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Rightsizing for Retirement: A Guide to Downsizing Your Home and Upsizing Your Lifestyle.

Updated: Dec 15, 2023

Looking for a new home for retirement? It is best to do a lot of research about your target cities. Luckily, if Portland is on top of your list, you can expect to see mostly great things and life in the city.

According to a ranking report from MagnifyMoney, Portland is #1 on the list of best retirement destinations for seniors in America. The rankings are based on an analysis of four major categories: assisted care availability and quality; medical quality and cost; cost of living and lifestyle. Additionally, a ranking from US News placed Portland, Oregon at number 6 on the list of the top 125 cities in the U.S. This high ranking means the city scored high marks in value, overall desirability, job market and quality of life. As a bonus, Portland has a notably lower crime rate than other similarly sized metropolitan areas, which means you can enjoy city life safely.

Choosing to retire in Portland, Oregon is really a no-brainer.  Ready to start your house hunting journey? Here are a few tips to keep in mind to ensure the process is as smooth and enjoyable as possible:

1. Carefully Plan Your Portland Retirement Budget:

Coming up with a realistic budget for your retirement is one of the most important items on your to-do list.  You will want to review your finances carefully to have a good idea about your budget before you have your heart set on a particular house or other living option.

Thankfully, Portland is very affordable for retirees. If you’re considering moving to Portland, your wallet will thank you. Oregon is considered to be tax-friendly for retirees - as there is no sales tax in the state or social security income tax. Public and private pension incomes are only partially taxed, meaning retirees can keep more money in their pockets to spend on whatever they choose.

Another thing to keep in mind is that, as a senior, you may qualify for a tax break on your property, As a homebuyer, you may qualify for a property tax deferral after five years of living in your house. Your real estate agent can help you learn more about your eligibility and whether this program is a good fit for your needs.


2. Consider What You’ll Need to “Age in Place”:

Your next home should be one that makes sense for you for both the long and short term, so the concept of aging in place is an important one for retirees. Luckily, your agent will be right there to help ensure the communities you are interested in include homes designed to meet your needs - both present and future. Your real estate agent can help you identify Universal Design homes, which are homes built with amenities to help you live safely in your home for years to come. These amenities can include no step entryways, one story floor plans, wider doorways, open floor plans with extra floor space, and bathrooms that are senior-friendly.

Although Portland certainly has much to offer in terms of real estate, the city is also home to alternative senior living options. After looking at houses, you might realize that owning a home isn’t actually the best option for you in retirement.

If you are healthy, active and want to maintain your independence without having to take care of a big house, a retirement community in Portland could be an ideal option for you. A retirement community, also called a “55-plus” community, gives you the opportunity to live on your own without the hassle of property maintenance. There’s also a social benefit to living in a retirement community, which can be an amazing perk for retirees who are new to the area. Arts and crafts classes, happy hours, and holiday celebrations are among the commonly-offered social perks offered in retirement communities.

If you aren’t sure you can live a fully independent lifestyle, you may want to consider an assisted living facility. There are a wide variety of senior care communities in Portland and over 20 in neighboring cities. The cost of these facilities includes room, board and assistance with activities of daily living, such as bathing, general housekeeping and managing medications. Your real estate agent can help you work through your financing options if needed.

3. Connect With a Top-Notch Real Estate Agent:

Your realtor should be a trusted partner throughout your entire house hunting process. He or she can help you understand all the different senior housing options available to you in Portland and guide you through the decision making process.

Ready to buy your dream retirement home in Portland? Contact me, Diana Lipton, today to get started. As a professional Realtor,

Rightsizing for Retirement

you can expect me to make time for you. My promise to you is to give you the best, most professional, service available to help you accomplish your goal, just as I have done for many other happy clients.

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