Specialized Buyers Agent answers Q and A from Main Line Residents
Q. All our friends are retired and downsizing. We love our home but feel pressure to do the same. What are the pros and cons of that? E and W. Pascal, Wayne, PA
A. I just had some friends ask me the same question and here is what I told them to consider:
- Is your house really too big for you? In their case, their home was actually very modest in size.
- Are you physically unable to do the required maintenance? Like many folks their age, they were not but they were tired of it and the anxiety over small repairs had increased with age.
- If you can’t or don’t want to do routine maintenance, is it really too expensive to pay someone else to do it? Often the monthly fees for planned or retirement communities are more than you would pay if you just hired out the work. My friends decided to get someone to do weeding and clean the gutters for now.
- How vital are your friends and family to you and would you see them as much if you moved? Some retirement communities have lots of activities but would you enjoy them with people you don’t know? My friends decided they love their community too much to move right now. If one of them needs assisted living in the future, they will look into in-home options as well as communities that offer that type of care.
Everyone has different needs as they age, so it makes no sense to blindly follow the crowd. Maybe go visit some friends who have downsized to see what they like and dislike about their new place. Then decide for yourself. Good luck!