When facing a decision about downsizing your home, there are two most important questions to ask. Will it improve your finances? Will it improve your lifestyle? If you answer is ‘yes’ to both of these questions, you need to make the decision sooner rather than later. Don’t stay in your large family home until your children have to drag you out.
There is no set age to downsize – some empty nesters choose to downsize in their 50s. Others prefer to stay on in their family homes until they feel it’s time to move into a retirement community. Some couples take a few steps, from family home to smaller home, condo or apartment, before eventually settling in a retirement community. There is no right way or wrong way to downsize – it’s what’s best for all concerned that matters. (more…)