Downsize or Upgrade? What You Can do With Your Home When The Kids
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It’s the moment you think you’ve all been waiting for – the kids leaving. Whether it’s temporarily because they’ve gone to university or they’ve moved out for good, it’s a sort of bittersweet moment. When the house is silent and the washing basket is never as full as it once was, you can’t help but wonder what you’ll do.
Most people go through the whirlwind of downsizing or upgrading (renovating). Read on for some tips on what to do.
Downsizing
This one depends on the size of your house. If you have a small, two-bedroom house, you might not see any value in downsizing. You can actually make money by investing in some renovations – move on to the next section if you think that applies to you.
Moving from a bigger house to a smaller one cuts back on property maintenance, energy bills, and the mortgage, if you still have one. Depending on how dramatic the downsize is, you might even make money. And moving to a smaller property is a simpler way of life we think most people will enjoy. Less cleaning, less empty space – it just seems easier.
And think about it like this: if the downsize is dramatic enough, you could make enough money to book a nice holiday!
Upgrading and Renovating
With the children all grown up, you can finally create the space you have always wanted – a dream for many people.
You could have a home office, a walk-in wardrobe, or a dressing room. Or, depending on why the kids have moved out, you could turn it into a classy guestroom. If they’ve gone to university for three years and you know they’ll be returning for a year or two, it’s best to keep some form of room.
You should also think about the rest of the house. You’ll start to save money on bills, food, etc. Once you do, you can begin putting into home renovations – painting, bathroom renovations, new flooring, etc. For new flooring, treated timber looks incredible.
What People Usually Do
It’s a mixed bag of reviews. It depends on the size of your house and how long the kids are leaving.
Once you start thinking about what you’ve always wanted to do with your house that you’ve never really had the space or money for, the ideas will begin to flow.
One thing we would suggest is not getting rid of the family vibe altogether. Keep your house cosy and inviting. Unless your kids have their own home, you can’t guarantee they won’t return.
Whatever you do, don’t make massive investments and waste money. It’s a time to save money and enjoy having more money to spend on yourself.
It’ll be nice to finally have options for what to do with your home. Even if it is a bittersweet moment, we know you’ll begin to enjoy the freedom of having the choice to do what you want with your house. And when it’s all done, sit back, relax, and enjoy the R&R you’ve spent years waiting for!
Image from Unsplash
