With high demand and some of the lowest mortgage interest rates in history, this is a great time to be downsizing and selling your home. But before you hang a FOR SALE sign, consider your lifestyle goals and where you are heading for the next stage of your life.
Your options are many… it could be a one-level home, condo or townhouse, a 55+ retirement community, a tiny house, an RV or even a houseboat to name a few. As enticing as some of the options may be, first consider your lifestyle goals for after you sell your house.
Lifestyle goals often sort into these main categories…
LEISURE RETIREMENT COMMUNITY LIFESTYLE
Del Webb started its first “active adult retirement community” in 1959, in Arizona. Today there are are many senior living communities throughout the country for people age 55 and over, including multiple options in the Twin Cities. Some have an emphasis on leisure activities, but nearly all have a focus on shared community. Shared amenities might include walking trails, swimming pool, fitness center, tennis courts, golf course, lake access, and much more. Shared community opportunities often include scheduled activities both onsite and offsite, including shuttle services.
Leisure lifestyle may also translate to an independent condo, townhouse or house in a leisure destination, such as oceanside or lakeside.
URBAN LIFESTYLE
While there are some urban retirement communities, many people choose to live independently in a condo or townhouse with mixed ages in a walkable urban setting with restaurants, libraries, theaters, coffee shops, shopping nearby. There may be college/university offerings, arts and entertainment opportunities, sporting events, neighborhood senior centers, special interest groups and other volunteer opportunities for building neighborhood community.
FAMILY LIFESTYLE
Gathering Space – cross-sizing rather than downsizing is the answer for some empty nesters as room for expanding family units to gather becomes a priority and space is shifted from bedrooms to larger living/dining/kitchen/family room space
Grandchildren – I work with many empty nesters moving to be closer to their children with the purpose of helping with grandchildren… this relationship can work both ways as it helps grandparents stay young and helps parents stay sane
Aging parents – sometimes the reason for a housing shift is because of aging parents who need help… whatever your reason, make sure everyone has the same expectations
TRAVEL LIFESTYLE
Travel as top priority can mean different things to different people. It could mean having 2nd or even 3rd homes in different destinations… it could mean having a space to park an RV… it could mean choosing a place to live near an airport… it could having a home that could become an Air BnB while you are gone… it could be volunteering in different parts of the world, or even serving as a medical courier… it can also simply mean carving out time for travel as part of another lifestyle.
The Bottom Line
The bottom line is, be intentional about the lifestyle you would like after you downsize and choose where you want to live with that as your top priority. The possibilities are limitless. Don’t blindly move forward without considering your lifestyle goals for after you downsize and sell your current home.
Contact me to get together to discuss what’s next. I also work with a life coach who can help you in your decision-making process.
Sharlene Hensrud, RE/MAX Results – shensrud@homesmsp.com
RELATED POST
