As you move into your retirement years, you may find yourself reassessing your life and making decisions for the few next years. You may decide to quit your job, start a new business, or devote yourself to a passion you never had time for. As you are making changes, is it time to divorce your house?
When you think back to when you bought your house, you may remember why you loved it at the time. It was probably not your first home, as most people own more than one. You probably bought it to meet the needs of your family at the time, so it may be roomy, have a big lot, or have other features that were just right for your growing family. How you loved the place when you signed the mortgage payment! You may look fondly at your years in the house and think of the milestones you passed there.
You have to ask yourself whether you still love the house, or just the happy memories you had there. How do you feel about the place when you strip all that away? You might uncover some harsh realities if you ask yourself some serious questions.
Do you need all the room? Extra space costs money to heat and cool and time to clean.
Is the space you have the right space for you? You may want a large kitchen or family room, but not need four bedrooms.
Do you still enjoy having your large yard? Having a garden can be enjoyable, but a big yard can be a burden to maintain.
Is your home is good condition? You expect periodic maintenance, but the longer you live in a house, the more likely u have to replace the roof, furnace, another major systems again.
Will your home work as features such as steps become an issue? You may be able to add some upgrades to your home so can age in place, but this is not always enough. Doorways are often not wide enough for wheelchairs, while steps can become challenging.
When you think about the demands placed on you by a large house, you may start to feel a bit resentful. Even if you are in perfect health, spending your time and money on a big house limits what you have available to travel and do the other things you have planned.
