Are most people still downsizing?

[SandyinMonterey]

With our daughter going to college next year, we've had a few discussions. Downsizing is something, I think, we both thought we'd always do. We have a very large house, 5 bedrooms, 6 bathrooms, finished basement, big yard (a lot of yardwork) and in ground pool and it's 7500 square feet. But, we've put so much money into remodeling and fixing that we've considered staying. There is an option to stay in a bedroom with bathroom on main floor (we have 3 levels). I friend of mine is a realtor. She told me some clients of hers were looking to downsize. They looked around, didn't like anything and definitely didn't like the cost so they decided to age in place. Put the money into the house they live in to make doorways wider, bathrooms larger with safety features, etc.

 

[tzolkin]

We already downsized in 2019 even though two of the kids are still with us. We just decided that the larger/more expensive house was unnecessary and we had some other financial goals (more travel and early retirement) so this was a good move. There is definitely a lifestyle difference due to the location and the other house was much better for hosting guests, but for our normal daily life this house feels more comfortable and suits us better.

We bought a house that we are currently using as a short term rental a little over a year ago. Depending on how the future unfolds, we may wind up downsizing again to that house. It's right around 1000sqft and in a city so it's walkable. It's also less than a 5 min drive from my husband's work. That said, at the time of purchase that house was more expensive than our current house so if it were purely for the purpose of downsizing from this house to that one, we would probably not have bought it.

 

[starry_solo]

Not until its time to move into assisted living...

 

[Kae]

I think we would stay the same size, but I would like a house with a main level Master Bedroom

 

[Minnesota!]

We have always lived in a small house - under 1000 sq feet - and we have big, noisy children. So, not necessarily downsizing, but I want to right-size. I want something with a layout that works better - main floor laundry, few stairs, more than 1 bathroom, etc.

 

[nene0182]

We don’t plan on downsizing unless it also includes moving away from the area we live in. At this point with the price of housing in our city, it doesn’t make financial sense for us and we’d end up spending more money for less room.

 

[DLgal]

Nah, we are gonna upsize when we finally buy a home. Our kids have support needs that will continue long term so we need a house large enough for all of us to live in. The house we rent now is too small for our needs.

What I AM looking for, though, is a house with a first floor master and the living area all on ground level. When we get old and frail, I don't want our house to become inaccessible to us.

If we weren't in this situation, in old age we would 100% move to a small condo somewhere that we would have ZERO outside maintenance/upkeep required. As it stands, we are leaning towards buying a condo anyway, for just this reason. Thankfully, many homes here are categorized as condos even if they are detached, and they come with all the outdoor maintenance included in the HOA. This is the kind of home we rent now and not having to ever do any work outside the house is nice. I never want a yard again.

 

[Pooh2]

We bought our house 35 years ago and raised our 3 kids in a 1200 square foot home.
It felt kind of small while the kids were home but it is perfect now for two of us.
We will stay here as long as we can do the upkeep.

 

[Kitty 34]

Our house is small with a huge yard, not counting the woods behind. We did add on once when the boys were very young. Now that they have all left the nest we turned the one bedroom into "my room" with piano and of course my computer; another bedroom into DH's man cave and the third bedroom is still a bedroom where the grandkids sleep and play. As we get older we will probably hire people to help with the huge yard but right now DH still loves doing the mowing, leafing and snow removal.

 

[mrodgers]

We never bought into the McMansion thing. Couldn't afford it anyways. Raised our 2 daughters in 1007 sq. ft with a single bathroom. It would have been perfect after the kids left. We didn't even have a dining room and knocked the wall down between the kitchen and living room so we could have a place for a table to eat.

Now I am desperate to upsize from what I'm stuck in now. I don't really care about what I live in, it's the property. I need my own as my life was growing my own food and using my property. I don't have that any more. Everyone scarfing up properties at dollars on the penny took that away from me.

The oldest is pretty much gone, spends about 25% at home, but that's at mom's in that small house. The other one is away at college and comes home every weekend. Also at mom's. I don't have much of a place for them.

 

[lovesmurfs]

This is our year of decluttering. DD graduates from college in December (Lord willing...). We're tired of Chicagoland winters, and our office, since the pandemic, has allowed long-distance commuting in our new hybrid workplace (at our cost).

Actually thinking of Florida, but I don't think we'd actually downsize (we're in a 3-bedroom, 2 bath older home). I want a patio/lanai, and DH and I need separate offices (can't work while he's playing tank games/practicing trumpet, etc.).

Would love a 4th room for guests -- we do have a cabinet bed (queen-size) in one of our offices, and thinking of that for the other office as well.

Prices went WAY up in Florida a bit ago, but looking recently, looks like they're starting to go down a little. We'll see. Not interested in moving before 2024. And we have a new grandbaby in the Chicagoland area, so there's that.

 

[NYCgrrl]

I planned to downsize from the moment we moved into the family sized coop ( simIlar to a condo). The Man didn’t agree with my reasoning but stoically trudged behind me when the time came, LOL.

Freed up funds, easier to clean and a new life perspective and vista. Win win from my POV.

 

[Mackenzie Click-Mickelson]

We never bought into the McMansion thing

You don't have to in order to eventually downsize. It's all about your needs over time. Even my mom in a smaller home doesn't necessarily want the space she has and thought about moving into a townhouse. Other people may move into condos. Others may move into assisted living.

 

[HeatherC]

We are in the process of downsizing. Started donating stuff and boxing stuff to keep to a storage unit in May 2022. Now we are prepping the house for sale. Building a smaller house in a 55 plus community near where we have been vacationing for years. I am seriously thinking about just moving stuff and not furniture. The more I get rid of, the easier it becomes.

Even not moving I LOVE getting rid of stuff.

 

[HeatherC]

With our daughter going to college next year, we've had a few discussions. Downsizing is something, I think, we both thought we'd always do. We have a very large house, 5 bedrooms, 6 bathrooms, finished basement, big yard (a lot of yardwork) and in ground pool and it's 7500 square feet. But, we've put so much money into remodeling and fixing that we've considered staying. There is an option to stay in a bedroom with bathroom on main floor (we have 3 levels). I friend of mine is a realtor. She told me some clients of hers were looking to downsize. They looked around, didn't like anything and definitely didn't like the cost so they decided to age in place. Put the money into the house they live in to make doorways wider, bathrooms larger with safety features, etc.

Funny you mention this. When we built our home 22 years ago, my FIL was in a wheelchair. We decided then to make our doors wider and put a full bath on the main floor with a walk in shower. The idea was that we could always age in place if we needed to or if someone became sick. Looking back I am very glad we did it. Right off the bathroom is a den which could be our bedroom if needed down the road.

At this point, we are thinking we may just rent or buy a property down the road so we can snowbird. Plus, if we have grandkids we will definitely want to be around for that.

 

[Pea-n-Me]

We’re thinking it through. Our basic house is fairly small to start. We added an in-law apt onto it (almost 30 yrs ago now, and fully handicap accessible). DD will be renting that (at low cost) in order to save for a house. (As you know, OP, housing costs are crazy here and it’s very hard for the younger set to cough up a down payment and absorb housing costs here today.) I’ve sometimes wondered whether it might make sense to keep our house so that we could actually use the in-law ourselves some day down the road (if one of our kids is interested in living in the main house - we will have to see). But the whole house needs decluttering, repairs, a few upgrades and ongoing yard work, snow removal, fencing, etc. We do enjoy a pool, screened porch, front porch, deck, fire pit, family room, sunroom, etc., and all of those amenities we already have here can be hard almost impossible to find In one place if we buy elsewhere. (I look all the time.)

OTOH, I would love something smaller and newer, in an area we’d like to be, preferably a condo. But a lot will depend on where our kids wind up, as we’d like to be near them if possible. (All indications seem to point to them staying fairly local.) We plan to be involved grandparents if we’re blessed with that someday. (We had kids a little later in life so ours are still somewhat young compared to many other people our age.)

Another issue we have is our dogs. We’re dog people and will probably never be without at least one. Currently we have two. One is 9. We rescued another last year who we were told was 8. That worked, timing-wise, for us (figuring we’re not doing anything, really, for a few years). Well, we got that dog and lo and behold, he’s probably more like 3 or 4, so he’s got a longer life expectancy with us than we’d thought. (And we won’t give him up.) If we do ever get a condo, I would like one not only in the area we like, at a cost we can afford (which may work out if we sell our house), with a layout we like, and with at least a small yard for the dog(s). Not to leave dogs out there alone, but a place for them to go to the bathroom that doesn’t involve walking in the middle of the night!

I haven’t seen anyone else here mention the pet factor, but we can’t be alone in that, can we?

FL is a possibility, keeping an open mind about it. Kids might be interested, too. Another thought is possibly a condo there, but I’m not sure we’d be able to afford that unless we stay put where we are now, but that is another possibility.

I will say that, as a nurse, and taking care of my mother at home with us until she was 94, and seeing all the issues we had to deal with medically with her, my eyes are fully open to what potentially lies ahead for us as we age, so I want to make wise choices as we go forward, both for us, and for our kids. What that is, I’m not really sure. But first step we have, regardless, is decluttering, and we’re working on that. We bought a trailer for weekly dump runs and have been donating a bunch. We have a long ways to go, though, still.

 

[SandyinMonterey]

Funny you mention this. When we built our home 22 years ago, my FIL was in a wheelchair. We decided then to make our doors wider and put a full bath on the main floor with a walk in shower. The idea was that we could always age in place if we needed to or if someone became sick. Looking back I am very glad we did it. Right off the bathroom is a den which could be our bedroom if needed down the road.

At this point, we are thinking we may just rent or buy a property down the road so we can snowbird. Plus, if we have grandkids we will definitely want to be around for that

Many years ago when I was starting my career, I worked with a woman whose children were out of the house and contemplating the next stage of her and husband's life. She said she was building a new house, right next door to her old house and making it all handicap accessible. As my young self, I couldn't understand, but now I do.

 

[TAX GUY]

We did, last year (December 2021). Our son graduated HS in May 2021 and left for the Air Force later that summer/fall. We had planned on downsizing when he finished school, and we did. We had a multilevel, 3100 sq foot colonial, end of a cul de sac with about 2.5 acres of land. We had the house built in 2003. We kept up with it and had just remodeled the kitchen prior to listing it (that was our plan so it was fresh and modern).

We found and bought a ranch style home that is 2200 sq feet. It was only 2 years old, with no expense spared when it was built. 50 year roof, 50 year siding, oversized septic system, automatic generator, central air, etc. It sits on 3 very private acres of land, and I also now have more garage/shop space which was something I really wanted. Add to that, this house is far more efficient so our utilites/heating/cooling are much less too.

The recent market allowed us to sell at a much higher amount, and we were able to buy at a comparable price. For us, it made sense since we were able to get the style house we wanted (one level) and it being much more modern and efficient.

 

[Pea-n-Me]

Many years ago when I was starting my career, I worked with a woman whose children were out of the house and contemplating the next stage of her and husband's life. She said she was building a new house, right next door to her old house and making it all handicap accessible. As my young self, I couldn't understand, but now I do.

My mother lived with us for 25 yrs in an in-law apt we had built, all to handicap specifications. For 24 of those yrs she laughed at the thought of using any of it, as she was spry and independent, still shopping and cooking, etc. Until she 1) broke her hip and 2) got diagnosed with cancer, all within a few months of eachother.

They would not let her come home from rehab after hip repair until both an occupational and physical therapist came to the house to inspect where she was coming home to and to see if it was safe for her. They could not believe it, saying it‘s rare to have a set up like she had. They still had us do a few things, though. We had to unplug the stove (as she had suffered some delerium with the surgery and medications); add a bar to hold onto by the toilet; add a bar to hold onto coming into the house (one stair); and to get kitchen chairs that had arm rests on them rather than armless. That was all they could find.

Months later she started hospice, and we were able to keep her at home for the duration. She had never used the seat in her shower but we used it a lot that last year. It was the only way we could shower her. There was also plenty of room for medical equipment and it all fit through the doorways and such.

It was really a blessing to have it when we needed it.

 

[White Cat]

Don’t know what overs are doing but we sure did.