Retiring: planning your next chapter

Define the next chapter

Retirement can mean a smaller home, a warmer climate, a walkable town or a house near your chosen family. Decide what you want most, then rank the rest. Our guide to choosing a neighborhood works for retirees too.

Compare communities, not just houses

A 55-plus community comes with rules, fees and a culture of its own. Ask for the association documents early. Attend an event as a guest. Ask current residents what they like and what they would change.

• What do monthly fees cover, and how have they changed over time?
• Is there a pathway to additional care if you need it later?
• How easy is it to rent, sell or pass the home to heirs?

Make downsizing less daunting

Start with one room and a rule of thumb: if you have not used it in a year, it goes. Many agents partner with movers, estate sale companies and organizers who handle the heavy lifting with care.

Think about taxes and timing

Selling a long-held home may have tax consequences. Talk with a tax professional before listing. Your agent can introduce advisors who work with long-time owners.