How Life Changes Affect Real Estate
You are moving along in your everyday life after pursuing the dream of home ownership 25 years earlier and then suddenly life changes.
You knew it was coming but how on earth are you supposed to plan for the “next phase in life”?
One minute you have small children that you are cultivating, running through the hustle and bustle of school drop-offs, dance class, soccer practice, and music lessons. In the next moment you’re touring college campuses. You get caught up in your to-do list and all of the excitement of the growth and you feel an enormous sense of pride in seeing your little human all grown up and ready to take their next step.
It Finally Hits You
This is it. Your last child is moving into their dorm room and although that has been the goal all of these years, you never really took a moment to ponder what life would like without the hustle and bustle in the house. Every day has been planned strategically around your little human. Not a second was wasted and now you have to figure out how you are going to fill the days, the hours and the minutes.
Well… if you are anything like me, you have a 10-minute meltdown. Ok, if we are truly being honest – more like a 3-day meltdown. There it is. That far off thing everyone has always talked about…the LIFE change. You knew it was coming but how on earth are you supposed to plan for the “next phase in life”?
The New Reality
You live comfortably in a beautifully spacious house which was filled with children and now with them gone you find yourself listening to see how loud your voice is echoing to help deal with the silence and using the same 4 rooms each day…the kitchen, the den, the bathroom, and the bedroom. Then one morning while enjoying your morning coffee ritual out on the lanai, you start to think and rationalize in your mind how you will need all of this space when everyone comes home for the holidays or when everyone comes home during the summer and you even go as far to justify the needed space once the grandchildren arrive 10 years from now.
But, as the months pass, one of the kids decides to do an international internship in Europe, another decides to go backpacking with a group of friends through the Rocky Mountains, and the other decides to take a few classes over the summer and work full-time. You’re a little disappointed but you can’t fault them because this is all your doing anyway. You raised them to be courageous, adventurous and responsible adults. You encouraged them to live life to the fullest and explore all of the things you never had the opportunity to see.
Then It Happens
Before you know it, you’re asking your friends about a recommendation for a trusted real estate advisor and the search begins.
The moment comes when you realize it is time for you to occupy your time. You think about finding a new hobby, or researching how to volunteer and join a community organization or even take that dream vacation you never could find the time for. And strangely something begins to happen, you start gleefully envisioning what it would be like to downsize and buy a smaller house.
For a brief moment, you begin to feel guilty because how will you tell the kids that you are wanting to sell the home they grew up in, the home filled with a lifetime of memories, the home you thought would be your forever home? As the thoughts race through your mind, you are brought back to reality and reminded once again that just as they are growing into their new phase of life, so are you. Before you know it, you’re asking your friends about a recommendation for a trusted real estate advisor and the search begins.
This is your time. Who says it needs to make perfect sense?
As the weeks progress you narrow down the search from what you practically decided upon at the start of your search to what you truly dreamed about. The maintenance-free villa, or condo overlooking sunsets on the bay or the country home nestled away on a few acres of land all to yourself. This is your time. Who says it needs to make perfect sense? You no longer have to worry about how the house will be configured to accommodate all of the kid’s stuff, you can actually turn the extra room into your reading room, or a music room for your guitar collection, or an overflow room for the Superbowl party or game night with the girls. Whatever that vision is for you, you decide to seize the moment and make the offer.
Throughout life, there are many circumstances which can make you reevaluate your real estate needs.
You Are Not Alone
Throughout life, there are many circumstances which can make you reevaluate your real estate needs. From the twists and turns of downsizing when the kids leave to the life change of a divorce or death of loved one or to the upsizing with the new job promotion or the excitement of marriage and the expanding family. The good news is, you are not alone. Life happens and time continues to move us forward. Our advisors have been helping with the real estate needs and beyond of our customers for over 60 years and you can rest assured when that moment comes, we will be right there ready to guide you.
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