As empty nesters, you and your spouse realize that your longtime family home has a lot more space than you need. Your children are adults, living on their own scattered throughout the country. It is time to downsize, moving from a spacious home to a condominium. It is time to do some research, weighing the advantages with the disadvantages.
Condo living can be simpler in many ways. Perhaps the upkeep of your home just became too much. You will not have to worry about that while living in a condo. You will not have as much space to keep and store things, but you do free yourself by just getting rid of that “stuff” you have been hanging onto for years.
Amenities, community and less space
Before you pursue condo living, please do some research. Among the benefits include:
- There are fewer maintenance issues. Homeowners association (HOA) fees cover the costs of shoveling, landscaping and general upkeep of the condo complex and its amenities. So you will not have to do that extra work.
- Amenities are plenty at condos. They may include event rooms, swimming pools, tennis courts and gyms.
- With less space, you have fewer household tasks and chores. The additional free time allows you to pursue additional hobbies and interests.
- Neighbors are close, so you have a built-in community and potentially gain new friends. However, you also share walls with neighbors, and the noise level may increase throughout the complex.
- Renting your condo may be an option. Check with the HOA to see if this is possible. Some boards allow it, but others do not. If you are considering a condo as a seasonal home, then renting is a good strategy for the months you are not there. But you need the board’s OK.
Sentiment is tugging at you as you consider leaving your family home. Yes, you had many good memories as your home fulfilled its purpose. But reality kicks in, and you understand the need to move physically and emotionally. Condo living is a good option.