It happens to all of us. As we get older, the prospect of joining the ranks of the retired in Kitchener-Waterloo becomes something we have to deal with.
No doubt retirement can be a beautiful experience. But you will also have a number of decisions to come to grips with. One of the most important is whether and when to change to a smaller home.
Here are some suggestions why you probably should give some thought to downsizing sooner rather than later.
1. Now that it looks like we are clawing our way back from the economic slump of the last few years, you can still find a good number of inexpensive alternatives. In many sections of the country real estate prices are still low and so are interest rates. If you need to borrow money to afford a newer, more convenient house, this is the perfect time to do it.
2. You got into your roomy home with the over-sized lot so you would have enough space. Now that your kids are off on their own all that space is becoming a burden. There’s no sense continuing to fork out good money for heating, cooling, maintaining and paying taxes on more space than you need.
3. Today there are arrangements that cater to any style of living you can think of. What a baby boomer should be trying to find is a smaller home that requires a lot less maintenance. It will cost less and you will have a lot more unoccupied time where you can do the things you especially want to do.
4. Think about the hobbies you like the best and downsize accordingly. If you enjoy having a garden, be sure to have enough space to grow a garden. Or if you travel a lot, you should get a home with enhanced security so you can go traveling for considerable periods of time. If entertaining friends is something you do a lot of look for a place with a roomy patio.
The time will come for most of us when we move from our homes into a more efficient arrangement. And there are lots of good reasons to do it sooner rather than later.
