DOWNSIZING

Are you wandering around your home wondering why you are keeping such a large space? The kids have grown and gone, in fact, they hardly visit, and when they do, it’s rarely overnight.   You’re asking yourself, why keep so many bedrooms or such a large home for a few family dinners?  The reality is, you don’t need so much space. For heavens sake, you hardly even go in half those rooms! Now is the time to enjoy the fruits of your labor while you still have your health and feel young.  Maybe you can use some of that capital to do the things you’ve always dreamed of.  Is it travel? A new motorcycle? (I’m not kidding) Start a business?

The bottom line is, if you’re 60 you’ve got ten vibrant years—enjoy them. Do what will make  you happy.

Now that you made the big decision to sell…

Downsizing

You’re going to want to find a place that is comfortable and suitable for you not just now but for your later years as well.  I know.  It’s hard to think that way but that’s reality. Think long and hard of where you want to spend the next phase of your life as it will directly affect your mood and any opportunities available so make sure you take the time to figure out really what you want before looking.  With so much targeting retired boomers, we have plenty of options available.

SALE OR RENTThere are some basics, like downsizing so you can free up some capital and you are not dealing with so much space, but there are some things that you should take into consideration. What about your hobbies? Maybe it’s gardening—or think about how social you want to be—maybe that out-of-town property isn’t for you.  How close you are to amenities?  Ditching the car saves money and gets you out walking if things are relatively nearby. The bottom line is— make a list of “must haves” and “must not haves” to help you focus on what’s important to you before you start looking. HOME OR CONDO? Homes are still a popular choice for retirement. This is especially true if you prefer some more time to yourself and some separation from the neighbors. While you still may have that community feel, depending on the area, you are going to be able to have isolation when you need it. If you’re looking for something that offers a greater social experience you may want to consider checking out condos.  Some are large three-story complexes, others are apartments, some with fantastic views.  Many condos are located on golf courses, near beaches, or close to desirable places of interest.  Some condos are large communities with events and neighbour get togethers for those who like being social and meeting new people.

It’s time to change your mental map.

Cocooning in your past will rob you of the wonderful opportunities ahead.  Selling the family home, getting out there might be just want you need to propel you out of your comfort zone and kick-start a new life.

The key here is to take your time to ensure that you are happy and living where you really want to be.

Comments

  1. I’m commenting on my own post. I said, “Now that you’re 60 it’s time to change your mental map. Cocooning in your past will rob you of the wonderful opportunities ahead. Perhaps selling the family home is just want you need to get you out of your comfort zone and to kick start a new life. The key here is to take your time to ensure that you are happy and living somewhere you can truly relax.” So far its been over 8 months our home has been on the market. There isn’t anything to relax about. I know I have all the time in the world but for some reason I need it to happen now! How time changes your attitude.

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