Once the children fly the coop, empty-nesters find themselves in a position where they no longer need the space they once did in their child rearing years and consider downsizing. Once you have made the decision to downsize, it can be challenging to know what the next best move is for you. Here are 5 tips that can help guide you toward a destination.
Have you always wanted to live by the ocean, in the mountains, a warmer climate? Maybe you love the hustle and bustle of city life or want to buy a smaller home in a community closer to children and grandchildren. Spend some time contemplating how you envision your future. It’s truly up to you at this stage.
This one goes hand-in-hand with location. Are you an outdoorsy type who loves a good hike or kayaking? Is culture and accessibility to restaurants, shops, and stores important to you? The type of lifestyle you seek will help determine which location will be right for you.
Consider how much space you will actually need. Would a one bedroom suffice? Do you have extended family you would like to accommodate from time to time? Perhaps you don’t need the square footage you once did, but you would like a large outdoor space. Are you done with the maintenance of a big yard and ready for a luxury building where any maintenance is handled for you?
The majority of empty-nesters make the switch to one level living whether that’s a single-family home, townhouse, or condo. Open floor plans conducive to entertaining are also popular with this demographic.
Empty-nesters may be ready for less square footage, but they tend to still want some conveniences such as on-site garage parking. They may also be looking for luxury amenities, such as fitness center, media and club rooms for larger gatherings, and maybe even a pool and other.
While this next chapter can be very exciting, many clients say they just don’t know where to begin. It may seem overwhelming early on and even throughout the process, but I’ve guided many empty nesters through each stage. Please contact me to get started on your adventure of purchasing and owning your new home.