Most of us have heard the term “empty nester,” and whether that has a positive or negative connotation to you, probably depends. It could mean that you now have more space and look forward to hosting your family and grandchildren for years to come, or it could mean you have more space that requires financial and physical strain to upkeep. Whatever being an “empty nester” means for your living situation, it is a life adjustment nonetheless. Everything changes when the kids leave the house and venture into their own new homes. While some of you may be thinking, “Yes, we can finally convert Justin’s room into my man-cave,” others may be thinking “I feel lonely in this big house and am tired of mowing that gigantic lawn.” Whatever your situation, you are likely asking yourself what makes the most sense for you and your spouse at this time. Will you sell, or will you stay in your family home? Only 10% of baby boomers actually want to move into a senior living community, which means the rest are looking for a place to settle that will accommodate them with age.
Pro’s to “Downsizing” and Finding a New Home that Fits Your Lifestyle
- Relocate to be near loved ones: As your children go off to college, marry, and maybe relocate for jobs – it’s not uncommon that they will settle in an area different from where they grew up. Many times, this even means out of state. For some, the location you live in is more important than the size of the space. If you’re retiring soon, you may want to relocate to be closer to your children, grandchildren, or other friends.
- Smaller doesn’t mean less: As your needs and lifestyle changes with aging, you can benefit in selling by finding a place that suits your current life. Many baby boomers aren’t afraid of a little renovation to get the home they truly want…because what was important when they purchased a home to raise kids in, may now be irrelevant. Empty nesters may be looking for less house, but they still want a high level of finish in the home they choose. You can simplify your space without sacrificing beautiful quality and the touches you’ve grown accustomed to!
- Say goodbye to commuting: A highly sought after trait in a home to retire in revolves around being “closer to the action” and worrying less about long commutes. Many empty nesters who think they may retire soon are looking for a new “forever home” that will make life moving forward more convenient. And if your family home is in San Diego, we can’t blame you for growing tired of the traffic! Like millennials, empty nesters are moving to urban-core areas where they can enjoy walking/short distances to good restaurants, work, cultural centers and parks.
- Convenience, please: Many who seek to downsize are really just looking for more convenience and less hassle. A large two-story house with a big yard was probably great in raising your kids, but now, it’s a lot more house to clean, tending to the yard is tiresome, and some of the space is just not utilized. For two people or less living in a 3000 square foot home with a yard means a lot of time spent on upkeep and maintenance. And while less space is a part of “downsizing,” baby boomers are also looking for different qualities in the space they are seeking. For retirement, a one-story home or “ranch-style” house is something that would make more sense for the long-term and is often non-negotiable.
- Reduce living expenses: If your kids are out of the house, you are probably at a point in your life when you’re looking at what retirement will look like financially. Working within what will often be a smaller monthly budget and less cash flow, means you should consider cutting down your monthly expenses. So, in finding a new home to settle in, consider neighborhoods that are overall more affordable (meaning more of your home sale profits can go into your savings account, versus another piece of real estate). Or, consider how you can cut down monthly home expenses like utilities, property insurance, real estate taxes, repairs and maintenance, and a possible home equity line of credit.
Selling Your Empty Nest So You Can Buy a New Home
Parting ways with the home you raised your family in is never easy. But, the selling process at least, can be made so. If you sell directly to a cash buyer like us, you don’t have to worry about all of the prep that typically goes into listing and then showing your home. It’s simple, really. You can close on the date of your choice, and get cash for your next home…making your move and transition as stress-free as possible.
We know you will probably have a lot of packing, sorting, and then unpacking to do. For some, going through all of the things that you have accrued over the years and letting go or giving away some of it that isn’t needed, will feel really liberating. Who knows, maybe you want to sell and just start completely fresh in a new home with new things! In that case, you can leave whatever you don’t want and we will take care of it. Again, making things very simple.
Plus, if you don’t have your new “forever” home lined up, we can help with that as well. We know tons of real estate professions in San Diego County, and in areas across the country, so we can connect you with someone to help in the search. Downsizing from an empty nest can come along with a negative connotation. But, finding a new home that fits your current lifestyle may be more redeeming and exciting than you anticipate. We’ve heard the term “Rightsizing,” which we think sheds a much more positive light on this new venture you’re embarking. So, if you’re looking to sell due to “Rightsizing” for your lifestyle, we’d be happy to help.Views: 8