Other people want to be near their children because they have not yet built their own independence fully as adults. This arrangement is not likely to work well. Children cannot fill an emotional void that results from a parent's sense of being incomplete.
Implicit in moving to be near your children is often the expectation that they will step in to provide care if this should become necessary.
Not everyone is comfortable putting their children in that position. Nor are all children happy to carry that expectation. Still, it can work well for many families.
The key to considering whether to move near your children, or not, is to evaluate openly and honestly what your motivations are and to be sure that your family is one that will welcome the resulting arrangements and interactions.