Is it Time to Downsize?

If you are lucky, you reach the time in life when moving into a smaller home is a reward! Consider a beachfront condo and surround yourself with worry-free beauty and sunshine almost every day.  

Jessica Lautz, Deputy Chief Economist and Vice President of Research at the National Association of Realtors (NAR), notes, “As we see the transition of the large Baby Boomer generation age into retirement, it will be interesting to see if they move in with their Millennial and Gen Z children or if they stay put in their own homes.”

While multigenerational living is a beautiful option on the rise, it is not necessarily a preferred option for everyone. However, the larger home can become a bit much and a change into smaller, maintenance-free living is often the perfect choice!

Downsizing doesn’t have to mean merely a loss of space to manage. It can be an enhancement in options. Never worry about the maintenance that comes with a single-family home, and live the life you imagined - like right off the golf course or facing the beach to catch every sunset. There are plenty of villas and condos with active lifestyle amenities from pickleball and tennis to swimming, workout rooms, kayaking and more. Your social schedules in many condo communities can be as full or free as you like, and you'll have more time to engage or spend downtime at the beach or poolside.

In addition to the personal benefits, downsizing might be more cost effective, too. From the New York Times, “Many downsizers expect to improve their retirement income stream if their new home costs less than what their old house sells for...” Upkeep, utilities, etc. in a smaller home is likely more affordable and typically, fewer items needing out-of-pocket replacements.

Of course it's hard to say goodbye to a place that holds all your memories of building a life, a family, and the years of investment - both financially and emotionally - but real estate investment will now pay long-term rewards, and anticipating a new place to start a new chapter in your life can turn a sad goodbye into an exciting hello.

Curious about your current home’s equity and how well you can leverage it? Let’s connect to explore your downsizing opportunities. Call or email me at beverlysthilaire@michaelsaunders.com or 818-416-2505.