Has your life changed in a way that is leaving you questioning whether or not your home is still the right size? Perhaps you now have an empty nest, or your nest is beginning to fill? Perhaps you’re working from home, or recently retired? One of the certainties of life is change. While change often brings the decision to make a move, there is a recent trend that might be a better fit for you.
Instead of “downsizing” or “moving up,” many homeowners are now finding that “fun-sizing” is the best option for them. Fun-sizing is based on the concept of opting for energetic and exuberant design that breathes new life into the aesthetics and function of your home. For the recent empty nester, this might involve transforming a bedroom into a home gym or hobby room. For the growing nest, it might mean letting go of a formal dining room and transforming it into a play area…at least for now. Fun-sizing may also be about accepting change and the resulting freedom to have your home reflect your own personal style.
How do you decide if fun-sizing is right for you? It usually comes down to finances and (like all things real estate) location, location, location. If refurnishing a room or two, or repurposing part of your yard creates the ideal home, then it’s probably a much better financial approach than selling your current home and buying a new one. If you desire major changes, such as eliminating stairs or leaving behind the maintenance of a large yard, a move probably makes more sense. An important question to ask yourself is “where” do you want to be? Do you love your neighbors & community? If so, there is great value in making your current home work. If life has changed and you have both the freedom and the desire to move to another location – dream big! Your next chapter might be someplace else, where new adventures await.
If there’s no place like home and you decide to invest in changes to improve your current home, it’s best to spend some time collecting ideas and evaluating the desired changes. Think about the seasons and how they impact your lifestyle, both indoors and out. Unless you plan to stay in your home forever, keep your improvements to the house itself as neutral and simple as possible. For example, you can create your desired look and feel with furnishings, accessories, light fixtures & window coverings…while maintaining neutral/classic flooring, cabinets and other surfaces that will still appeal to a wide audience, when you’re ready to sell. Ideally, you want to create an ambiance that energizes you, while still maintaining your investment.
As you weigh your options, take the time to consult with a trusted REALTOR®, as well as your accountant, to learn more about your options, potential tax consequences and realistic numbers. If you’re interested in exploring your options, please reach out to me for a complimentary evaluation at 925-964-5010 or via email at Lisa.Hopkins@Compass.com. Knowledge is power and it enables you to make well thought out and informed decisions.
By Lisa Hopkins-Cochran, Realtor® at Compass
