Julie Tuggle, 67, has a utopian lifestyle in mind for her retirement years. Eventually she plans to leave the traffic-ridden city of Charlotte, North Carolina, in favor of the small town of Leland on the other side of the state.

“I hate driving, and Charlotte is way too busy. My husband is an author who works from home. We both love Leland, where you can easily walk and ride your bike to grocery stores and restaurants,” says Tuggle, a real estate broker who’s led her own firm in Charlotte since 1994.

In her desire to scale down to a more walkable community, Tuggle is typical of her many boomer-age home-buying clients, born between 1946 and 1964.

Just 28% of Leland’s population is age 65 or older. Still, the number of seniors living nearby is rising rapidly. That’s because the town is not only walkable but offers close access to stimulating college-level classes open to seniors, a very popular amenity.

Of course, many older homebuyers place a high priority on moving near their grown children and grandchildren. And an increasing number of seniors are teaming with their offspring to buy a home suitable for multigenerational living.

Whatever your retirement goals, look ahead thoughtfully to make a considered decision, says Sid Davis, a longtime real estate broker in Utah.

“Don’t take your real estate planning lightly. Making the right choices is crucially important to your financial future,” says Davis, the author of multiple books on buying, selling and investing in property.

One real estate decision with especially momentous implications for retirees involves buying property abroad or in a faraway U.S. city. Financial planners caution that such a long-distance move can entail many unforeseen consequences.

“You have to look behind the curtain before making any big life decision or move,” says Keith Weber, a certified financial planner and author of “Rethinking Retirement.”

What’s the best way to play your real estate cards as you head into retirement? Davis says there are multiple good answers to that question. Some homeowners -- determined to enter retirement debt free -- tighten their budgets to make extra mortgage payments to pay off a mortgage early. Others refinance any mortgage debt they have to lengthen the term and thereby cut their monthly living expenses in advance of retirement.

Of course, some owners must tap equity to survive after they’ve ended their careers. That could mean they may have to sell their property just to afford such basics as food, clothing and medicine. Alternatively, some income-short retirees take on a “reverse mortgage.” This has the potential to liberate them from principal and interest payments in their senior years.

Here are a few pointers for those pondering their future real estate options:

-- Don’t blindside your partner about your lifestyle goals.

Dorian Mintzer, a psychologist who specializes in retirement and relationship coaching, recommends that soon-to-retire couples spend several hours discussing their views on ideal retirement arrangements.

“The idea is to reach a shared vision through creative compromise,” says Mintzer, co-author of “The Couple's Retirement Puzzle: 10 Must-Have Conversations for Creating an Amazing New Life Together.”

She says couples who head into retirement without reaching a common vision could be at risk for an eventual breakup.

“In this country, we’re now experiencing an increased rate of divorce for people in the retirement age group,” Mintzer says.

-- Always factor finances into your retirement planning.

Although many people approaching retirement think the most prudent choice is to sell a large house in favor of a smaller property, a minority view retirement as their last opportunity to buy or build a larger or more sumptuous place.

Ernie Zelinski, author of “How to Retire Happy, Wild and Free,” points to research showing that retired people who live in spacious homes are no happier than those who reside in small places.

“People say, ‘This is my chance to buy that dream house I’ve always wanted.’ That causes them to buy a far bigger place than they really need for retirement,” he says.

Zelinski recommends that retirees make a realistic evaluation of their housing needs, as well as their budget limitations, before committing to the purchase of a large property that comes with major utility expenses and maintenance obligations.

-- Don’t count on cost-of-living savings from a distant move.

It can seem financially wise to sell one’s home in a major metropolitan area to move to a rural town that claims a significantly lower cost of living. But Davis says this could be false economy unless you think through all the financial implications.

For example, if your grown children and grandchildren live all over the country and you wish to see them often, how much would it cost for flights in and out of your rural airport? Would it be cheaper to live in a metro area served by one or two large airports?

Another factor to consider involves convenient access to quality health care. During their senior years, many need consultations with high-level medical specialists or surgery at a major hospital, and if they live in an isolated area, the costs for medical care can mount.

When visiting a new retirement location, Davis recommends you bring along a checklist to ensure the community would meet your requirements. Among other factors, check out the local transportation facilities -- including public transit -- and access to cultural and entertainment venues.

“It’s not only your money, but also your contentment at stake when you make any real estate purchase, sale or investment for your later years,” he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

A 38-year-old New York City man became flush with cash after his tech firm was sold, yielding him a huge bonus. He’s been looking for a posh condo in a fancy neighborhood since last September, but he's in no hurry to choose a property.

“The COVID gold rush for property is over. The market is normalizing, and buyers now have a lot more leverage with sellers than they did before,” says Margaret Lebenson, the real estate agent representing the tech worker.

As a first-time buyer, the New York tech worker has a long list of wants and needs. He’d like a fully renovated unit in a building with a rooftop terrace, located near a convenient running trail. He also wants a place with at least two bedrooms and two baths.

Many factors are beginning to favor buyers in the current market. Mortgage rates haven’t fallen as purchasers had hoped, and prices remain high in most popular metro areas. But the volume of available listings is gradually increasing, giving buyers a wider array of choices.

“Sellers are definitely more accommodating to buyers now, which makes home shopping a lot less anxiety producing. Sellers are more willing to compromise on price and terms. Consequently, some buyers are now digging in their heels, saying, 'I’m not going to spend one dime more than my initial offer,'” says Lebenson, who works exclusively with first-time buyers.

Of course, buyers must consider the reality of high mortgage rates. Also, they must assume that, due to climate change, the cost of homeowner’s insurance is expected to rise steeply.

“These days, many buyers are cautious about how much they can afford, and I appreciate that approach,” Lebenson says.

Here are a few pointers for first-time buyers:

-- Find a mortgage lender to help define your spending constraints.

Experts on real estate always advise first-timers to determine their mortgage borrowing capability before heading out to look at property. That way, they won’t get their hearts set on a property that’s unreachable for them. This is especially important during a period of stringent lending standards.

“Getting a mortgage is as tough as I’ve ever seen it for first-time buyers. They practically have to walk on water now to get a home loan,” says Tom Early, a past president of the National Association of Exclusive Buyer Agents (naeba.org).

He says purchasers should make sure a lender takes them through a serious preapproval process.

“What you’re looking for is a lender who will verify your employment, income and assets, plus your credit history,” Early says.

He encourages first-timers to meet face-to-face with a lender and spend up to an hour in that meeting -- sufficient time to make sure all their questions are answered. Soon after this meeting, the lender should issue a “preapproval letter” that spells out the buyers' full borrowing capacity.

-- Seek a fixed-rate mortgage rather than an adjustable one.

Of course, many first-time buyers view their initial purchase as a stepping stone to a larger home. These buyers may intend to remain in the place no longer than five years before moving to a better one. That would seem to justify taking an adjustable-rate mortgage (ARM) with a low initial rate that won’t adjust upward for several years.

Still, years of experience have convinced Early that all buyers should hedge against the uncertainty of a longer-than-expected stay by selecting a fixed-rate loan.

"As an old-timer in the real estate field, I don't consider current mortgage rates especially high now. But they could always go even higher in the future. That's why it's unwise to take on the risk of still higher rates by accepting an adjustable-rate mortgage," Early says.

A traditional fixed-rate mortgage is especially advantageous during uncertain economic times.

“Unlike in Europe, fixed-rate mortgages are one of the substantial consumer benefits we have in this country,” Early says.

-- Always factor in resale when selecting a first home.

Regardless of how long you intend to live in your first home, it’s smart to pick out a property that should be easy to sell when it’s your turn to do so.

“Think about the back end of your transition. Remember that someday that house will be on the market again,” Early says.

Keeping in mind your budget constraints, what features are ideal when choosing a house that’s very marketable?

“If you can afford it, always try to buy a place with plenty of bedrooms. Nowadays, buyers want multiple bedrooms -- for a home office or space to pursue a hobby like crafting,” Early says.

What other features should you look for?

“Ideally, you’ll want a place with at least two bathrooms, or a minimum of a bath and a half. Also, remember that many buyers are strongly attracted to a family room with a fireplace that’s big enough for a very large screen TV,” Early says.

Even more important, you don’t want to trade off the most important feature for resale: a prized neighborhood location. Well-rated schools, prime shopping and good roadway access are all features that help define a popular neighborhood, Early says.

“You never want to compromise on location. That’s because a strong location is the one absolute element you can count on to help sell a home,” he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

Contrary to the expected dip in home values this year, prices are on the upswing in most metro areas. Price gains are especially strong in ritzy neighborhoods.

“Astonishingly, greater than 90% of the country’s metro areas experienced home price growth despite facing the highest mortgage rates in two decades,” says Lawrence Yun, chief economist for the National Association of Realtors.

Of course, there are exceptions, notes Glenn Kelman, CEO of Redfin, the national realty brokerage based in Seattle. Such outliers, he says, include Texas and Florida, “where houses are cheaper to build.”

More wealthy owners of high-end homes are now seizing the opportunity to take advantage of their growing equity, thereby allowing them to make a long-desired move.

“Significant life changes can contribute to a major move,” says Rich Harty, the broker-owner of an independent realty firm in the Chicago area.

He tells the true story of one client, a divorced woman of 70, who raised more than $2 million by selling her contemporary property set on a full acre in the swank Chicago suburb of Oak Brook. The sale allowed her to buy another large place closer to her two grandsons, ages 7 and 11.

“She’s a professional grandmother, and the boys mean everything to her,” Harty says.

Are you contemplating the sale of a home at the high end of the price scale in your community? If so, these few pointers could be of use:

-- Set your asking price cautiously.

“Just as all politics is local, all real estate is ultimately local,” says Eric Tyson, a personal finance expert and co-author of “Selling Your House for Dummies.”

If your place is located in a prestige area, you can be more confident of strong pricing.

“You’ve got to get intelligence on the ground specific to your neighborhood,” Tyson says.

He recommends you gather pricing opinions from at least three real estate agents who have a mastery of your market. Also visit other properties for sale in your same community to compare pricing and features.

“No matter your market, you never want to overprice on the basis that you could test the market, because buyers won’t be fooled. But you might wish to come in a notch below current market value if you need to sell quickly,” Tyson says.

-- Resist the urge for expensive presale upgrades.

Ronald Phipps, a real estate broker since 1980, underscores the importance of cleaning, decluttering and repainting to make the most of your sale. But you’re unlikely to need major upgrades for a successful sale.

“When picking home improvements, you want to be pragmatic and practical,” he says.

What commonly happens is that owners try to recoup the cost of excessive presale improvements by demanding too high a price. Because of that, their property will likely languish unsold for a lengthy period until they take a price cut.

-- Ask your listing agent for a checklist of suggested changes.

Real estate specialists divide home sellers into two categories: Those who refuse to spend any money for presale improvements and those who spend excessively or misappropriate their dollars.

“Before you sell, the key is to distinguish between changes that give you a big bang for your buck and those that simply represent money burned,” Tyson says.

To come up with a focused plan for presale improvements, he urges sellers to ask their agent for a written checklist.

Tyson also suggests that sellers consider selecting an agent trained in the art of “staging” a home. Skillful stagers know how to make a home look appealing to potential buyers.

-- Forgo plans for a presale addition.

For most sellers, it’s not cost-effective to knock out walls to build an addition.

Tyson says those who attempt a presale addition rarely recoup more than 50% to 60% of the money invested. What’s more, any construction project that involves the removal of walls can be very stressful and time-consuming.

-- Restrict your upgrades to your neighborhood’s standards.

As your listing agent will likely tell you, your kitchen is a high-priority area when it comes to pre-sale improvements. If it’s a turnoff to buyers, many will pass on your place.

“But in your kitchen -- as elsewhere in your house -- the idea is to meet and not exceed neighborhood standards,” Tyson says.

For example, you may need to replace an aging refrigerator in your kitchen. But replacing it with a basic refrigerator should be fine, unless your neighborhood’s homes are all equipped with high-end, professional quality appliances.

-- Sharpen your focus on your home’s exterior.

The landscaping around your place is like the frame around a painting. It defines the entire image of the home. But upgrading your landscaping need not be costly, assuming you’re resourceful.

“You’ll want to trim your shrubs, and you’ll absolutely want to remove dead plants. A dead plant is a real turnoff,” Tyson says.

For replacement plants, he suggests you turn to a local nursery for free guidance on plant selection and design. Or look to a helpful neighbor with a green thumb.

Most sellers can dramatically improve their “curb appeal” by cutting back or replacing any overgrown shrubbery that shrouds their place. But no matter how majestic your property, you won’t need to install exotic plants or dazzling fountains to make it sell.

“Ripping out your whole landscaping plan and starting over is almost never called for. When it comes to your yard, you can greatly improve its looks for relatively little money,” Tyson says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)