Once the kids grow up and move out, your whole approach to home buying changes. Your priorities shift, you have more freedom in terms of location, and you have a whole new outlook on what you want in a home. If you’re thinking about moving cities or homes as an empty nester, these are five things that you should keep in mind now that you can put your own needs first.
You Need to Know These 5 Things Before Moving as an Empty Nester
#1 Your Home Should be a Secure Investment
Even if you haven’t paid off your mortgage yet, you’ve likely built a good deal of equity. That can give you a lot of purchasing power for your new home, but you’re also reaching a time when you should be winding down risky investments and focusing on more conservative assets.
Real estate usually represents a significant portion of a person’s wealth. The next home you find should have a good resale value. Increasingly, that means looking outside of the risky urban condo market.
#2 It’s Good to Have Good Neighbors
The community you move into is so important. Homebuyers are always looking for neighborhoods that are going to be safe and friendly. But once your children move out, what makes a neighborhood appealing may be different.
Younger homebuyers often seek out neighborhoods that have kids who are in the same age group. It usually means there’s a good school nearby, and their kids have potential friends and playmates.
But when you’re enjoying your child-free years, you might look for a quieter, more settled neighborhood. It’s why some homebuyers are turning their attention toward adult lifestyle communities in Niagara.
The Niagara region has become an empty-nester’s paradise thanks to its unique blend of charming small-town communities and easy access to amenities like healthcare. It also has the benefit of being the heart of Ontario’s wine country.
Check out home builders in the Niagara region who build adult lifestyle communities to learn more about building a custom home in Niagara.
#3 You Don’t Need Nearly as Much Stuff
Downsizing is an important part of making an empty nest move. You tend to accumulate a lot of stuff when you’re raising kids, and moving is the perfect chance to evaluate whether or not you really need to hold onto it. One tip: be ruthless about downsizing your belongings. You’ll thank yourself when you’re moving everything.
#4 You’re Going to Use Space Differently
Without having kids around, the way you use space in your home is going to change. You’ll have more room for yourself, such as a home office or a room where you can pursue your hobbies, and you can dedicate more space for entertaining.
#5 You’re Going to Have More Time – Make the Best of It
Finally, you’re going to have more time for yourself, so you should live somewhere you can make the most of it. Do you love getting outdoors and enjoying natural scenery? You’re free to move out into the country.
Love small-town charm and historic buildings? The point is, you have a lot more options than when you’re looking for a place with good schools, young families, and all the amenities that make raising a family easier. You can be just a little more selfish in your search.
Moving as an empty nester is a great opportunity to find your dream home and the life you’ve always wanted.