Senior Citizen First Time Home Buyer Checklist
 

Senior Citizen First Time Home Buyer Checklist

07-Apr-2017
 

More often than not, real estate developers aim to lure young individuals to invest in their properties by providing all sorts of modern amenities like fitness center, Jacuzzi in the restroom and many others. However, many real estate developers today are aiming at developing properties for senior citizens who intend on purchasing a home after retired life or a couple of years before retirement.

Senior Citizen First Time Home Buyer Checklist

This blog titled, Senior Citizen First Time Home Buyer Checklist lists out a few points that senior citizens must look for prior to purchasing a home.

Cost

For senior citizens, it is vital to keep in mind the budget criteria before investing money in buying a house. Financial institutions provide loans when one has a consistent circulation of revenue, however, for senior citizens, they are mainly depended on a pension plan. Only look at properties that you can manage financially. You shouldn’t be taking extra financial burdens to invest in a retirement home. Look for homes that are affordable and has all the quality aspects in check.

Dimensions of the property

Look for small to medium sized properties. There are many real estate developers who provide great value for money options for their medium sized properties. If you are ultra-rich and can afford to buy a luxurious house and employ people to ensure its overall maintenance, then go for it. If not, it would be wise to invest in a medium sized home so that it is a manageable proposition for you in terms of its upkeep.

Safety

Some home builders give bar doors at the entryway as well as support handles throughout halls and also washrooms to reduce the mishaps that take place. Keep in mind such aspects to ensure that accidents do not happen.

Transport

Travelling can be a hassle. For senior citizens, it would be ideal to invest in a property that is in close proximity to vital healthcare institutions and other important facilities that can be accessed easily for everyday purposes.

Lifts/elevators

While walking is good for health, it may not be apt for senior citizens that don't have elevators or lifts in their apartment. Make sure that you only invest in an apartment project if it has elevators/lifts to assist you. This should be stressed even further for those individuals who suffer from certain heart ailments or other health issues.

Dedicated Open Spaces

As senior citizens spend most of their time indoors, it would be a refreshing experience to step out and socialize in dedicated open spaces that are part of the overall community. If you have sufficient budget at your disposal, then look for community living projects that provide such a feature.

Serene Locale

Youngsters can handle the hustle and bustle of a city. The same cannot be said for senior citizens. If you are looking to invest in a retirement home, then make sure that you choose an area that is a bit away from the city and located at a pristine and pollution free environment. It would further assist you in having the peace of mind that you are looking for by owning a home.

Hope this blog on Senior Citizen First Time Home Buyer Checklist was of help. If you are looking to invest in unique and affordable retirement villas in Palakkad, Thrissur or Coimbatore then do to contact our representatives.

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