Have you grown out of your house? Or has your house outgrown you? Either way, you might need to consider rightsizing your life.
Let’s be clear – right sizing might be downsizing, right sizing might be getting a bigger home or right sizing might simply mean you need a home that functions the way you need it to.
Some people love getting rid of the open concepts after kids are gone – because they love hosting and having some separation in the home.
Some people love buying a bigger home with less outdoor space. However, when the kids come home for visits with their families, they feel pinched for space.
Whatever your current situation is, it’s important that you feel great inside your home. If you do. Problem solved. Stay put.
If you’re not feeling like your current home is best suited for you, it’s time to look into the option of moving.
The House Is Feeling Too Big
We hear this a lot. Sometimes, your current home really is too big for two people. Sometimes, the stairs become problematic and the yard is too great to take care of. Also, do you want to spend all your time doing yard work in the golden years? If you do, stay. If you don’t, here is one reason to consider right sizing.
The Yard No Longer Works
Maybe it’s not the interior but the exterior that is no longer working for you. Is your yard too big?
Do you have a 3 or 4 car garage so all of your cars could fit and now you and your spouse share a car?
Do you want to keep cleaning a pool, paying for chemicals and maintenance on it when no one’s swimming in it? Some people love the memories and want to keep this for their grandkids but when they do the math and find out the cost, they realize they are better off swimming at the community centre and taking the kids out when they come. Especially in Saskatchewan when the winters are brutally long.
You’re Trying to Reduce Your Costs
This happens a lot as people get older and they live on a fixed income. It’s nothing to be ashamed about and it’s nothing to worry about. However, a big reason people reduce costs is so they can travel more. If you find yourself in this category, it’s time to reconsider your house size.
Maybe you don’t have quite enough to float yourself for the rest of your retirement years. Or maybe you could use the cash for the traveling you want to do, or pay for medical costs, or help adult children start their lives?
If any of those reasons resonate with you, selling your home and moving to a smaller place with less overhead is one way to ensure that you have the money you need.
Your Lifestyle Has Drastically Changed
After spending years in the suburbs, in your car driving children all around your city maybe you are craving a more walkable downtown existence?
Sometimes, your spouse’s mobility plays a part in this. Sometimes they need more support and will be relying on you more than ever. This might also mean more appointments at the doctors downtown or even the hospital.
If downtown prices are a bit forbidding, try checking out more up-and-coming neighbourhoods where housing prices are more affordable or more established neighbourhoods that get you more for your money.
As an added benefit, buying in a neighbourhood that’s currently less prominent but starting to grow means that your investment in this new property has even more potential to appreciate.
In the end, you know what’s best for you, your children, your family and your future. Whether that means simplifying your living space, buying a larger house or pitching in to help a family member, there are many avenues you can take. And ideally, the home you end up with won’t be too big or too small. It’ll be just right.
If you need help “right sizing” your home do not hesitate to reach out. As always, we are here to help.
Gregg Bamford and Ryan Bamford