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Considering downsizing Advice desperately needed!

J Corn
7 years ago

Have you downsized? I could use your input. Desperately need advice. If you've downsized did you end up paying more for a home smaller than your former home? Did you move to a condo?

Here is our basic info and challenges:

First, we do not have to downsize yet but we. We love our home BUT after 27 years of living here, costs are adding up. The home is large. It has a 2nd floor. We are heading into retirement. We are having to pay more for tasks we used to handle ourselves (mulching, deck staining, lawn mowing, some landscaping, etc).

Homes here appreciate slowly and our 3000 sq ft home, in an excellent neighborhood, has barely doubled in value in 27 years. This is typical for the city.

Even so, in the current housing market we'd be hard pressed to get a home with what we need for a reasonable price. We'd have to pay as much as we paid (27 years ago) or more for a ranch home (our preference, no stairs) and at least 3 bedrooms ( we have an adult special needs son who needs a room as well as frequent guests).

Again: if you've downsized did you simply bite the bullet and pay more for less home? Did you move to a condo? What were the major benefits -and problems- in downsizing? Did you regret it?

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