Today’s “boomers” are either in retirement or facing it dead on. More critical and creative than any other generation that has come before them, these seniors show no signs of diminishing and continue to want to live life to the fullest. Retirement is just not what it used to be…
Rethinking modern retirement needs a practical, financial and quality-of-life assessment before you decide to sell your current home and downsize to a more affordable, easier-to-maintain address. Downsizing can improve your lifestyle and the time you need to put into a home to keep it functional (not to mention, CLEAN!).
Here is a guide to help you decide when it’s time to move on…
The nest is very empty
The kids are gone and on their own ( YEAH! ) You don’t need a bunch of spare bedrooms for guests because you now have time to travel to visit family and friends. It may be time to downsize…and remember, for those every-once-in-awhile gatherings where EVERYONE shows up, there’s always VRBO and hotels!
Spending less on housing is appealing
The smaller the mortgage payment, the more you have left in the retirement budget to spend on the things you enjoy. Downsizing BEFORE retirement makes sense too since lower — or no — house payments can make a significant difference in when you can retire.
A bad day of play beats a good day of work
Worry-free condos, no maintenance patio homes…eliminating “must do” projects like exterior painting and yard work opens up lots of time for things you love to do. Plus no one, EVER, has missed climbing a ladder to clean out gutters.
Your retirement savings may be in your house
If you’ve been in your larger house awhile, replacing it with a modest-sized home may allow for you to take out your equity and have a much more comfortable — or earlier — retirement.
If you are a baby boomer that thinks you might be ready to reap the rewards from all of your hard work, and the years spent going without so that you could raise your family, put children through college and help them get out on their own…check into the gift that a smaller home might have for you to improve your lifestyle, offer you peace of mind and fuel your adventurous soul!