The kids are grown and out of the house, now what? So how many kids were there? One, four, ten? Most likely it was about three, well at least that’s about the national average. With three kids you probably have a three to four bedroom house, or maybe larger, plus a big yard and a 3-car garage. Now that the kids are out of the house, what are you going to do with that huge house?
You could keep it. Is it paid? If it is then you have no mortgage. But what other expenses are you looking at? You still have property taxes, until you die. You’re also looking at maintenance (roof, landscape, paint, plumbing, electrical), heating and cooling of a large home, and cleaning. Does all that seem worth it? If it does, then read no further because you are on the wrong website (try homedepot.com). If this sounds horrible, then keep reading.
Now that the nest is empty, you might want to look at a moving to a new nest. I touched on this a little in my blog titled Downsizing. Many fear moving to something smaller and more manageable, but why should that be a fear. We adjust up to meet our life requirements, so why shouldn’t we adjust down.
For those of you that are excited that the kids out, think about this next statement. If you downsize, and you have no extra space for guests, how can the kids move back home? That’s right, with a smaller home, there is no room for the kids to move back, except for maybe on that uncomfortable couch. See how long that kid wants to live on the couch. OK. that’s a fairly cynical statement, and it is extreme, so the question for you would be “what do you need in a home”? Is it what you have, or is it something smaller? If it is something smaller, then make it happen.
Many people like to keep that huge, unmanageable home just in case the kids want to come visit, or oh my goodness, the grandkids. But how much room do you really need? If it’s something larger to host those 87 grand kids, then, well, that’s the way it is. That home that was great for raising a family may not be what you need moving forward. So pass that home to the next family and go find your bliss. Go find that perfect home for who you are today. Remember, Motel 6 is just down the road, and they’ll keep a light on.
What are you going to do? I know many that have sold it all and moved to where the weather is better. With a smaller home you just might be able to travel a little more, and maybe even snowbird it to follow the weather. There are many options for you, but if you stick yourself with that huge, expensively unmanageable home, some options may not afford themselves to you.
If you are in this situation, or have been through this, please comment below. Many are reliant on the experiences and input of my readers. Please share!