The term rightsizing is all the rage right now, and for very good reason. Baby Boomers are all nearing retirement and have gone through a lot of life changes that are going to be reflected in how and where they live.
Below are three of the top reasons for “rightsizing” and moving into a home that fits you better.
Reason #1: Save Money
Baby Boomers are experiencing lower costs for a few reasons. First of all, they no longer have children to support, which means a lot of the biggest costs are gone. Additionally, at this point it is highly likely they’ve paid off the mortgage on their home and have minimal housing costs.
Even if this is the case, with people living longer than ever before, it is important to make financially prudent decisions. It also never hurts to avoid waste.
When baby boomers see how much they’re spending to maintain a house they don’t fully use, it feels like a pretty clear decision to revamp their living situation. The amount of money saved on utilities, property taxes, and general maintenance is not insignificant, and it’s pretty hard to say no to that.
Reason #2: Improve Your Lifestyle
People move into houses to fulfill the dream of having the “white picket fence”, but once their kids move out, it doesn’t feel nearly as practical. If you want to be closer to work, be able to walk places, or would prefer the living situation a condominium offers, then rightsizing is a prudent move for you.
After a while, money is just about improving your lifestyle and being happier in the position you’re in. With rightsizing, you actually have the opportunity to do both.
Reason #3: Adjust to New Changes
Families change and evolve, and the need your family has for a home will be very different 20 years after you bought. Once your kids move out, you might want to change your living situation to reflect this. Other changes that could occur are divorces, job changes, or injuries. All of these create logical reasons to live in a home that better fits your new lifestyle and the changes which have occurred in your life.
With these three reasons, it should be clear there are a lot of benefits to selling your family home and moving somewhere that better fits your new living situation. Patrice Gale has observed this trend for a while and helped tons of people start their new lives, so go to someone who knows what you’re going through today!
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