Living at home has its advantages and disadvantages. A retiree should consider the pros and cons before deciding where to spend his or her retirement. Whether it is best to live at home or in a retirement community depends on a person’s finances, health and other factors. A lot also depends on what a person enjoys doing. Some people find living in a retirement community to be enjoyable and relaxing. Other retirees do not enjoy living with a lot of other people. In some cases a person’s finances may dictate where he or she can or cannot retire. Each situation is different.
The Advantages to Living at Home
There are many advantages to living at your own house. In many instances, it is cheaper to live at home. However, the main advantage to living in your own home is the freedom and privacy that this provides.
A retiree living at his or her own house can invite friends and family over to the house at any time he or she chooses. One can even have a friend or family member spend the night or stay in the house for some time.
A retiree living in his or her own home will be able to make the food that he or she wants to eat. A retiree living at its home will also have more privacy.
The Disadvantages to Living at Home
There are disadvantages to living at your own house. Many retirees have medical problems that require attention.
It has been estimated that a retiree will spend at least $5,000 a year on medical bills, and this figure does not include over the counter medications and dental work.
Most retirement communities provide some sort of health care for those living in the community.
Living in a retirement community can help to offset the costs of medical care.
A person living in a retirement community will often discover that life is a lot simpler. A retiree will not have to worry about fixing broken appliances, plumbing or wiring. He or she will also not have to cook. Transportation is usually provided by most retirement communities. This can make it easy for a retiree who cannot drive to get around.
Retirement communities are a great place to live for a person who enjoys human companionship. In a retirement community, there are people around all the time. Most retirement communities also organize activities for their residents on a regular basis.
There are advantages and disadvantages to living at your own home. Whether the advantages outweigh the disadvantages is hard to say. A lot depends on a person’s health, likes, dislikes and financial status. The cost of living on one’s own may be lower or higher than the cost of living in a retirement home.
A retiree should take the time to consider the pros and cons of each option. One may even want to check out a number of retirement communities and see what they cost and what they provide. It is important for a retiree to make a well informed decision regarding where he or she will live.
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