Real Estate Tip – What To Do When The Kids Fly The Coop
Being left at home with an empty nest can be a major adjustment.
When your children finally leave home, you’ll be presented with a new found freedom and a variety of unexpected challenges.
Many empty nesters find their homes are too large once their kids move out and therefore opt to buy a smaller home in order to gain capital and reduce maintenance costs. These days though, some parents are hedging their bets in case their kids decide to move back in.
Deciding to downsize or stay put depends on your unique situation as downsizing isn’t always the right move, pardon the pun. It pays to closely examine your finances and motivations. Here are a few tips if you’re thinking of downsizing:
- be clear about your reasons as it’ll help with your new home search
- consider a condo if you plan on traveling as there’s very little maintenance
- plan ahead for the years when stairs will become a challenge
- make sure your new abode has room for future grandchildren 🙂
It’s a huge adjustment when the kids fly the coop but it’s also a great opportunity to pursue new hobbies and think about your own needs. If you’re not quite ready to sell up and move on, consider transforming an old bedroom into your very own personal retreat.
Whether you decide to sell or not, it’s a great time to declutter your home when the kids move out so go through every room and get rid of anything you no longer need. Whatever you do, just make sure you turn your new found freedom into a positive experience by focusing on yourself.