Thinking about downsizing soon? If the answer is yes, you want to look into all of the factors you need to consider before committing to downsizing.
Factor #1: Leaving Your Empty Nest
If you live in the suburbs with two extra bedrooms your now adult kids left behind and a yard that is getting increasingly more difficult to maintain, it may be time to transition into the condo life (bonus points if you live on a farm and have acres to maintain instead of a lot).
The effort needed to maintain your property has to be worth the trade-off of how many times you have visitors staying the night in your extra bedrooms, or your passion for the outdoors and gardening if you’re going to upkeep your outdoor living space.
Factors to consider:
- Do you utilize all of your outdoor space and can you maintain it by yourself?
- Do you utilize each bedroom in your house year round for guests, hobbies, etc.?
- Is there clutter and chaos in your current situation you know you would be better off without?
Downsizing to a condo brings the obvious benefits of much less space to maintain and having your grounds and exterior kept by the condo association. You only have to worry about the space right in front of you.
Downsize if you have no use for the majority of your space.
Don’t downsize if your house and outdoor space bring convenience to your life and you enjoy the upkeep.
Want access to the other top 4 factors to contemplate?