When your children leave home, you might decide that is the perfect time for you to downsize – or finally move to that house in the countryside. It can be a tricky decision, though. Leaving the family home, where your children grew up and created memories, is a big deal.
The dent in the wall where your eldest dropped their bike as they wheeled it through the house, or the small burn mark on the countertop where they learned to make pancakes.
You need to decide if you are ready to leave all of that behind – and what it might look like if you do.
What do you want?
Once the children leave, you will have plenty of time to decide what you want to do and why. Most of the time when the kids fly the nest, all of the time spent caring for them can be channeled into something you really want to do – or used to relax.
You can decide if now is the right time to start investigating the real estate market – and what is out there for you.
If you live in a larger home, you might decide that now is the perfect time to downsize and give yourself less to do in terms of maintenance.
If you moved into the home before your children arrived and are there after they have left – that is a lot of memories.
The floor that your babies learned to crawl, then walk, and run! As you look around the home, are you filled up with all of the beautiful memories? Or are you ready for a new adventure in this new phase of your life?
It is important to remember that, although your children might have some objection to you leaving their family home behind – unless they want to move back in, it is your decision!
The chances are that the value of your home has increased exponentially while you have been living there. And, you might be ready to cash in on that and use the excess money to travel.
Smaller homes are usually cheaper to buy and cheaper to run, which could leave you with a lot of free cash.
It is often a good idea to speak to a financial advisor to understand how much you could sell the house for and how best to use the money.
If the many years you have spent in the home were because you needed to be close to schools, stores, and other amenities – it might be time to say goodbye to the busy life. When you no longer need to be close to main roads, malls, and schools, you are free to go and find some peace elsewhere.
Use the opportunity when your children leave to find the peace you have been searching for in previous years.
Moving after your children leave home can be a liberating experience and be the actual moment that you can move on to the next phase in your life. If you are ready for a new challenge in your home, then read: These Tips will Help you to Start A Business out of Your Home.