The 10 Biggest Moving Regrets People Have In Retirement

Retirement marks a momentous period of change for seniors. As their children become more independent and work requires less attention, many people envision how they want their lives to look throughout their golden years. For many, this involves transitioning to a new home. After all, the factors that informed your initial decision to buy a property might not remain relevant in retirement. The 2024 Transamerica Center for Retirement Studies survey found that 38% of retirees in the United States move during this stage of their life.

Of those who move, being closer to friends and family is the most common reason, accounting for 36% of respondents. Around one-third of retirees who move cite downsizing to a more affordable home as the primary driver of the decision. Another 36% relocate to minimize routine costs. One in every five seniors transitions to chase down better weather. As you can see, most of the variables pushing retirees to move are financial in nature. This lines up with some alarming survey findings by Lincoln Financial, revealing that 62% of people report a desire to have put themselves in a better financial position for retirement.

To avoid some of these regrets, seniors approaching their golden years can look at the biggest moving regrets people have in retirement. Whether these mistakes help you save some money or talk you out of moving altogether, they'll help protect your nest egg from avoidable hits. That way, you can enter retirement in a better and more comfortable position.

Moving costs are a one-time expense, but you may be surprised by how much this transition can set you back. In the past, you might have been able to pull off a move with some elbow grease and a few willing friends. However, the moving equation is much harder to solve when you're older and have more belongings. That means hiring professional movers, which comes with additional costs. Home Advisor places the average cost of moving locally at $1,706. While some retirees can get it done for $880, others may pay nearly $2,600 on the higher end. Long-distance transitions significantly elevate moving expenses. Seniors should expect a bill between $2,700 and $10,000 when moving out of state. These price ranges vary widely since every retiree faces unique moving conditions. 

Generally, the cost of moving is based on how much stuff you have, how much your belongings weigh, how far you're moving, and what time of the year you're transitioning. You can drastically reduce your moving costs by getting rid of stuff you've accumulated over the decades. When entering retirement, you shouldn't have trouble finding items you no longer use. Still, moving costs are likely going to represent a significant bill early on in your transition phase. After saving meticulously for decades, this single, upfront expense can put a dent in an otherwise unblemished nest egg. It doesn't have to be a financial catastrophe for an unexpectedly high bill to make retirees regret moving.

Interest rates have been on a roller coaster of incredible lows and relative highs for decades. Seniors who caught the bottom of the trend by purchasing a home when rates were low may find current premiums a major barrier to moving. The Federal Reserve Bank of St. Louis tracks the average 30-year fixed mortgage rate in the U.S., showing how this crucial metric has fluctuated over time. Current rates hover slightly over 6%, which is reasonable when looking back to the 1980s when they spiked over 18%. However, seniors looking to move aren't going to judge their interest rates based on historical trends. Instead, homeowners who are moving should compare their new mortgage rate with what they're paying for their current home. 

Whether you have a fixed or variable mortgage, this apples-to-apples approach clearly reflects the interest burden of each property. Redfin estimates that the average homeowner holds a property for nearly 12 years. Thus, seniors considering a move now most likely bought their original home around 2014. According to the St. Louis Fed, interest rates were about 4% at the time, so around 2% lower than now. Retirees who secured a home loan when interest rates were extremely low may regret taking on another mortgage at current rates of around 6%.

The most recent survey published by the Transamerica Center for Retirement Studies revealed how heavily the average retiree's net worth is skewed towards property value. According to the survey, the median household savings is $185,000. About $71,000 of that figure stems from non-property-related savings. These numbers indicate that about 62% of the average senior's nest egg is derived from their home's equity. This isn't inherently a problem, but it highlights how much property should weigh on a senior's financial decisions, especially when it comes to moving.

Any amount of time between when a retiree buys a new home and sells their current property represents a period of serious financial strain, with equity tied up in two properties. Beyond having a lot of money tied up in real estate, retirees also face the prospect of paying two mortgages. Zillow reports that the average home sale takes between 47 and 62 days to complete. Selling competition is rising, too, threatening to elongate the time a senior's property stays on the market. Realtor suggests that active home listings have jumped by 15.3% from 2024 to 2025. Seniors who want to avoid juggling two mortgages or having equity tied up in two homes should time their sales and purchases carefully.

There's no shortage of sneaky reasons your property insurance rises, and many of those hidden factors are dependent upon where you live. The same is true for other forms of coverage, such as car insurance. Therefore, seniors risk having higher insurance premiums when moving during retirement. Ironically, many of the hotspots for elderly Americans have above-average insurance costs. Let's take the Sunshine State as an example. This quintessential retirement hub attracts people for its year-round sunny weather and long coastline. Yet, one of the reasons retirees regret moving to Florida is the rising home insurance premiums. 

According to GreatFlorida Insurance, the standard home insurance costs residents nearly $12,000 annually, about five times more than the national average. Those already astronomical premiums are up 7% from the prior year, suggesting the problem is only getting worse. These inflated insurance costs are born out of the state's elevated risk associated with a higher frequency of inclement weather. Insurance News Net highlights South Carolina, California, and Texas — all popular retirement locations — as other states with excessive rates due to extreme weather conditions. Car insurance rates vary considerably by state, too, throwing another potential financial wrench into the finely tuned financial plans of retirees.

Another common moving regret people have in retirement is the presence of a homeowner's association. These organizations regulate what property owners can and cannot do within their neighborhood or community while paying for routine upkeep in shared spaces. The Foundation for Community Association Research suggests that over one-third of homes in the U.S. fall within a community association. Although some regions of the country have a higher prevalence, these numbers indicate that retirees have a roughly 33% chance of moving to a home that's subject to an HOA and accompanying regulations and fees. According to HOA Start, the average homeowner pays $291 monthly and $3,492 annually in these community dues. T

he weight of these costs is really put into perspective when you consider that the median retirement income for a single person in the U.S. is only $50,290. Retirees who decide it's financially worthwhile to pay these dues might still want to avoid the states with the highest HOA fees. New Home Source reports that Missouri, Arizona, and Oregon have the costliest monthly HOA fees, costing homeowners in these states $469, $448, and $402, respectively. Those looking to avoid these costs altogether should check with a community beforehand to determine if a particular property is subject to HOA rules and dues.

After exiting the workforce and managing a fixed income, many seniors consider moving to an area of the country with more tax breaks. Yet, there are many reasons retirees regret moving to a "low-tax" state. Often, these states will raise taxes in other areas to make up for the lack of revenue from income taxes. For example, Washington, New Hampshire, and Florida are among the least affordable states with regard to taxation, despite them having no income taxes. As an example, Texas — usually considered an affordable place to live — hits residents with an 8.2% combined sales tax and a 1.36% effective property tax rate, both of which are higher than the national average.

Although income tax receives the most attention since it represents the largest tax burden for employed individuals, seniors risk overlooking property and sales taxes — both of which impact seniors throughout their retirement. Self Financial estimates that the U.S. government takes $524,625 from the average person throughout their lifetime, across all forms of taxation. That's nearly 35% of lifetime earnings. According to the Tax Foundation, the average American pays about 14.5% in income taxes, which means the remaining 20.5% is largely derived from property and sales taxes. To get an accurate view of the tax-related costs of moving, seniors need to take all of these forms of taxation into account.

Some retirees are aware of the many medical costs Medicare won't cover for seniors. However, the varied coverage of this foundational federal program doesn't stop with certain types of medical care. Some Medicare coverage can vary in coverage quality, breadth, and costs based on the state in which you reside. More specifically, the specifics behind Medicare Advantage (Part C) and Prescription Drug (Part D) change state-by-state.

On the other hand, Original Medicare (Parts A and B) is broadly identical throughout the country. Part C and Part D plans, similar to private coverage, offer coverage across a certain geographical area. When you move out of this covered area, you're effectively living without health insurance. Seeking medical care through either of these Medicare programs after moving to a new location outside of your current plan's coverage can result in serious medical bills without federal assistance. Yet, changing your plans before moving doesn't mean you escape any price changes. Some states simply have higher Part D and Part C premiums. If you want to ensure your desired doctors and drugs are covered, you might see a higher monthly payment.

Seniors can determine their hypothetical Medicare costs in different places by entering the ZIP code of their desired location via the Medicare plan comparison tool. Just keep in mind that all premiums tend to increase year-to-year. To ensure you're making an analogous comparison, compare rates for the same calendar year. This shouldn't necessarily be a make-or-break factor when choosing where to move, but you don't want to be surprised by higher-than-anticipated medical costs in retirement. 

Some of the best countries to retire in outside of the U.S. achieve this status due to their relative affordability. Many nations in Europe and Central and South America generate interest among retirees who have been bitten by the travel bug or those who are disillusioned with the state of America. Regardless of the motivation, interest in retiring abroad has been growing steadily. According to a survey by the Western and Southern Financial Group, about 36% of Americans consider retiring abroad. Another one-third of U.S. adults are actively open to the possibility. In 2024, a staggering 712,000 Social Security recipients took their benefits from abroad, representing a 21% jump over the course of 12 years, as reported by Forbes. 

Although there are plenty of foreign countries that offer a lower cost of living than the U.S., retirees often regret the double taxation that often comes with moving abroad. Unlike most countries, the U.S. taxes citizens even when they spend considerable amounts of time abroad. On top of that, seniors are subject to foreign taxation when living in another country for an extended period. Depending on the location, a move abroad in retirement could double your tax load.

Unfortunately, seniors can't move their entire lives when relocating in retirement. Everything about your life up until this point will remain where you used to live. That means seeing friends and family will require you to travel back and forth between your new home and your old stomping grounds. This routine back and forth can lead to some unforeseen expenses. The Bureau of Labor Statistics reveals that transportation is the second-largest annual expenditure among Americans, only falling behind housing expenses. On average, U.S. adults dedicate 17% of their annual spending to getting around. This already disproportionate expense can consume an even greater portion of yearly expenses for seniors who increase their traveling to reconnect with their friends and family routinely after a move.

Even when you're not traveling back to your old home to reconnect, you could face steeper transportation costs with higher gas prices. Many states in the Western and Northeastern U.S. are plagued with higher-than-average fuel prices. Sometimes, these per-gallon costs exceed $4, as indicated by AAA. You wouldn't want to accidentally move to one of the states with the absolute highest fuel prices. These elevated transportation costs are avoidable, unlike some of the other hidden expenses of moving, but retirees who don't want to minimize their travel should consider this financial variable.

Utilities are a routine and unavoidable expense that all homeowners pay every month. Due to their ubiquity, many retirees often don't factor these bills into their equation when calculating the cost of a move. In reality, utility costs vary greatly throughout the country. Some states have extreme energy expenses that result in higher point-of-service costs for homeowners, while other regions of the country see elevated utilities due to extreme weather.

Move.org estimates that the average U.S. homeowner pays $611 per month for utilities. Electricity and natural gas are the two most expensive at $138 and $85. In contrast to these averages, West Virginia, Missouri, and Alaska face the highest overall utility bills at $734, $679, and $658, respectively. Hawaii is tied with the Last Frontier state.

On a per-month basis, this variation in energy costs might not seem extreme, but they add up dramatically for yearly budgeting. It's advisable to consider these costs before moving to a new state. Waiting for your first energy bill might be too late, considering the upfront costs you've already made. Generally speaking, avoiding the states with the highest electricity costs, along with other utilities, could save you thousands across your retirement.