A recent poll found that 31% of homebuyers of regret buying a home that was too small.
I specialize in working with Empty Nesters. If you think you should downsize when the kids leave home, let's think about why moving to a smaller home might not be the best option for you.
When our sons flew the coop, Rick and I left Texas and moved to Utah. We downsized (because that's what Empty Nesters do, right?) and bought a precious, one bedroom, mountain cabin. It was cozy and had stunning views of the mountains and lake...it was perfect for us. But, what we failed to consider was that the kids would want to visit...and so would our friends. Rick and I love hosting family and friends, but our small home was too short on space. We figured out pretty quickly that a smaller home wasn't the right move for us.
A year later we sold the one bedroom cabin and moved to a five bedroom home in the same neighborhood. I was afraid a bigger house would be too much house, but that hasn't proven true. Our living area, kitchen and master bedroom are all on the main level, so we pretty much ignore the downstairs until we are expecting guests. This year we hosted my family for Thanksgiving and then had a neighborhood party for Christmas. We would never have been able to accommodate that many people in our small house.
We still have oodles of friends and family visiting, but now we have enough space for everyone to feel comfortable.
So the moral of the story is this-Downsizing may not be the best move for you. Carefully consider your situation.
When you're ready to talk about emptying the nest and moving to a new home, call me. I'd love to chat!
Engel & Voelkers Park City, UT