Is It Time To Consider a Right-size Move?

Here in the Waterloo Region, we are fully into warmer days, and our gardens are blooming with colour and life. Alongside the vibrancy comes additional yard maintenance to keep our properties looking beautiful. For some, this can be physically stressful, especially with the extreme heat we are experiencing. Outdoor care, along with keeping the interior spaces of a large home looking their best, takes consistent effort. For some who have lived in their family homes for decades, it's fair to have thoughts about whether their current living situation is ideal for their needs. A right-sized move can offer the ability to live independently while residing in a home that allows one to focus on important priorities beyond maintaining big homes.Here are a few examples that may contribute to giving serious thought to a right-sized move.
  1. How often do you use most rooms in your house? - Larger homes may have formal living rooms alongside a family room and recreation room in the basement. Perhaps these additional spaces only see activity on special occasions like Christmas and Easter when hosting family. It's wise to consider the value of upkeep based on daily usage of the additional space a large home offers.
  2. Are you experiencing health issues? - Aging in place has never been easier with modern technological advancements and elements that can be added to your home to assist with mobility. At some point, our health ailments are beyond a simple walk-in shower vs. a tub, and the need to consider one-floor living becomes a valid thought. Most neighbourhoods in Waterloo Region consist of a mix of residential dwellings, including larger bungalows. If you still desire lots of space, there are opportunities to relieve the stresses of health challenges while living in a detached residence that is less physically demanding in terms of upkeep.
  3. How often are you using your principal residence? - Retirement allows you to pursue travel and other activities that don't require you to be at home as often as in the past. If you are a snowbird, consider the monetary value of keeping a more prominent home you use seasonally. A right-sized move may allow you the financial ability to purchase a second property or expand your travel budget in the golden years.
  4. Will a right-sized move bolster your financial standing? - The Waterloo Region housing market remains one of Canada's most expensive. By capitalizing on your property, you could see significant economic gains. A right-sized move could enhance your financial capacity, reducing home maintenance costs and mortgage payments. A right-sized move requires serious consideration and should not be rushed. Having a healthy conversation with your spouse, family, and friends can help you understand the positives of a move or reinforce your desire to change your current residence so that you can enjoy your property for years to come. Even if a move isn't on the card, these conversations can lead you to make positive changes like decluttering, hiring appropriate parties to take care of home tasks you find less desirable, or simply reinforcing your decision to stay in place.
At the end of the day, home should be as stress-free as possible and evaluating what your home offers in relation to your comfort and needs is always a good exercise to complete.