58The Retirement GuideSome Factors for Homeowners to Consider�Being a homeowner is essentially a lifestyle decision. There are many ways you can make your money grow besides owning real estate. �You may have needed a large home when your children were young, but do you still �Perhaps you've paid off your mortgage, but the many costs to owning a housepkeep, taxes, heating, utilities, insurancean really add up. �How long do you want to be digging up weeds, raking leaves, and shoveling snowr paying someone else to do these chores Will you be able to afford to pay someone to handle the upkeep when you can no longer do so An apartment or condo with a balcony garden, located next to a beautiful park, could be just as satisfying, and far more manageable. �Are shopping, cooking, cleaning, and doing housework tasks you enjoy If not, moving to a retirement home might liberate time and energy for things you find more rewarding. �Do you plan to travel a lot, or be away from home much Who will look after your house while you're away �Do you want somewhere for your out-of-town family or friends to stay when they visit How often will that be Hotel costs during such visits might be much less than the costs of maintaining a house year round. �Are you counting on people being there who may not be A key factor in your decision to stay in your home may be wanting to remain near a favorite neighbor, but can you be sure your friend will never move away Be realistic about other people's priorities. �If your spouse or partner dies before you do, you may find yourself feeling very isolated living alone in your own home. Plan for this possibility. �If you want to live in your own house, is the one you're in now the best one for your current and future needs Perhaps a
