An industry expert recommends that relocating retirees work with a financial expert, build pro and con lists for all potential markets, and "get past the fantasies and evaluate real life."
That's according to Annette Fuller, editor of the magazine and website Where to Retire. In an interview with The Washington Post, Fuller adds that it is important to consider potential homes for all seasons, “Visit the area during every season to make sure the climate suits you," and pay close attention to climate concerns when calculating affordability, including cost of flood or other insurance the homeowner may need. Fuller wouldn't say that retirees should completely rule out certain markets vulnerable to sea level rise or wildfires, but did say that finding an area with "zero risk is very difficult."
Like many of the 10,000 Baby Boomers hitting retirement age each day, Powers and Gomberg have decided to relocate. After coming close to putting a deposit on a house in Wilmington in the summer, they found a 55-and-over community just 60 minutes from where they live in Fairfax, Va. They’re building a house in Lake Frederick, Va., near the Shenandoah Mountains, and will move there this month.
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