How do I know when to downsize?
Everyone's situation is different. But there are some common sizes that tell you it might be time to downsize your home! Read on to see what they are - maybe you'll recognize some of them!
1. The kids are gone and the house feels empty.
Your family-sized home now feels so empty and lonely. You wander through the empty rooms and it makes you miss your kids. You and your partner can hardly find each other in the house sometimes it’s so big! It was never so quiet when your kids were living at home. The silence makes the loneliness and missing them worse!
2. Your house is too big now that it's empty.
Now that your kids have moved out independently, your home is way too big for you and your spouse. So many rooms don’t even get used anymore, so much wasted space. Except…you still have to clean, heat, cool, and maintain those rooms, what a waste of time and money! It’s nice to have the space for the kids to stay when they come to visit but, 90% of the year you have way too much space.
3. Your house is too much to keep up with.
Did it always take you this long to clean this house and take care of this yard? It never seemed this exhausting before. Of course, you had the kids to help with some of it and you were a bit…younger then! Taking care of this house and yard is getting harder every year and you’re tired of it.
4. You're really feeling tied down to your house.
Your large house's expenses are taking up most of your income - which is often lower in retirement years. This includes maintenance, repairs, and the cost of paying people to do the jobs you can’t do anymore. You’d love to travel more but you have very little disposable income after paying for your housing. And, even if you could afford to travel, you would need to have someone take care of the house when you’re gone!
5. You are worried about leaving behind a house full of stuff after you're gone.
If you don’t sort through all your belongings and move into a smaller place, who will? What if something happens to you and you end up in a nursing home or worse? Your kids will have to deal with all the furniture and belongings that you couldn’t. That is not a legacy that you want to leave them.