Across the country, a significant life change is one of the most common reasons for people to begin searching for a new home. For many, buying a new home makes sense when the kids leave for college or start their careers. After all, the empty-nest years are a time for many parents to look toward the future and reconsider the type and size of home they need.
If you are preparing for an empty nest, now may be an ideal time to consider downsizing your home. Looking ahead, you and your spouse may want to discuss several factors, such as these four:
As your children leave home, this lifestyle shift can present a good opportunity to assess your expenses. Would this be the perfect time to choose a smaller, more affordable home? How much money could you save in mortgage and energy costs by downsizing?
Homes like The Caldera offer plenty of functional space, with three bedrooms and two baths, an open great room, and a spacious kitchen. As a 1,833-square-foot, one-story home, this type of design would keep heating and cooling costs to a minimum.
Your Evolving Lifestyle
Think about how you want to spend your time as an empty nester. You might be excited to start traveling more, entertaining frequently, or focusing on your hobbies. Think about which type of home would suit the lifestyle you’re about to embrace.
For many homeowners, it isn't very sensible to spend a lot of time and effort cleaning and maintaining a huge home at this stage of life. Why would two people keep a 4,000 square foot house? It’s no wonder that many empty nesters downsize to homes to the range of 1,000 or 2,000 square feet to reduce the amount of upkeep. This simple change could profoundly impact your life, freeing your time to focus more on the things that you love.
For example, The Jefferson is a popular home for empty nesters, offering three bedrooms and 2.5 baths into 2,222 square feet. Its huge great room flows right into the dining room and kitchen, making it ideal for people who either love to entertain or who will welcome back the family for holidays and long weekends. Asa two-story dwelling, it provides plenty of space and privacy for both you and your guests.
The Opportunity to Build Custom
Downsizing doesn’t necessarily mean the purchase of a pre-built home. The empty-nesting years may represent the perfect time to build a custom home, for several reasons. As your needs change, your home should reflect your new dailyy lifestyle. A custom home will allow you to customize a floorplan matching the way you live your life, whether that involves cooking gourmet meals, entertaining guests, or spending a lot of time outside.
Taking the opportunity to downsize will open you up to a wide selection of customizable homes within your price range. Opting for a smaller floorplan also gives you more budget to focus on those custom features that will make a home truly yours, such as a spa-like bathroom, a gourmet kitchen, a home theater, or a garage workshop.
Your Golden Years
For many homeowners, the empty-nest years can be a good time to consider your plans for retirement. Do you plan on purchasing another home that suits your lifestyle and budget during retirement? Or should your next home last through the empty-nest years and into retirement?
If you plan for your next home to serve you during retirement, consider things like health and accessibility. For example, you may want to choose a smaller, single-story home that won’t require a lot of upkeep. Although the “golden years” may seem like a long way off, now is the time to be strategic with your home purchase to make sure it can meet your needs for years to come.
Finding the Right Home for You
Looking ahead to an empty nest may feel a bit daunting at first, but consider the positives. You have the opportunity to redefine how you spend your time. It may also be the ideal chance to consider downsizing into a custom home that allows you to make the very most out of your new lifestyle.