Too much house?
If the kids have moved out and cleaning 3 bathrooms, mowing the lawn, and heating and cooling 4 bedrooms is getting old, then it might be time to downsize.
Downsizing is not for everyone. There are many reasons people choose to keep the family homestead. Perhaps your location is ideal for your job and you’re not ready to retire. Maybe the kids are close and you want to stay near them.
Perhaps the kids have moved far away and you want to maintain guest rooms for them. I talked about this with my thirty eight year old son recently. Even though he stayed at a hotel last year because my standard poodle was too boisterous around a newborn baby, he said that he would find it disconcerting when I do sell the family home and he no longer has his “old room” in which to stay. And truth be told, the house we live in is not the house he grew up in. He has never spent more than a week or two in his “old room” in this house – but it does have his baseball cards under his bed and his old Star Wars Millenium Falcon resting in a place of honor on a book case.
There are benefits to downsizing that many people find attractive, and not least among them is cost. For many baby boomers, the majority of our wealth is tied up in our homes and selling our home will release the cash that we might be able to use differently.
Many more owners are ready to sell now. Maintaining a home is expensive, and maintaining a large home is very expensive. Between real estate taxes, heating and cooling, utilities, insurance, yard care and maintenance, many people find that they can save tons of money by moving to a smaller home.
Additionally, smaller houses cost less to buy so you’re likely going to walk away from a downsize with a smaller mortgage. Even if you’re not ready to retire, moving to a smaller home will help pad your nest egg for retirement.
The time it takes to maintain a large home is another factor that baby boomers are considering in deciding to downsize. When you own a large home, your entire weekend could be spent doing household chores. If your new home is half the size of your old home, that’s half the time it will take you to maintain the home. Imagine what you could be doing with all that spare time!
If you’re experiencing empty nest syndrome, a new home is a chance for you to regroup and have a fresh start. New homes offer opportunities for new friends, new clubs, new volunteer activities.
If you’re thinking about downsizing, now is the time to call the Lise Howe Group at 240-401-5577. Find out what your home is worth and make an informed decision! We are delighted to offer a complementary market analysis of the value of your home. Let us help you gather all the information you need to make your decision.
If you are thinking of leaving the DC metro area to move someplace great like South Carolina, Delaware, the Caribbean or Europe, let us help you find a great Realtor to help with your move. Keller Williams has offices around the United States and the world. Chances are there is a Keller Williams office where you want to move!