From empty nesters to the recipients of inherited homes, rightsizing makes a lot of sense for a lot of people. In a time when the downsides of excess are becoming more and more clear, many are realizing the benefits that moving to a smaller but more intentional space can have on their finances, home quality, and upkeep efforts.
So what could YOU stand to gain from rightsizing your home? Let’s explore that.
Rightsizing vs Downsizing
While it might be more common to hear a friend say they’ve decided to “downsize” their home, we don’t love that term as a description. Why? Well, it’s the implication… The way we see it, a homeowner is making an exciting decision about their spatial needs and lifestyle goals. That’s the transition they’re looking at with this process. “Downsizing” feels somehow negative — there’s a suggestion of loss when, in fact, there are great gains to be made.
Moving into a home that fits you better shouldn’t feel like a step down. You simply have the opportunity to take your current investment and funnel it into something better that actually fits your current size needs. That’s why we tend to talk about “rightsizing” with our clients. Rightsizing is a luxury lifestyle decision that gives homeowners back their control over the value of a home and how they use it.
It’s a ticket to ENJOY your space again! And that ticket is often worth the price of admission, particularly for many empty nesters.
5 Ways Rightsizing a Home Can Pay Off
Cut Down On Exterior Maintenance
Whether you pay someone else to maintain your home’s exterior, try to handle upkeep yourself, or do some combination of the two, taking care of a home that’s way too big is no fun for anyone. If you’re struggling to get these things done, it may feel like every time you get one issue settled, another comes up. Neglect can begin to creep in taking the form of damaged roof shingles, broken gutters, leaky skylights, unplowed snow, unmowed grass, etc. Because let’s not fool ourselves here… it takes a lot of work to do proper upkeep on a large home.
But the extra effort isn’t the only downside to owning an oversized home…
Of course, you’re also paying for all that excess space you no longer enjoy. Personally, I see this as one of the best reasons to rightsize. Show me a better argument than getting more for my money and you’re going to see a very confused look on my face.
Still, one obstacle to folks making the decision to rightsize can simply be recognizing the opportunity for it.
Becoming resigned to living in too big of a house can be a lot like that story of the slowly boiling frog in the kettle. This is especially true for empty nesters. Like the frog that initially views the kettle as a free jacuzzi, empty nesters originally had a perfectly good reason for the amount of house they have. But with all the kids gone, that once-useful space has suddenly become a lot.
Moving into a smaller, more intentional space can be a wonderful gift for empty nesters and anyone else feels like they aren’t getting their money’s worth out of their home.
Lower Your Energy Cost & Footprint
Energy efficiency is on everyone’s minds these days. From energy-efficient windows to energy-efficient roofing materials, gone are the days of Old Man Winter stealing all of our warmth through little cracks around the home. But outdated and inefficient building materials aren’t the only way to lose energy efficiency.
We all know that more house means more space to heat and cool. While strategies like supplementing with space heaters may be a potential option in the winter for smaller homes, that gets pretty cumbersome across a 5,000+ sq. ft. McMansion. Bottom line: having a bigger home is not ideal for your energy efficiency, which is not good for your wallet.
It’s also not ideal for the planet since, as The New York Times points out, many air conditioner aren’t exactly the most environmentally friendly or up-to-date technologies ever invented.
Which brings us our next point.
Benefit From New Techniques & Materials
As we talked about in the 5 Perks of Building Vs Buying, the world of building and construction moves quickly. Techniques and materials that were used ten, fifteen, or twenty years ago to build your current home are no longer the industry standards of today. Rightsizing a home today means you get to benefit from all the progress that’s been made in that time.
“Sounds great, but won’t I just be in the same spot in another ten years?”
Yes and no. While progress is an unstoppable beast, it’s hard to deny that we’re moving at an unprecedented rate these days. Consider the difference in humanity’s developed technologies in general between 1960 and 1990. Now think about all that’s changed between 1990 and 2021. Both gaps are approximately thirty years long, but the technological strides made in the second period are exponentially greater.
In other words, while moving out of a home from a more recent era will also lend itself to the benefits of massive advancements in build quality, homes from before the turn of the century are likely to provide a particularly nice bang for your buck.
Make New Memories & Start Entertaining Again
The older the home, the more memories made within its walls. The desire to hang onto those cherished memories can be another obstacle to rightsizing for empty nesters. But it’s worth mentioning that an oversized house may actually become less inviting in the present. If structural maintenance, cleaning, etc. have fallen by the wayside, that may be affecting the warmth and pride of your environment when you look to entertain, have the kids home from school, etc.
A smaller space that you can throw all of your energy into may just become a more exciting spot for get-togethers than a sprawling mansion with doors that never shut quite right and layers of dust, right? If that sounds like an exaggeration, just ask yourself this: in which scenario do you see yourself excited to host Christmas next year?
Interested in Rightsizing?
The Corinthian Fine Homes team has been building homes and serving families in Central Ohio since 1994. Our luxury Dublin community, The Hamlet on Jerome, offers customizable floor plans in one of the state’s most desirable zip codes.
Please feel free to contact us for information or with any other questions you may have.