Many retirees or empty nester baby boomers only think about rightsizing (the word ‘downsizing’ does seem to have a negative implication) when less than favourable circumstances eventuate, such as ill health, or difficulty managing the increasing running and maintenance costs for their large home.
Some wait until the family home is worth $X before making the move. This can be false reasoning because as we all know, usually when your family home finally reaches this magic number, what you are considering purchasing also has gone up in price.
Although it can be difficult to let go of things that hold sentimental value, the joy of freedom can suddenly provide a whole new positive aspect to your lifestyle. I remember the difficulties when our family proposed our mum downsize to a more suitable home. Yes there were all those sentimental issues that needed to be dealt with however after a couple of garage sales it whittled down to a manageable level and even has allowed her to have more practical and updated decor. She now really enjoys living in her new home and the lifestyle if offers for her – she loves her new art studio too!
Embrace the opportunity to join the golf club, enjoy gardening rather than it being a chore, play bridge with friends, take up learning a new language, develop your artistic flair, hook up the caravan and travel more to see family or go abroad and so on……..and you are also likely reduce or even eliminate some of those costly bills. Your lifestyle truly becomes your own……you begin living the dream!