Retirees are often living in the same home in which they raised their families. The neighbourhoods are often suburban with large yards and far from the nearest shopping areas. There are schools and playgrounds, parks and areas for jogging and bicycling. The areas they are living no longer fit their needs. It’s time to find something more suitable for their lifestyles. Is it time to rightsize?
When is the right time to rightsize and move into a new space?
- When you have too much space. Are you living alone or just with a spouse? You no longer need that 3 bedroom home with 2 baths. All of it needs to be heated, maintained and taken care of. Over time you’ve noticed that you only use certain parts of your home. It’s time to find something that’s the right size for your needs.
- Before a spouse dies or becomes very ill. Often there is one spouse who wants to stay in a home while the other would like to move to something smaller. The spouse with failing health may suggest it, knowing that their husband or wife will be left alone to look after a home that is far to large and far too expensive to keep up.
- While you can still afford to. Holding onto the family home for sentimental reasons is never a good idea. Yes, your children and grandchildren like to come home to visit but the upkeep and cost can become too much. Retirees may find themselves taking from their savings accounts in order to look after a property that is far too much for them. Move while you still have your savings.
As we get older we also find that we really don’t want or need a lot of space to live. What are your favourite areas of your house? Look for something smaller that encompasses the feeling of your favourite spaces while also providing room for everything you need. Search out areas that provide easy access to healthcare, shopping and your favourite places to go such as the library. To read the complete article on rightsizing, click here.
