With the ongoing advancement of population aging, the relocation of retired individuals after retirement has become a significant issue in social life research. During retirement, individuals depart from their established work-related lifestyles, experiencing fundamental changes in both living conditions and psychological states. Their emotional perception and cognitive reasoning patterns also undergo adaptive adjustments, which subsequently influence their housing selection and relocation decisions. To elucidate the underlying psychological motivations behind elderly relocation behaviors, this study examines emotional perception and cognitive biases as key variables, comprehensively analyzes their distinctive characteristics, and investigates how they affect retirees’ relocation choices, timing, and preferences. This research aims to enrich the field of geriatric behavioral psychology and provide theoretical insights for designing age-friendly living environments.