Downsizing the Family Home
Are you at a point in your life where the kids have grown up and your huge family home is too much of a hassle? Downsizing the family home may be a great option for you!
Once your kids move out, a larger home can become an even bigger problem for some parents. You may be coming up on retirement or looking for a simple change that makes financial sense for you and your loved ones.
Why Downsizing the Family Home Works
Downsizing has become very popular in recent years, and financially, it’s the perfect option. Additionally, you won’t have to deal with the stress of keeping up with a big house any longer.
Maybe you want to travel more often after retirement and won’t be attached to your home? Possibly looking to simplify things and save money? No matter why you’re looking into downsizing the family home, the benefits are apparent. These include:
- Less maintenance
- Financial advantages
- Reduce expenses
- Change in scenery
- More control and leisure
With so many benefits, what are the negative aspects of downsizing later in life? For starters, you will have to get rid of a lot of stuff you don’t need anymore, some of which may have sentimental value.
Moving can be an irritating and stressful process and you may need to purchase new furniture. Finally, it’s difficult to leave the home where you watched your kids and family grow, and this adjustment can be an emotional time for everyone.
Adjustments From Downsizing
Downsizing and relocation will require adjustments to help with a smooth transition. First of all, saying goodbye to the family home can bring about feelings of sadness and possibly regret for leaving.
Once your move is complete, the real fun begins. Typically, downsizing will open up your income, giving you more money to invest and enjoy. Reward yourself with a vacation or shopping, but be sure to have a financial plan in place for the future.
Settling into a new home is exciting, but your old routine will change in the process. Enjoy this time to learn more about yourself and this new exciting chapter in your life.
Insight From SBH Coaching
Downsizing the family home doesn’t have to be overwhelming! At SBH Coaching, we’ll give you the tools to enjoy this transition and encourage you during the journey!
Moving is a life-changing experience, and downsizing may be the perfect fit for you at the end of your career, or after your children have grown up.