Aging in place is something that most people strive for. Remaining in your own home as you grow older gives you the freedom and autonomy that you are searching for. Since your needs will change as you enter retirement and move toward becoming a senior citizen, it can be helpful to sell your family home and invest in a property better suited for your golden years.

Select the perfect property by keeping these important factors in mind.

1. Location

When it comes to real estate, location is everything. The area in which your retirement home is located can play a critical role in the convenience and accessibility of the property over time.

As you age, you probably will find yourself driving less and less. Ensure that the amenities you utilize on a regular basis (like grocery stores, doctors' offices, and pharmacies) are located nearby. Having these amenities close will add to the convenience of your daily routine as you grow older.

2. Floor Plan

The right floor plan can have a significant impact on the safety and accessibility of your future home. You will want a property that doesn't have a lot of stairs. Ranch-style ramblers that feature single-level living eliminate the potential threat of falling down the stairs as your coordination and strength wane.

You should also look for a property that features an open floor plan. An open kitchen, dining room, and living room will maximize the amount of space available to entertain your family for holidays and special events.

3. Cost

Retirees must learn to live on a more limited budget than they did when both spouses were working. Income reductions associated with retirement make it even more important than usual to carefully consider the costs associated with purchasing a new home.

You don't want a property that is so expensive you will have to continue working to make the mortgage payments. You also don't want a property that is too old and will be in need of costly repair and maintenance over time. Speak with a financial advisor to determine how a new home will fit into your retirement plans so that you can establish a realistic budget as you search for your future home.

Buying a home as a retiree presents unique challenges. Keep your specific needs in mind as you search for a home that will allow you to age comfortably and safely within your own living space. For more information on finding houses for sale near you, contact your local realtor.