Thinking about downsizing

[tc]

our house, that is. We have a ranch, 1999 sq ft, with a full-finished basement. Total sq ft: about 3750. Kimmi will be gone soon. That leaves us with a five bedroom, three bath house that I have to heat and clean. I love my house, but am ready for less upkeep (and more money). We looked at some Richmond homes this weekend (about 1,400 sq. ft, three bedrooms, two baths)and, with what we should be able to make on our current house, we should be financing less than $100,000.

All this said, I am still a little unsure. We'd have no room for the pool table until we finished the new basement (and we're not sure we want to), the master bath is 1/2 the size of what we have now. The main living space is 1/2 the size of what we have now. One minute I think it'll be fine, the next I wonder if I'll be content.

Has anyone else downsized? If so, what was your experience? Were you just as comfortable in the new space? I keep thinking the extra money we save can be used to travel, enjoy the weekends, decorate, etc., so I should be satisfied with a smaller space. Also, there will only be two of us, so less space should not be an issue.

Anyway, anyone with experience?

 

[Big V]

Not down sizing yet Kelli. Just wanted to say hi and good to see you on the Dis again!
Scott

 

[tc]

Thanks Scott. I heard you were asking about me a few weeks ago. Just super busy with work, being sick and Sarah's wedding.

 

[TimeforMe]

Hi Kelli: I, personally, have not downsized (yet), but my brother and sister-n-law recently did. Their previous home was a two-story contemporary with 5 brs., 3 baths, kitchen, lr, dr., garage, etc. and a huge lot. Now that they are empty-nesters and their daughter moved an hour away from them, they sold their home and bought one closer to their daughter and her family. Their present home is 3 brs., (1 of which is used as an office) 1 1/2 baths, much smaller (but gorgeous) kitchen, lr, dr and all on one floor ranch. I can't tell you how happy they are and have mentioned many times how they'd wished they'd done it sooner. They have a beautifully landscaped yard, however, with a waterfall which was the clincher for them. I think if you find the *right* home, you will be perfectly content.

I'd go for it. Good luck!

 

[ChibiJones]

My parents considered downsizing a little while ago, but decided against it. My siblings are like boomerangs, LOL! Right now, my brother & SIL moved back in so they're back to a full house (just until construction is done on their house though). My parents thought they had finally gotten him out of the house when they married him off

A few years ago, it was just my parents & youngest sister. Right now, it's my parents, my middle sister, my youngest sister, my brother & SIL, a dog and 3 cats.

Are you reasonably sure the kids won't come back? My parents wanted us to be able to come back because rents & home prices are ridiculous in SoCal, where my family is. They'd rather us kids be able to save some money rather than pour it into a rent money pit.

 

[tc]

I know for certain Sarah will not be coming back. Her life is in Topeka, and if they needed to live with someone, it would be Matt's parents. Kimmi has not left yet. She has another year of cosmetology school, but says once she's gone, she's gone for good. However, we would keep a guest room (or her room) for her if she came back. I only have two, so even if they both came back, there's always the basement.

My husband just called me and said he's liking the idea more and more. Our mortgage payment would be cut in half, so we could invest more (thus, hopefully, giving us more deductions) and we wouldn't be tied to such a big house and yard to keep us from enjoying the motorcycle in the summer.

We have stuff to do on our house, minor cosmetic and a little major construction (like finish the downstairs bath so we can really say "3 bathrooms", instead of "2 bathrooms and one almost bathroom."

Anyone else?

 

[Toby'sFriend]

Honestly yes it is probably something we'll do once the little one is gone. I just won't want to be tied to this huge yard with all the leaves --- as well as swimming pool maintenance -- once the kids are gone. We bought this house with them in mind and once they are out, it will be time for a new family to enjoy it.

But given that my "little one" is still only a year old, I have awhile to wait.

 

[Micca]

I expect we'll down size a bit when we move to Florida. At the moment it just doesn't seem to make too much sense to be heating/cooling all this space when there are only two people in the house.

 

[Growin'upDisney]

DH and I have been trying to convince his mom and step dad to downsize for about 2 years now. They moved out to the valley from the Bay Area about 5 years ago and bought a 5 bdrm house for just the 2 of them. I thought it was crazy then. They have done nothing but fill it with clutter since. Now that he will be retiring at the end of this month we have been pushing them to move before he retires. But they just kept procrastinating and decided not to do so. The house is just way too big for them and they refuse to see it.

I applaud you for thinkging about taking such a big step. I agree that if you find a great house you probably won't be disappointed, especially with the extra cash and less upkeep. It sounds win-win to me.

 

[FreshTressa]

Not to discourage you if this is something you really want to do, but both my DH's and I's parents did it and both have been unhappy with the results for different reasons.

DH's mom had a big house when her boys were home and we convinced her to get a condo, since no one would be around to do house maintenance and she would have a lot more money since she could own the condo outright. (She is incompetent when it comes to things like mowing lawns and changing lightbulbs).

Anyway, she hates it. She has no place for all of her cooking accessories and appliances, she misses her craft room and has all her craft stuff stashed in a closet. She has two bedrooms and has filled them both.

Now, my parents are unhappy for different reasons. They have grandkids and kids over all the time and now they have to sleep in the living room on the pull out instead of having their own room. She used to be able to store toys for the grandkids, but now she only has room for one box of toys.

And, this last year, my DB, 45 moved back home after his divorce. His two kids come and spend every other weekend with them. This was unexpected.

Anyway, be sure you arent' going to have grandkids running around or kids returning before you dive in. And make sure you find the right house so you can be happy with less space.

Good Luck!

 

[Otimon]

We downsized when we moved from Ill. to Fla. and have no regrets whatsoever.

Not only went to a smaller home but smaller lot, smaller mortgage and smaller property tax. More time to enjoy ourselves,

Best wishes whatever you decide.

 

[GeorgeG]

We'll be moving to Florida in a few years when I retire and are definitely looking to downsize for all the reasons covered by other posters.

We expect to have one guest room and it will have the most uncomfortable bed we can find and a listing of local hotels on the nightstand. Well, that's probably an exageration, but not by much.

It's not that we don't like the kids and grandkids (the oldest of them is in the USMC!), or the rest of our family (well, most of them), but two things we want to avoid are prolonged stays (more than a week) and being a free vacation for everyone who wants to visit Florida and is just looking for a place to crash and be entertained.

Actually, the bed(s) will be comfortable, but the closets and any dressers will be full of our own stuff so anyone visiting will have to live out of their suitcase.

I guess I'm sounding kinda cold, but once the kids are grown and out on their own, it's time to kick back a little.

 

[CarolA]

Tessa,
Your family sounds like my Grandmother. I think the big problem that she had and it sounds like your's has is downsizing too much.

There is a big difference between a 5 bedroom and a one or two bedroom. Three bedrooms gives you a lot of flexiblity. You can have a formal guest room and a "flex room" with something like a sofa bed in it.

I live in a 3 bedroom house with 2,400 square feet and it is just me!!! YIKES.

I am beginning to think about looking for a new job and while I love this house, if I have to move it may be to something smaller. However, that will require ALL my loving family to make some decisions about the furniture. I seem to be the family's caretaker for all the "family heirlooms" I am about to decide that if they are such heirlooms someone else can love them!!!!

My parents were pretty much like you George. It would have had to be MAJOR for me to move back and I would have had to have a plan to get out quick. They love me, but...

Now my Dad is the King of downsizing. He and his wife live aboard a moter home.