There is no reason that they should downsize. A paid off house is a security against bad times. Moving; even downsizing – involves real estate agencies and all of the fees associated with a house changing hands. Additionally, if the chickens come home to roost, who’s to say you won’t need the space in the future to prevent children (even adult children) from being homeless?
Do you have boomer parents? I do, and they definitely need to downsize because they’re getting too old to be able to keep up with the yardwork and other maintenance. An empty-nester couple just doesn’t need a 3000+ square foot house. And they know it, too! They want to downsize. The only reason they haven’t yet is that they can’t decide where to move to.
There is no reason that they should downsize. A paid off house is a security against bad times. Moving; even downsizing – involves real estate agencies and all of the fees associated with a house changing hands. Additionally, if the chickens come home to roost, who’s to say you won’t need the space in the future to prevent children (even adult children) from being homeless?
Do you have boomer parents? I do, and they definitely need to downsize because they’re getting too old to be able to keep up with the yardwork and other maintenance. An empty-nester couple just doesn’t need a 3000+ square foot house. And they know it, too! They want to downsize. The only reason they haven’t yet is that they can’t decide where to move to.