Are you part of the "empty nesters" club? There are people whose children have matured, left the home, and established homes of their own. You may have disposable income, homes with large amounts of equity, and a desire to change living arrangements either by downsizing, by moving to a different area, or by the addition of a second home such as a cottage or an investment property.
Your children may have left for college, job relocation, or a family of their own. The entire house now is quieter and definitely cleaner than before. Empty Nest Syndrome is real for everyone and its complexity is different for everyone. Downsizing isn’t just about moving to a smaller home. It also means cutting bills, preparing you for the future, and even make you feel happier and less cluttered overall.
Here are things to remember when it comes to navigating this new chapter of your life.
Take the time you need to move, but don’t wait too long to start downsizing your home. The longer you wait, the harder it becomes in the long run. You may have some long-awaited vacations planned. Maybe you just want to hold onto your home a little longer because you are not sure of your next steps and this is where the Megan Scott Team will be able to help you with those answers. It’s okay to take some time after the kids have gone to settle into a new routine.
Moving to a different home can be emotional for many people, but don’t let that discourage you. You raised your family in that house, and there are so many memories. By downsizing, you’re doing the best thing for you and your partner. By selling your home, a new family will have the chance to make their own memories filled with love.
Ask for help or advice. You need someone who can bring a fresh pair of eyes to the situation and assist with making sense of the fine print.
Keeping a larger home has costs that you incur. Even if it’s paid off, there are still taxes, insurance, and city services that all cost much more with a larger home. By moving to a smaller space, you can cut these expenses significantly (maybe even in half), in turn saving more money in your pocket for your retirement and doing the things you dream of doing.
Don’t just reduce your living space, but the things in it, too. The truth is, we all hold on to belongings that we don’t need. This is the perfect time to sort through all your items and all of the tasks you said you’d eventually get to. Choose the items you want to give your children as inheritance - everything should have a function. The rest can be donated or sold.
Envision your future lifestyle when choosing your next home. Are the rooms easily accessible? Are there a lot of stairs? You may not need assistance now, but it’s always a good idea to look at the next phase of your life and plan accordingly. By planning ahead, you may not need to make many changes later. Moving to a smaller house usually isn’t for everyone, but for some, it’s the right move.
The one thing you have to remember is that this is just the next chapter in your life. It’s normal to feel scared and excited, and it’s just like the feeling you had when you moved away from home for the first time. But like then, you only need to take that first step before you realize that this was a great decision.
Searching for a home? Let the Megan Scott Team help you find the home the fits your new lifestyle. Check out our homes for sale here or contact us at 647 232 7743 to learn more.