One of the biggest and the most difficult decisions of someone's life is to buy that retirement home. Although it may sound simple, there are many things to consider before making this decision; especially when you are deciding years before retirement. It is important to be able to foresee the future and make a smart decision considering all the possible retirement requirements.

We have listed 5 biggest mistakes people make while making this decision and how to avoid them.

No Prior Planning:

Many people do not prioritize what they want to do after they retire. Retirement means a lot of time to kill every day, and you need to make sure that you are engaged in activities you like. If you like to golf, it is wiser to buy a house near a golf course rather than one which is far off. Do some research, talk to your partner and find out what interests you, find places and localities which suits your interests, and then you can consider buying a house there.

Investing too Much on a House:

Yes, you want to live in luxury after retirement, but you also need to be practical as after retirement, income stops, and you got to live off your savings for many years to come. Paying a high mortgage can become a financial burden to you.

Forgetting Friends and a Social Network:

When you are working, you may not visit your friends much, but after retirement you should be surrounded by your friends. Planning to buy your house in a neighbourhood where you are new would be the biggest mistake. Talk to your friends and plan to buy houses in the same locality so that you can enjoy each other's company in your retirement days.

Not Paying Attention to Insurance:

Many people forget about the grey days and are not well prepared for it. You need to be absolutely sure to cover yourself with health insurance and also property insurance. Do the same for your spouse as you may need medical assistance with passing years and the bills can really pile up if you are not covered?

Assuming that you will drive forever:

Many seniors do not consider that they may find it difficult to drive long distances for amenities or health care. Seniors need to realize that settling in a remote place will become a big hassle in the future. It is always good to be in a place surrounded by basic amenities, friendly people, hospitals, transport, cultural activities, etc. Such facilities will be available in metro areas of the city, but those areas can become too crowded and you may be faced with dealing with traffic issues. You will definitely not feel at peace though you will get all the facilities. Another great option which we highly recommend every individual to consider for their retirement days is to settle in a retirement living community such as The Villages Florida which provides all these above-specified amenities along with a place where you will find other senior families as your neighbours hence a better social life and you will also be far away from city hassle.

You need to fulfil your expenses today, but you also need to make sure to plan your future and find a community which meets your future needs and retirement lifestyle expectations.