Retirees unable to downsize
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  1. #1
    Registered User HandyMom's Avatar
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    Default Retirees unable to downsize

    I was talking to my brother the other day about the housing market and he was telling me there was a retired couple in his area that ended up being trapped in their big home and unable to afford a downsize. They have basically closed off the upper floor of their large house and are living in the lower half to save money on utilities. They would like nothing better than to sell their big house but since they would be paying even more in property taxes for less of a home and yard, they feel they are stuck where they are.

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    Registered User Radish4ever's Avatar
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    That is terrible!! Maybe they could rent out part of their home to someone responsible? Just a thought. Our house will be much too large for the two of us when our kiddos are old enough to move out.... We've seriously considered selling our house and getting a small apartment when they move out.............. but then we start thinking about grandkids, etc. LOL

    Luckily, we have time to think on that!

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    Registered User DJ1972's Avatar
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    Something I will not have to worry about...as our house is only about 1200 sqaure feet, and I am happy with that. When we lived in IL, we had a 5 bedroom, 2 story house...I hated it. As my Granny always said, "A small house makes a family talk to each other, and teaches negotiation skills!"

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    Registered User wanderlusting's Avatar
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    Quote Originally Posted by DJ1972 View Post
    As my Granny always said, "A small house makes a family talk to each other, and teaches negotiation skills!"
    I agree completely!

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    Registered User kittykatstrong's Avatar
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    Quote Originally Posted by DJ1972 View Post
    As my Granny always said, "A small house makes a family talk to each other, and teaches negotiation skills!"
    I agree, plus less to clean. I am all about less to clean.

    Katy

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    Registered User pkellyc's Avatar
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    DH and I under bought our home, knowing our kids were leaving some day. By doing this, we can seriously consider buying a small second home or cottage and having it paid for before we retire.
    I am also such a cheapo, I worried about maintenance on a large home when we were shopping for one. Not to mention oil heat for 7 rooms or oil heat for 9? I will take the smaller.

    I was thinking they could rent the upstairs out also. Are they near a college?

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