Rightsizing is the act of creating a lifestyle that aligns with where you are at in your life. Many homeowners across the U.S. take this big step every year. You could be empty nesters or retiring soon and wanting to become snowbirds. Or maybe you are looking for a low maintenance lifestyle. Whatever the reason, if you are looking to rightsize in 2021, there are three things you need to consider before you begin the process.
Length of time in the home
The future is hard to determine; however, what do you ANTICIPATE happening in the future? Think about how long you plan to live in the home before you rightsize. Are you an empty nester who is looking to downsize your space? Do you see yourself moving to a warmer climate after you retire? What you want in a home over a five-to-seven-year period will be much different from what you want in a home if you plan to stay for long term.
Determine what you need
Most homeowners don’t daydream about buying a smaller home, but there are benefits to minimizing your space. Villas and town homes typically offer some home services for its residents for a monthly fee. Mowing, snow removal, outside maintenance, etc., are typically offered and can be quite beneficial – especially for those nearing retirement and who plan on traveling. If you plan to stay in the home for long term, consider a ranch or 1.5-story home rather than a two-story home.
Don’t downsize too much
Your kids have moved out, and you are now empty nesters. It’s time to celebrate, right? While it’s nice to have the house to yourselves, at some point your kids will return – possibly with a partner and kids. If you downsize your home too much, you’ll find family holidays and get-togethers getting a little cramped.
Knowing when it’s the right time to rightsize doesn’t make this drastic lifestyle change any less overwhelming. But if you evaluate your needs, wants, and goals for the future, you can make the process a little less stressful.
The Blythe Real Estate team has helped people in the Omaha and surrounding areas buy, build, and sell homes since 2000. Our team of leading real estate agents will provide accurate information, industry knowledge and expert real estate advice to ensure you understand the process — from start to finish.