A HOME-BUYING GUIDE FOR EMPTY NESTERS
The day a child leaves home can be
nest. New analysis from a survey of
2,500 empty nesters commissioned by
Regency Living found that 30 percent of
empty nesters choose to downsize and
move from their original family homes.
When retirement is just around the
corner, many professionals shift focus
to how they want to live and where.
Moving to a new home presents plenty of
opportunities for older adults, including
a chance to choose a home based on
what’s right for them in this stage of
life. There are questions homeowners
can ask themselves as they ponder if
downsizing is right for them.
1. How much upkeep can I handle? A
lifelong family home may be well-loved,
but chances are it requires signifi cant
upkeep and repairs. Empty nesters may
choose to move on to a home that offers
lifestyle benefi ts like less maintenance.
Homes in lifestyle communities or those
overseen by a homeowners’ association
tend to have certain maintenance built
into a monthly fee.
2. Is this layout still a fi t? Many empty
nesters may not immediately feel the
effects of aging, but before selecting a
next home, individuals should think
about aging in place and any unique
needs they may have. Opting for a
single-level home, or at least one with
the owner’s suite on the main level, can
be advantageous.
3. Can I make due with less square
footage? A cavernous home with
many rooms often isn’t desirable
for empty nesters. All of that square
footage requires heating, cooling and
maintenance. Rattling around inside a
big, empty house may precipitate the
decision to downsize. Downsizing also
can free up home equity, which can be
used to fund retirement needs.
4. Which features do you desire?
Many empty nesters want the next home
to focus on some luxury items they
may have bypassed in the fi rst home
FINANCING AVAILBLE
bittersweet for parents. Although a
son or daughter being successful
and mature enough to move on to new
opportunities can be a source of pride,
parents typically lament the quiet that
comes from empty rooms and a change
to the daily routine they’d grown
accustomed to when the kids were
around. After some time, some couples
decide to downsize to a home more
befi tting the empty nester lifestyle.
Downsizing presents an option for
homeowners whose kids have left the
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when priorities lay elsewhere. Upscale
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5. Will my home be secure while I
travel? Empty nesters might want to
choose homes in gated communities
or condominium complexes for safety
reasons. Should they opt to spend a
portion of time at a vacation rental or
second home as snowbirds, secure
communities enable residents to leave
their primary residence with the peace
of mind that those homes will be less
vulnerable to thieves.
6. Does this home have enough
light? The American Optometric
Association says many adults start to
have problems seeing clearly beginning
at age 40. Homes with more light from
large windows and artifi cial lighting can
reduce accident risk.
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