How to Downsize as Empty Nesters

The kids are officially out of the house- or maybe they have been for years. Are you feeling like your large home is suddenly overwhelming? Do you long for a smaller space with less to take care of? No yard work and maybe that pool you’ve always dreamed of?

Once your kids are grown and out of the house, your options suddenly open up. Many empty nesters decide they’d rather spend their retirement and hard-earned savings on travel and all the things they’ve been wanting to do for years, but couldn’t. Because it’s a seller’s market you may want to sell your house and use the profit to rent a smaller space to save time and money.

Saving time – When you rent an apartment you automatically free up a ton of time that used to be spent cleaning, doing yard work or mundane activities like organizing the garage, right? Say goodbye to cleaning sprees and hello to your weekends. An apartment is usually much smaller than a single-family home, which means less time cleaning. Community grounds are kept lush and growing. All you have to do is walk around and enjoy…instead of pulling weeds and raking leaves. Plus you may have had a ton of stuff that ended up in the garage over the years. Downsizing is the perfect opportunity to donate or sell that stuff you haven’t used in years.

Saving money – Whether you’re still paying your mortgage or not, moving into an apartment is usually cheaper than upkeeping a single family home. Say goodbye to maintenance expenses, landscaping fees, property taxes and home insurance (renters insurance is typically very affordable). Say hello to the extra money in your pocket that can be used on the things you really want to do, like traveling the world.

New opportunities – As an empty nester or retiree, are you craving travel or just the desire to spend your money on the things you love instead of up keeping your home? Downsizing can help you with that! Why stay in a large house that requires time, money and maintenance if you plan on traveling throughout the year? Take that trip to Rome or buy that RV you’ve been eyeing for years. It’s time to enjoy the finer things in life.

Many empty nesters find living smaller spaces creates more time and money to do what they love. Downsizing doesn’t have to mean cutting back. In fact, in most cases, it can mean moving forward!