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Market Watch

Four Reasons to Downsize | Baby Boomers on the Move

Posted on April 30, 2017

According to AARP, there are expected to be 8,000 Baby Boomers per day turning age 65 and many of them will be considering a move to a smaller home. Here are a few of the reasons why a smaller home for a senior makes sense:

  • A smaller home means a smaller mortgage payment, especially if you have built up a sizeable equity in your existing home.
  • Less home maintenance work and more time to relax and enjoy hobby and recreational pursuits.
  • Downsizing could mean upgrading your lifestyle by living in a more desirable location and maybe being closer to kids and grandkids.
  • It's a chance to eliminate the clutter that you have accumulated over the years.  Downsizing would force you to decide which of your "stuff" is truly important and which can go away.

Some of these reasons are easier or more important than others but they are all opportunities to improve the quality of your next phase in your life. Doug East is an ERA Realtor® who has not only specific training and experience in assisting Boomers but also calls upon his own personal experience in the downsizing and career transition phenomenon.

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