It may be time to consider rightsizing your home. There could be several reasons for right-sizing your home. Are you spending too much on your water and energy bill for just you and your spouse? Does living alone raise personal concern for your safety and security? For those who lead an active lifestyle, your home could be far from the rest of the community. For those with a big mortgage, reducing or eliminating this payment early in retirement can have a significant long-term impact and make retirement possible.
Baby Boomers are beginning to retire en masse. Most Boomers are homeowners today and will remain so in retirement. However, the majority are expected to sell and downsize. . . Nearly half are expected to relocate from the suburbs to more convenient city-living. Source: First Tuesday Journal, the California Real Estate News Source
Innovative thinkers may have a mindset to upgrade to a sustainable, energy-efficient home and consider a home that offers visitability for friends, family, and health needs down the road and walkability to stores, entertainment, healthcare, and transportation. With the current economy, financial strain of affording your home may be a stressor you could live without. The possibilities for choosing to rightsize your home are endless.
For more about rightsizing, see:
- Tips on what to look for when you’re shopping for a new home by Wardell Builders
- Five Ways to Rightsize Your Space by Deborah Moyer, professional organizing expert
- Home buying incentive programs by MDC Financial
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