With its fresh air, abundant outdoor spaces and scenic views, Denver is a perfect city for retirees. In fact, U.S. News ranks Denver among the top 50 best places to retire in America. Living in Denver is an adventure that is not to be missed.
Ready to start house hunting for your retirement? Below you’ll find a few tips you should keep in mind during your journey:
Review the Financial Implications of Living in Denver
Before you buy a house in Denver, you should take the time to plan your overall budget for living in the city. Your real estate agent can help you with this planning.
Denver is one of the more expensive places you can live, but there is a certain cost of living nuance that works in favor of retirees. SmartAsset ranks Colorado among the tax-friendly states for retirees. This is mostly based on the state system of exempting retirement income from taxation. Additionally, groceries and medications are exempt from sales tax in Colorado. This can lead to big cost savings for retirees in the state annually. You can keep more of what you earn in your pocket to spend on the things you want and need – including a mortgage in a nice home.
Think About What You’ll Need to Look for in a Home
In the ideal scenario, the home you buy in your retirement will be one that is appropriate for you in years to come. Your real estate agent is the key to ensuring this is possible for you. He or she can help you target homes that have everything you need. Things like wide hallways, power outlets that are situated low, entryways without any steps and showers with grab bars are some of the amenities that can help ensure you are able to safely age in place.
Review Other Retiree-Friendly Living Options
If during the house hunting process, you decide you don’t want to own a home, you’ll be happy to hear there are plenty of great senior living options in the Denver area.
If you are still capable of living independently, you can consider moving into an active adult living community. A senior living community for active seniors is ideal for people who want to live on their own in a home but don’t want to take care of the more annoying responsibilities that come with homeownership – namely lawn maintenance, snow removal, and roofing repairs. You can also benefit from the organized social activities and luxury amenities that many senior living communities offer. They provide great opportunities to make new friends in your Golden Years.
Your long-term health and mobility should also be considered – if you think you’ll require assistance with certain health maintenance activities, or even just getting around your living space safely, you could consider choosing an assisted living facility. There are many top-rated communities in Denver, and the people employed at these facilities are trained to help you manage your major activities of daily living – including getting dressed, taking a shower and keeping your medications in order, to name a few.
Leverage the Expertise of Your Real Estate Agent
The key to a successful house hunting experience is having a reliable and knowledgeable real estate agent by your side. You’ll want to make sure any real estate agent you choose has experience helping retiree homeowners find the right houses for them. You’ll also want to make sure you feel totally comfortable and open with your real estate agent to ensure all your wants, needs and preferences are properly communicated.
Contact BSW Real Estate today to get started on your house hunting journey in Denver. BSW Real Estate’s mission is to empower people through creativity, knowledge, and fidelity to live the life they choose. We use these guiding principles to ensure our value-first approach to our agents, our staff, and to the general public.