February 16, 2022 —The last kid has graduated from college and finally moved out of the house. Is it time to downsize?
Many folks in their 50’s and 60’s find that the family home, perfect for raising a family, becomes a lot to manage after the kids start their own households. Parts of your home might not be used at all, and you’re spending a lot of money maintaining that space, whether it’s through heating and cooling or simply trying to keep up with the dust bunnies.
When you start to consider whether you want to downsize, many people start to look for a home with a first floor primary suite or fewer stairs, and maybe less maintenance- let someone else take care of snow removal, for example. Considering a new home also gives you the opportunity to consider location, and whether you want to remain in the same area with friends or perhaps move closer to family.
The Baby Boomer Effect
It turns out that Baby Boomers are still driving many aspects of our economy, including housing supply. In a recent study, while 12% of homeowners nationwide reported that they were downsizing, 46% of all baby boomers who were moving were downsizing. This may mean that changes are ahead in the housing market, and if you are considering downsizing or moving into a retirement community like Kendal-Crosslands, there may be no better time than now.
Between low interest rates, which are starting to creep up, and changing tax laws that cap deductions for state and local real estate taxes, getting out of your current home could be a smart financial move. By considering a move sooner rather than later, a retirement community like Kendal-Crosslands can offer you maintenance-free living and a guarantee of Life Care, ensuring all your future health needs are met, without necessitating another move in the future.
Decide on The Right Place for You
Many of our residents have chosen Kendal-Crosslands even with children spread out all over the Country, in part because it is so close to Philadelphia International Airport. For example, one couple recently moved to Kendal at Longwood from Ireland- and their children live in two different States, with a third in Switzerland! “The kids and the grands are a delightful part of that life for us…but where they live and whether they will stay there is potentially up for grabs. Nearby is nice. But it is only one of the many considerations. The place itself is of utmost importance!” said Nell, who moved to Kendal at Longwood with her husband Chuck, a little over a year ago.
Nell’s mom was also a Kendal at Longwood resident a number of years ago. “My mother was here for years so we almost felt a part of the Kendal family the day we arrived. For us, coming as we did from 51 years abroad and the last 25 of those years on a small off-shore Irish island, the change was tremendous. To be welcomed by staff and residents who still remembered us from our visiting days was fantastic–and says so much about what Kendal is like. There really is a sense of being a family,” Nell added.
“Our children decided, whether by conscious effort or just instinctively, I don’t know, that the best way to help make us feel at home was to have ALL of us together for Christmas–the first time it was ALL of us at Christmas since 1994, and that was to welcome the first grandchild/niece/next generation member. The grands are now [between 17 and 23 years old] and take up considerably more space than they used to, but we managed to feed all of us right here at our cottage at Kendal! And to use the wonderful Kendal play facilities of pool, exercise room, ping pong, pool table, library. Such a gathering will not be a yearly event given distances, jobs, schools but that doesn’t mean that Chuck & I can’t travel to see them all yearly as long as we’re able for such travel.”
Choose the Right Community for You
In today’s mobile society, people are relocating for jobs and opportunities. While many people choose to move close to children and grandchildren, there’s always a chance that family might have to move, so it’s important to select a community that meets your needs for the long term.
Chuck and Nell chose their retirement community based on their needs, and they’ve found that even in a much smaller home, they still can have family gatherings with their extended family and entertain, or they can opt to travel themselves- but they haven’t given up any options in their downsizing.
You can maximize the benefits of a Life Plan retirement community by moving in sooner rather than later. Enjoying the community and your independent living cottage will help keep you younger and healthier for longer. If you’re interested in learning more about what Kendal-Crosslands Communities has to offer, you can download our digital brochure by clicking below, or give us a call toll-free at 844-907-1800 to schedule a tour!