Is it Okay to Get a New Mortgage at My Retirement? Many people think that buying houses at retirement is a bad decision because it is difficult to come up with monthly mortgage payments when your resources are fixed or limited. While this is true, buying a house at retirement can also be a fine choice if you really put your mind to it. You are prone to mistakes and making bad judgments, so be careful in everything you do.  If you are a retiree, currently struggling to make ends meet, a new mortgage may not be the way to go. You may think it helps but you are just setting yourself up to a big failure later down the road.  It feels great to have a house you can call your own, but if you do not have enough to support your monthly payments, you might want to rethink the purchase. For someone who wants to relocate to another state for their retirement years then buying a house makes a perfect sense. Remember to watch out for people who like to take advantage of someone because they think that retirees are easy targets. Pay close attention to every small detail to make sure you are not paying more than what you are supposed to. Lastly, stick to mortgage terms that are not adjustable. This way, it will be easier for you to maintain your finances.