Today's Boomer: Four Sure Signs It's Time to Downsize
1. The Nest is EmptyYour youngest has just embarked on the great adventure of making her own way into the world. Once the nest is empty, many boomers realize they no longer need the large home where they raised their children. While having a spare bedroom is always nice when out-of-town guests arrive, two or three extra bedrooms are usually not necessary for most people and can often end up creating extra work with little or no return on the energy expended.
2. You Want to Spend Less on HousingYou're approaching retirement—or are already there—and would like to spend less on housing and more on the things you enjoy. If you're still making mortgage payments on your current home, the lower monthly payments a smaller home will bring can make a significant difference to your standard of living, allowing you more disposable income each month to spend as you like.
3. You Think Golfing is More Fun Than Maintaining a Large HomeMany boomers and retirees agree with this sentiment and they are trading their larger, singlefamily dwellings for worry-free condos, where they aren't required to do yard maintenance. This housing option frees these adventurous souls to travel and enjoy a wide range of other pleasurable activities closer to home the rest of the year.
4. You Want to Use Your Home Equity to Improve Your RetirementBy selling your larger home and replacing it with a more modestly sized dwelling, you'll be able to sock away the difference and fatten your retirement account. If you purchased your home years ago at a significantly lower price than its current market value, you can really come out ahead, providing for a far more comfortable retirement.
If you are among the adventurous group of baby boomers who are ready to reward themselves for the years spent raising their families, today's housing market offers many opportunities for you to "right-size" your life by finding just the right home for the brand-new lifestyle you crave.
WESTconsin Realty, an affiliate of WESTconsin Credit Union, offers a low seller’s commission rate on qualifying properties and no administrative fees. Full-time, full-service real estate agents are located in each WESTconsin office area throughout western Wisconsin. Find more helpful articles at WESTconsinrealty.com.
The material in this article is provided for your informational purpose only and is not intended to substitute professional advice. If your property is currently listed with a Real Estate Broker, this article is not intended as a solicitation.
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