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Considerations for Seniors Buying a Retirement Home in Minneapolis

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Considerations for Seniors Buying a Retirement Home in Minneapolis

Leslie Dahlen

Leslie lives and works in Bloomington and serves many communities throughout the Twin Cities...

Leslie lives and works in Bloomington and serves many communities throughout the Twin Cities...

Nov 7 4 minutes read

You're winding down your work years or well into the adventure of retirement, and maybe it's time for a change. Whether you're looking to sell your Minneapolis home as you downsize or looking for a new home in the City of Lakes for your retirement years, we want to help you find the right option. Here are a few things seniors may want to consider as they house hunt in Minneapolis.

Access to Amenities

Minneapolis offers plenty of amenities seniors might enjoy, including a public library system with more than a dozen branches and almost 20 public parks. Whether you like to curl up with a good book or walk green spaces in the city, homes in most Minneapolis neighborhoods are close enough to allow easy access to these options.

The city also offers numerous attractions and museums. Seniors can enjoy free admission to the Minneapolis Institute of Art and discounted admission to the Mill City Museum and other area attractions.

Nearby Hospitals

Access to neighborhood hospitals or medical centers may be important to senior house hunters, and if you're dealing with a chronic condition, you might want to choose a home near a preferred provider. Abbott Northwest Hospital is rated high for geriatric care and is located in the Midtown Phillips neighborhood, making homes in that area or in the nearby neighborhoods of Phillips West, Ventura Village or Whittier potential choices for seniors. The Abbot campus also has dedicated cancer and cardiac institutes.

Access to Public Transportation

For seniors who want to live independently but may not drive regularly or at all, Minneapolis is a great place to call home due to its MetroTransit service. The bus, train and metro lines serve the greater Twin Cities region, so you're not locked into one city and can explore St. Paul as well. Rush hour fares, which are charged Monday through Friday between 6 a.m. and 9 a.m. and again from 3 p.m. to 6:30 p.m., are the same for all passengers. But any other time, seniors can take advantage of $1 fairs on express bus, local bus and metro lines.

Overall Budget Concerns

Keeping your new home within your retirement budget can be a challenge, especially as Minneapolis has a fairly high median home cost when compared to the rest of the nation or state. Working with a real estate agent to find a home that fits your needs and your budget is important, but seniors do catch a break when it comes to other common costs. Health and grocery costs are less in the city than in other areas of the nation. Plus, while transportation costs are high overall in Minneapolis, the low cost of senior fares on public transportation mitigates that expense for retired individuals.

Meeting Personal Preferences and Needs

Choosing a home that will meet your needs and preferences long term is crucial. Location is critical, but so are in-home amenities. Houses with a single story are easier to navigate when mobility issues arise, and wide halls and doors let you enjoy your entire home if you need wheelchair or walker assistance in the future. Bathroom safety and overall home security are also important considerations for seniors. We can show you single-story residences as well as condo units where you won't have to worry about landscaping or exterior maintenance. And if you're looking for a home where an active, social lifestyle is possible even if you need regular medical assistance, you could consider one of Minneapolis's many senior living communities.

Whatever you plan for your retirement, a real estate agent can help you find the home to support it.

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