Buying a House November 30, 2018

Buying a Retirement Home in Lane County

People from all over are discovering that buying a retirement home in Lane County is the perfect capstone to a lifetime of work. If you’re seeking a place that offers a superb quality of life for seniors and one of the most enchanting outdoor environments in the Pacific Northwest you should give the Eugene area a close look.

Here are some of the things to consider before purchasing a house in Lane County.

Before you focus on specific things, I recommend that you close your eyes and think about your ideal retirement activities.

  • What kind of retirement do you want?
  • Does your perfect retirement include days spent chatting with friends at a local coffee shop?
  • Do you want to spend hours wearing out your favorite pair of hiking boots?
  • Are you thinking about using a house in Eugene as a home base while you explore the world?

Lane County is one of those magical destinations where almost any kind of retirement is possible.

However, it’ll make househunting much simpler if you have a general idea of what will make you happy as you enter this exciting new stage of life. Once you’ve given what you want your new life to look like some thought, you can begin to focus on some of the specifics of buying a retirement place in the Eugene area.

What Part of Lane County Suits Your Style

buying a retirement home

Where do you want to live? Lane County covers a large amount of land. You can travel from the Pacific Ocean to the Cascade Mountains without leaving our county. From urban areas like Eugene to the fishing haven of Blue River, you never need to settle when there are so many towns that might make your spirit soar.

The key to choosing the area that feeds your spirit is to make sure that you keep the activities that make you happy foremost in your mind throughout the house-hunting process. For example, it’s probably not the wisest decision to purchase a hobby farm in the country if you hope to spend six months a year visiting your family in New York.

What Type of Housing Meets Your Needs

What’s your image of the perfect retirement house? Does your dream home look like a sweet cottage overlooking the Pacific Ocean? Do you want to lock the front door and head out to go backpacking around Southeast Asia? Think about the types of houses that might fit your image of a terrific retirement home.

On the other hand, It’s also helpful to think more about the things that you need in a house than a specific type of home. Many of my clients are surprised at the number of affordable options that come into play when they focus on the things that they need in a house.

Things to ask yourself:

  • Is having a yard important?
  • Do you plan to travel extensively?
  • How large a house do you need?
  • Do you have the energy to maintain a house?
  • Will you drive in the future?

Do keep in mind that you’re looking for a home that will meet your needs as you age. For example, a staircase that might seem like the stuff of dreams could start to feel like you’re tackling Mount Everest a decade from now. Look for things like wide doorways, single story floor plans, and bathroom safety features in your new home.

Don’t forget that you might not drive in the future. It’s a safe decision to locate yourself near public transportation and the amenities that you enjoy.

LTD operates a bus system for the Eugene and Springfield metropolitan areas. Along with the regular bus routes, LTD has rapid transit bus routes to transport riders in downtown Eugene and Springfield. The student population at the University of Oregon in Eugene keeps the public transportation system busy, and it’s a very viable option for seniors.

When it comes down to it, you’re likely deciding between a single family home and a condo. There are advantages and disadvantages to both choices, and the best option for you can come down to factors like lifestyle, budget, and access to services.

How Much Can You Afford To Spend

buying a retirement home

Money stresses are not conducive to a happy retirement. Buying a home that fits into your budget allows you to focus on participating in the activities that give you joy without needing to worry about a big mortgage.

Financial experts recommend that your housing costs stay under 35% of your total monthly income. So, for instance, if you have a fixed monthly income of approximately $5,000, you should strive to keep your housing expenses under $1,750 a month.

The cost of owning a home is more than a monthly mortgage payment. In the excitement of searching for the right place to spend your golden years, it’s critical that you not overlook the cost of pesky things like insurance, property taxes, maintenance, and homeowners’ association dues.

Make an appointment with a knowledgeable financial counselor to figure out a safe housing budget for your retirement home. After you have a ballpark number, you may need to search for a mortgage lender. Here is an excellent article to get you started finding a terrific mortgage lender.

Last thoughts

When it comes to buying a retirement home in Lane County, the possibilities are endless. No matter what type of retirement strikes your fancy, you’re sure to find just the right base from which to embark on all of those activities that you put on the back burner while you worked and raised your family.

I’d love to help you purchase your Lane County home. I believe in taking the time to match each buyer with a home that enhances their quality of life, and you can rely on me to listen to your retirement house goals. Contact me for a caring and professional approach to buying real estate in Lane County.