Reply to Downsizing when you age or empty nesters?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It cost a lot of money to buy and sell. As my father said, why downsize to a smaller house in his mid - late 70s only to have to sell it again within a decade to move into assisted living/retirement. They're staying in the house till they know they absolutely have to move to a retirement community. [/quote]

That is why (imo) it makes more sense to do the downsizing in your mid to late 50s, once kids are out of the house.  Then you get 20+ years possibly living there before you need a retirement community
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But why downsize if you are already happy in your house? That's what some of you are struggling to understand. There is no rule that you must downsize into something smaller or more efficient by a certain age. Smaller houses aren't necessarily cheaper to operate than larger houses, there's a certain amount of sunk costs involved. [/quote]

Obviously, nobody is forcing you to downsize.  I for one don't want the maintenance/yard work and hassles of a 5K sq ft home when there are only 2 of us living there.  it was great with two kids at home, and wonderful when everyone was working from home/doing school from home during covid---everyone had their own space with a desk that was quite/behind doors.    Seems wasteful and a pain in the ass to manage though when we only would need it for a few weeks out of the year once youngest is out of college.  So we moved to a 2 bed/2bath condo in the city.  One kid already out of college and launched out of state.  2nd well on the way and at least 75% chance they will get job OOS.  If they get a job near us, we will help them rent a place in the city (VHCOL)--that way they will be independent but able to afford a decent place.

Around me, smaller places are easier to maintain and property taxes are correspondingly lower.  Sure I own my big house, but I sold it for double the purchase price 7 years later.  The smaller Townhome/condo is still going to be "cheaper and less overall costs" long term.

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