in choosing the right retirement location for you.

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