We’re in our late 60s, want to retire at 70, and dream of a rural property for gardening — but I have arthritis and worry about more debt, housework at our age. What should we do?

What will your move cost you?

The first big question is how much your new property will cost. Realtor.com reports that about half of all Boomers have paid off the mortgages on their homes.

If you’re one of them — or if you have a lot of equity in your home — you may be able to sell your house for enough to buy your dream property outright. That’s even easier if you’re moving from an area with a higher cost of living into a more affordable community.

If you don't have enough cash, you'll need a mortgage. Mortgage rates remain high relative to the pre-pandemic and pandemic eras, with Freddie Mac reporting an average interest rate of 6.87% on a 30-year fixed-rate mortgage as of February 13.

Shop around to make sure you can get a mortgage payment that fits into your budget. Taking on higher monthly mortgage payments at the very time your paychecks stop may not be the best move.

In fact, one of the biggest motivations for seniors to downsize is to enjoy lower housing costs while freeing up equity in their home to invest.

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Will you have the ability to maintain your new home?

Many seniors opt to downsize or move to a different type of home so they can age in place more easily. They look for smaller homes so they don’t have to clean a big house in their 70s and 80s. They look for single-level living and small yards so they don't have to worry about pulling weeds and mowing lawns.

If you're looking at doing the opposite by moving to a rural property to garden, then plan for mobility challenges. Keep your arthritis at bay with preventative care and follow your doctor's advice to manage symptoms. There may come a time when you need to hire help or move again — both of which could be costly.

Before moving to any home in retirement, think about the long-term impact of mobility and health issues. Don't commit to a home you can't stay in for the long haul. If you love gardening, one option might be moving to a low-maintenance, accessible home near a community garden where you can rent a plot and garden for as long as you’re able.

Will you have access to the services that you need?

As you consider rural properties, investigate what amenities and resources are available in the area. Consider how far away stores are and if you'll want to drive that distance as you age. Ensure there is easy access to a doctor, hospitals and health-care facilities.

Connections are important to prevent isolation. You may want to move closer to family or to join a community of like-minded retirees to enjoy a vibrant social life.

By choosing an affordable, long-term living situation, you can plant the seeds for the happy, financially secure retirement you deserve — along with a beautiful garden.