While it's true that we live in a society that often holds that "bigger is better," it can be worthwhile to shift your thinking and consider whether a smaller home would actually serve you and suit your lifestyle.

Potential Advantages of Downsizing

Increased cash flow:

If you're spending less on your mortgage payment, you are likely to have money leftover every month to allocate for other needs or desires. Or perhaps you could pay cash for a smaller home from the proceeds of your existing home.

More time:

Fewer rooms and smaller spaces cut down on the time expended to clean and maintain. Smaller homes can reduce the time spent on household tasks, leaving more hours in the day to do something else more enjoyable. In fact, when asked about their primary reasons for downsizing, 36% of baby boomers, 18% of Gen Xers, and 19% of millennials said they did so because their previous homes were too difficult to maintain.1

Lower utility bills:

It costs a lot less to heat or cool a smaller home. Typically there is no wasted space, such as vaulted ceilings, in a smaller home. Less square footage decreases the amount of energy expended. Reducing energy is better for the environment and helps to keep your home green.

Reduced consumption:

If there is no place to put it, you're much less likely to buy it. That means you may acquire less clothing, food, and consumer goods.

Minimized stress:

Less responsibility, smaller workload, increased cash flow, and greater flexibility—added together, they all reduce stress. Homeowners who have successfully downsized sometimes appear happier when they're no longer overwhelmed by the demands of a larger home.

Potential Disadvantages of Downsizing

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Fewer belongings:

Moving to a smaller home would probably result in selling, giving away, or throwing out furniture, books, and kitchen supplies. You'd have to sort through and empty out the garage, basement, and attic. Some people form emotional attachments to stuff and can't part with any of it.

No room for guests:

Hosting a huge holiday dinner might be out of the question in a smaller home. Out-of-town guests might need to stay at a hotel when they come to visit.

Space restrictions:

Some homeowners report feeling cramped because there is less space in which to maneuver. It's hard to get away from other family members and enjoy private, quiet time because there are fewer rooms to escape to when needed.

Less prestigious:

Sometimes appearances are more important than comfort levels. For homeowners who place a great deal of importance on how they are perceived by others, a smaller home might not project a coveted image of financial success.

Lifestyle changes:

Especially for long-term homeowners, trading down means changing a lifestyle, and some people are resistant to change. There is a certain comfort level obtained by staying with what is familiar.

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[ PART THREE ]

Technically, the world is your oyster. But, some of the pearls we have found are worth taking a look at.

Bali is at the top of our list. It has got something for everyone, whether you’re looking for an authentic Indonesian experience or a dip into island luxury. The same goes for Dubai, minus the island part. It’s an expat haven.

And while you’re in Asia how about heading to India, the place of a million find-yourself clichés, but the full-on sensory assault means there are few better places for stepping right out of your comfort zone.

A multi-destination trip through Far East Asia is on our bucket list currently. We went for an African safari last year after being stuck at home for a year and a half prior to that. We hope to capitalize on the off season on our extended vacation.

However, if you’re seeking a more easygoing trip then Europe is the place for you. Throw in some adventurous activities - from surfing to skydiving - if you get the sudden urge for an adrenaline rush. Wherever you decide to go, you just have to plan well. This is some key stuff we learned along the way.

Tricks of the trade

• Travel light. You don’t want to be lugging around lots of heavy, clunky bags. We like to keep travel packing cubes ready to go with toiletries, medications and electronic accessories.   
• Plan the logistics ahead of time such as, accommodation, insurance, home management in your absence etc.
• Make sure to savor the flavors of wherever you are, literally and figuratively. There’s lots to eat and see anywhere you go.
• Stay connected as you take the road less traveled. Be spontaneous and take the scenic route even if it is sometimes longer. But don’t forget to keep your phone charged because you never know when you may need it for directions or to take a picture.
• Relax. Be present. Don’t think about what you’ll be doing later. Make space to relax and savor the moment. Stroll casually.

Let’s be honest, too many of us falsely believe that traveling the world is for the youngsters and it can be but, you can travel your way through empty-nesting and into your retirement, too! Whether you choose to go on a round the world trip or on a cruise, we promise you that choosing to travel the world and explore different cultures, food and scenery will be the best decision you made for yourself.

So what are you waiting for?

MORE READING

• Empty Nester Travelling 101 - Part one
• Round the world travel - Part two

And that is when you know you need to move. A house by the sea, anyone?

As a homeowner, one of our greatest fears is that an unforeseen issue — a clogged gutter, a cracked foundation or a leaky roof — will snowball into a colossal fail that costs us thousands of dollars. Maintenance is the best (and only) way to avoid the most costly home repairs. The hours spent cleaning gutter lines, servicing air conditioners, putting sealant on the driveway or deck, and the list goes on and on. But, how long can you keep it up? With a larger home, you’re likely to face high maintenance costs. On average, you can expect to set aside at least 1-4% of your total annual cost for repairs - you can budget less for newer homes and add more for older homes that may require more repairs.

What does that entail? Imagine if you have a 20-year-old house that initially cost $500,000, you may require about $20,000 annually for repairs, whereas a brand new place for the same price may only need $5,000 for unplanned maintenance and basic upkeep. Now imagine you had a smaller home with a lower price point which is likely to have an even lower yearly maintenance cost because, with less square footage, you spend less on things like flooring, roofing, heating and cooling costs. Downsizing might also mean that there is smaller or no outdoor living space, resulting in little to no cost to maintain your yard.

You’re now left with more time, energy and disposable income to curate the life you have always wanted.

With unlimited opportunities to play, it’s easy to get overwhelmed. Before you dive in, take a second to reflect on why you want to downsize and what the process will involve realistically. Some questions to get you started are:

• What are my motivations for downsizing?
• What do you love about your current home? Create your must-have list.
• What will my family or I gain from downsizing?
• What are my primary concerns about downsizing?
• What is my timeline?
• What are my current and future needs? 

Whether you’re downsizing because you want to retire, save money to travel, or are an empty nester, moving into a smaller house can be exhilarating but daunting. There is a light at the end of the tunnel, however. Here are some benefits to remind yourself of when you get too overwhelmed:

• The reduction or elimination of your mortgage
• Fewer mortgage payments = More retirement savings
• Greater freedom to travel
• Cheaper utilities
• Fewer chores = More free time
• Lower maintenance costs
• No clutter, no stress

This is your moment to start fresh. It's cathartic to begin letting go of some things you've been holding on to. Turn that extra bedroom into a home office, guest room, gym or sanctuary. Put your energies into losing weight, pursuing new hobbies, exercising more or any new passion you can think of.

Now that you have more time on your hands use some of it to reinvent yourself.

Downsizing as an empty nester is about making your home dreams come true. Whether you want lesser square footage to clean or that dream home that emphasizes outdoor living or maybe paying for excessive space, heating and electricity are just not adding up for you. In every scenario, this new time in your life can and should be an exciting experience, in our opinion!

Size and Cost

There are hundreds of variables in determining how much square footage you need. The national averages state that

• A small house is anything less than 1,000 square feet
• An average home is in the 2,500-square-foot range
• Large homes are 4,000 square feet and larger.

When buying a new home to downsize, the most crucial question is - how much space do we need? We have found it helps to break down our needs into the different types of rooms in a home and then consider the square footage. Think about your bedroom. Think about your shared living spaces and kitchen wish list. Do you want a separate dining room? Do you need a space for entertaining? Do you dream of a home office, craft room, library, or other dedicated space? How many bathrooms do you need? Should your garage be smaller… or more oversized? This is your floor plan.

National Size averages

Percentage-wise, the National Association of Home Builders states that this is how much you should allocate for each type of room:

• Master bedroom – 12% (300 square feet)
• Other average bedrooms – 16% (432 square feet)
• Master bathroom – 6% (154 square feet)
• Kitchen – 12% (300 square feet) Dining room – 8% (192 square feet)
• Family (great) room – 12% (296 square feet)
• Living room – 9% (223 square feet)

When downsizing, it’s all about you. With your children out of the house, you don't need all of the square feet (or the stuff!) in your empty nester home. So first things first, how big should your bedroom be? Should it be on the ground floor? Do you need more than one for when the nesters visit? Maybe a walk-in closet is what you need? Do you get many visitors? If yes, perhaps an additional guest bedroom should be on the books for you. An average master bed is about 300 square feet, while other bedrooms are approximately 210 square feet on average.

Once your bedroom is sorted, it's time to decide on your bathroom. What features do you want in yours? A clawfoot tub? A closed-off toilet? His and her sinks? The options are endless, and it’s up to you to decide what you would like in your bathroom. We recommend ensuite bathrooms with the bedrooms in the house and a small powder room on the main floor for entertaining and family alike!

The next significant consideration is the shared living areas. This includes the living, family, dining, and kitchen. Is having a spacious place to host guests vital to you? Do you want that space to be open and connected? Are you an indoor-outdoor living person?

If you’re looking to save money, a smaller kitchen and living area without an additional formal dining room may be exactly what you need. In square feet, the average kitchen is about 285 square feet, with living rooms starting from around 215 square feet.

As far as settling in quickly goes, the colours we see around are instrumental for us. Create a colour scheme that soothes you. You can choose to have an accent wall, use accent pieces, or paint the entire house in a colour scheme that brings you joy or total relaxation.

This is your chance to build and enjoy a home. Think about the things in your current home that make your heart sing and make you feel right at home. How are you taking that feeling with you? What are some areas you wish were different currently? These are some things we think are essential to prioritize when making decisions about your move.

——

P.S. Don’t forget to add to your floor plans to see how you can continue to use the space effectively as you age. For example, multipurpose rooms shift and change as you age.

[ PART TWO ]

What if you could plan the trip of a lifetime and instead of the usual 10 day trip to the likes of Bali, Europe or Dubai, you planned a flight itinerary to many locations, for about the same amount of money?

As you moved beyond the half century mark, did you suddenly find yourself with an empty nest which brought about a period of introspective re-evaluation? We think you may have ‘empty nest syndrome’. The two most common symptoms are a sudden overabundance of free time and feeling like you have a hole to fill.

A remedy? Travel. It will help you get over the bitter sweetness of saying goodbye to the last birdie to leave the nest. Trust us, we speak from experience. Our third and last child went off to college abroad and so my husband and I decided to do the same and we don’t regret it one bit.

What if you could plan the trip of a lifetime and instead of the usual 10 day trip to the likes of Bali, Europe or Dubai, you planned a flight itinerary to many locations, for about the same amount of money? We know what you must be thinking; “it must be too expensive” or “this only works for long 3-6 month long vacations”. That’s where you’re wrong.

Whether you want to go on a fast-paced trip where you spend a few days in each location or on a slower trip, where you spend a week or more in each location, there’s options for everyone.

Cost really depends on the number of flights and where you are going. You will be able to find multi-stop tickets for as low as $1,200!

Now comes the rest of the planning.

Here’s how to do it in 10 steps:

1. Research the different airline groups and companies offering RTW tickets. We recommend using Airtreks.
2. Determine who you are traveling with or are you going solo?
3. Determine your budget for airline tickets and daily expenses.
4. Determine how long you can or want to travel.
5. Choose your route and destinations you want to visit and buy your around the world ticket.
6. Apply for visas, book accommodations and get any Immunizations/ travel vaccines you need.
7. Research each destination to have an idea of what you want to do but don’t over plan. You want to leave time for unexpected discoveries, trust us.
8. Buy travel insurance for your RTW trip.
9. Pack for your trip but keep it light!
10. And, bon voyage! You’re ready to take on your empty-nester-around-the-world trip.

MORE READING

• Empty Nester trabvelling 101 - Part One
• Where are the empty Nesters going - Part three

It cannot have been easy to pull yourself through the monotony, with only the odd vacation here and there. When was the last time you did something just for you? When was the last time you lounged in the sun, sipped a cold one and just soaked in the calmness? If you can’t recall it, then it’s time to give serious thought to escaping the frigid and frosty weather that comes next.

Are you a fan of the annual single-digit whiteness looming in the near future or have you reached a point where you’re tired of winter in Canada? Are you a fan of winter activities or are you ready to spend the blistering -30 degree cold somewhere more tropical? Winter is not for everyone, and fortunately, you’re not alone. Every year, my husband and I leave home to be snowbirds.

While the rewards of snowbirding are pretty obvious, the process of becoming a snowbird isn’t. Questions like how do you start living this new, exciting lifestyle? What needs to go along with you, and what has to stay home? What are the hard costs you need to keep in mind? What pitfalls do you need to watch for? I can help you answer all of that.

Before we begin, here’s what a ‘Snowbird’ is:

The term “snowbird” has been around for almost 100 years and was first used in 1923 to describe seasonal workers who moved south for the winter months. By 1980 however, it was more commonly used to describe the retired tourists who flocked to the south in the winter months. The latter definition stuck.

Snowbirds start to head south between November and January and often stay on until May. Often snowbirds wait until late December or early January to relocate so they don’t miss out on spending the holidays with their loved ones.

Fun fact: the majority of snowbirds are between the ages of 45 and 68.

Where should you go?

The question though is, how long do snowbirds stay and where? We have found that the average snowbird spends between 3-6 months at their location, with well-established snowbirds staying as long as 8 months in their secondary location. And, speaking of locations, Florida is a long standing favorite for snowbirds. The hundreds of active adult communities, the warm coastal climate, beaches as far as the eye can see and the affordable homes make the Sunshine State a favorite for retirees and snowbirds alike.

Another sun-seeker favorite is Arizona, the Grand Canyon State with its seasonally mild weather, resort-style golf courses, and diverse scenic landscapes. If budget allows, head on over to Hawaii and immerse yourself in island life.

Beyond Florida and Arizona lie the less coveted but equally welcoming states of Texas, North Carolina, South Carolina, Southern California, and Nevada. These are perfect for active adults who prefer to avoid frigid temperatures and the woes of precipitation.

If you are feeling adventurous, looking for community and would like to avoid the hassles of city life then a “white city” may be the place for you. “White cities” are recreational vehicle (RV) parks that snowbirds flock to in the summer covering the bird’s eye view in a white sheet with their motorhomes. A significant chunk of the snowbird community is made up of RV-ers, many of whom own one for the sole purpose of snowbirding down south.

The North Americas not for you? Are you seeking more exotic pastures across the world? Want to experience the thrill of a new place one more time? If yes, then places like Thailand, Dubai, Portugal, Mexico are made for you. Not only is the weather warm and inviting all year long but they take hospitality to a new level. What’s better is that we have snowbirder friends who have flocked to these places and have simply not wanted to leave!

Where do you live?

Now that you know where you would like to go, it’s time to figure out where you will live? Would you rather rent a house, buy a summer home or invest in a motor home? Would you like to hold on to your primary residence or would you like to give it up for rent? Are you looking to explore the region you’re heading to before you decide where to settle? What kind of house would you like to stay in, a single family home, a condominium or maybe an attached home?

A number of decisions need to be made and certainly there are benefits to setting up camp in 2 locations but it can prove costly. If you are a retiree, it may prove beneficial to sell the large, difficult to maintain home at your primary destination and instead move to a smaller, easily manageable home.

This is where we got stuck because how does one just leave or sell their home? One we spent years building? What really helped us was the continued guidance One Stop Home Pros offered. This sounds like promotion but we mean it. They kept reminding us that it’s doable, motivated us throughout the process, helped us sell our house at an amazing price and took us through the process of buying a smaller house just outside the city to us save money for our snowbirding experience. I have personally recommended them to every snowbird I come across because we would not be in our 4th year without them.

MORE READING

• Lets start planning - Part two
• The pros and Cons of snow-birding. - Part Three

[PART THREE ]

This is part three of a three part article on snow-birding.

To start from the beginning read the first part here

The term “snowbird” has been around for almost 100 years and was first used in 1923 to describe seasonal workers who moved south for the winter months. By 1980 however, it was more commonly used to describe the retired tourists who flocked to the south in the winter months. The latter definition stuck.

Snowbirds start to head south between November and January and often stay on until May. Often snowbirds wait until late December or early January to relocate so they don’t miss out on spending the holidays with their loved ones.

To learn more on snowbirding - first part here
Six simple steps to effective planning - second part here

These are some pros and cons that my husband and I mulled over before we started snowbirding on an annual basis. Take these into consideration but don’t forget to contextualize them to your life, your needs and goals:

Pros

• Bye bye harsh winters, hello summer sun
  In milder climates you can enjoy outdoor recreation activities, such as golfing, boating, and hiking throughout the winter season.
• An outdoorsy lifestyle
  No more below-freezing temperatures, too much time indoors, and constantly removing snow, instead spend time outdoors enjoying your favorite activities, whether it involves visits to local small towns or excursions to state parks.
• Find your (snow )tribe
  In the months you spend away, new friends await. Year after year, you can reunite with friends from across the country and also meet new like-minded individuals.

Cons

• Planning is key
  Whether you are a newbie or experienced snowbird, planning, packing and scheduling is inevitable and can be overwhelming.You have to make arrangements for accommodation, travel and daily needs in the secondary location while prepping your primary residence for winter without you.
• Cost
  Snowbirding can easily become expensive with cost of living, healthcare costs, etc. Active adults can take on part time or remote work but retirees must plan costs in relation to retirement income sources.
• Finding the right vibe
  Building a routine, meeting like-minded individuals and finding things to do in a new place can be challenging. If you opt to live in an active adult community then you have the advantage of partaking in activities designed to bring like-minded people together.

Retiring has a way of giving seniors some freedom that provides them with various ways of enjoying themselves. Snowbirding is one such option to experience picture-perfect Northern summers and the best of the south's mild winters -- hitting "Goldilocks" ranges of temperatures all year long!

MORE READING

• Snow-birding Overview - Part One
• Lets start planning - Part two

[PART TWO ]

This is part two of a three part article on snow-birding.

‍

To start from the beginning read the first part here

‍

Snowbirding takes some finesse to make sure all your affairs are in order. Here are 6 things to keep in mind about becoming a snowbird:

‍The term “snowbird” has been around for almost 100 years and was first used in 1923 to describe seasonal workers who moved south for the winter months. By 1980 however, it was more commonly used to describe the retired tourists who flocked to the south in the winter months. The latter definition stuck.

Snowbirds start to head south between November and January and often stay on until May. Often snowbirds wait until late December or early January to relocate so they don’t miss out on spending the holidays with their loved ones.

Let’s start planning:

Whether you rent, buy or sublet, the key is to plan well. Snowbirding takes some finesse to make sure all your affairs are in order. Here are six simple things to keep in mind about becoming a snowbird:

1. Choose carefully:

It sounds obvious but choose your snowbird home carefully. Snowbirding is not a vacation. You need a home that's comfortable during the season when you will be living there. Don’t keep your travel plans a secret. Be sure to carry an easily accessible copy of emergency contact information just in case.

2. Take your time:

The only race you have to run here is to beat the snow. If you don’t plan ahead, it’s likely you will forget something obvious. Write down everything you have to do before you leave. Be sure to explore unexpected “finds” as you go.

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3. Lock up:

Did you shut the water off? Do you have a friend to check the house periodically? Is someone taking in the mail and door flyers? They’re small things, but can cause big problems if not addressed.

4. Cover all your bases:

Check and recheck all your documents such as medical records, prescriptions and license and passport. Make sure your documents are valid and don’t forget to carry your medicines in their original drug store containers with the labels. Check with your insurance agent to make sure everything is up-to-date before you begin your journey.

5. Go digital:

The internet has made paying bills and keeping up with loved ones easier than ever. Stay updated about your northern home's electric bills, monitor your home security camera, operate lights through home automation, and even grant entry through electronic lockboxes in case of emergencies.

6. Pack Light:

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If this is your first trip down south, we guarantee that you are packing too much stuff! We advise you to only pack what you need to get you to your winter destination. The rest, you can get when you arrive.

MORE READING

• Snow-birding. An Overview- Part one
• The pros and Cons of snowbirding. - Part three

As families grow older, one moment that acts as a signpost to a significant new chapter in life is the departure of your children from your home. Watching your kids go to college or chase after their dreams can be the most fulfilling aspect as a parent, but it feels bittersweet to have your children move out and spread their wings, leaving you with “empty-nest” syndrome.

The “empty-nest” syndrome is amplified by an empty house, where you find yourself using less and less of your home and find it more and more difficult to maintain it. As you get older, the responsibility of mowing your lawn or climbing a ladder to clean the roof is a hindrance to the life you envisioned for yourself. This could be a sign that downsizing could simplify your life. So should you move? If you ask me, the answer is yes, yes, you should.

If you’re not convinced, ask yourself:

• How do I want to live?
• Where do I want to live?
• What are the financial benefits of downsizing for me?
• How is downsizing going to help me plan for the future?
• What will I do with all of my stuff?

While simply selling a big house and purchasing a smaller house in a quiet location may help you put more money in your pocket and cut down on wasted space, there’s a better option: downsizing to a condo. We would go as far as saying that it’s a more logical trade. Yes, you may have to sacrifice some space, but do you really need it if you are getting a staggering array of amenities and high-end accommodations in exchange?

Not having to worry about extensive maintenance in the future as you age is and should be a priority. In my personal experience, the lack of unnecessary rooms and no exterior to keep up has made life much easier and left me with a lot more free time to explore the hobbies and interests I had shelved earlier.

As with everything in life, living in a condo has its fair share of advantages and drawbacks. So before you make a big decision, here are some things we think you should take into consideration.

Isn’t a condo just an apartment?

A condo is a privately owned space within a building which can take shape in the form of a townhouse, loft or high-rise apartment. The main differentiating factor between an apartment and a condo is that an apartment is usually rented instead of owned, and condo residents pay Homeowner Association (HOA) fees for maintenance of all communal areas and amenities like pool, gym or library etc.

MORE READING

• Why or why not to condo- Part two
• Let's Condo. Where do I begin - Part Three

[PART TWO ]

The “empty-nest” syndrome is amplified by an empty house, where you find yourself using less and less of your home and find it more and more difficult to maintain it. As you get older, the responsibility of mowing your lawn or climbing a ladder to clean the roof is a hindrance to the life you envisioned for yourself. This could be a sign that downsizing could simplify your life. So should you move into a condo?

This is part two of a three part article on condo-living.

To start from the beginning read the first part here

The Pros:

• Less maintenance:
  Consider this; no more having to spend your weekends mowing the lawn, pressure washing the driveway, and weeding the flower beds. Now ask yourself, Do you have trouble keeping up with lawn care and other exterior maintenance?Does cutting the lawn and maintaining a garden bring you joy?
• Fewer chores:
  As Marie Kondo (a Japanese organizing consultant) said, if it doesn’t bring you joy, get rid of it, it will make you happier. Fewer things and fewer rooms mean less time spent cleaning up. This also means a surplus of time for all the activities that will enrich your life.
• Disposable Income:
  With a condo, even a luxury one, you could get a lower mortgage and insurance payment price along with lower utility bills because the space is smaller. Maintenance fees and upkeep are not your headaches, leaving you with more money to lower utility bills since it’s a smaller space, and you won’t be responsible for the maintenance fees and upkeep. Plus, when you sell your current home, you’ll likely have money left over since well-cared-for single-family homes can go for far more than the cost of a condo.
• Onsite Amenities:
  Every condo community is different, but you’re likely to find access to varying amenities in most, if not all, condo communities. These might include a pool, tennis courts, gyms, and community rooms. A number of condos also offer enhanced security measures.
• Community Building:
  Living in the same building or in close vicinity of other people harbours a sense of community that you would not be able to replicate in a typical neighbourhood. Even better is choosing a condo based on your personal preferences and finding like-minded people.

The Cons:

• Not enough space:
  Moving from a house to a condo is undoubtedly an adjustment and takes some time to get accustomed to. You should choose a townhouse, loft or high-rise based on your space needs. Take time to understand how much space you need to live comfortably and what spaces are a priority for you. Pay close attention to the things you use daily. Could they all fit within a condo with some careful storage solutions? We’re betting the answer is yes.
• Noisy neighbours and lack of privacy:
  Two words; shared walls. As someone who is used to living in a house that is not connected to your neighbours, the experience regarding noise will be very different from what you’re used to. You could also be restricted on aspects of your home like paint colours, solar panels, and landscaping, which could intrude on your sense of control. Ask yourself, does your need for privacy and control outweigh the benefits of condo living?
• HOA feed and other added costs:
  The per square foot price for a condo may be higher than a single-family home, but there are a number of factors that impact the price, such as location and inflation. Additionally, most condo communities have an added Home Owner's Association feed which takes care of the maintenance costs. The solution? Create a budget for yourself and work your way back from that.

MORE READING

• Condo Or Condon't - Part One
• Let's Condo. Where do I begin - Part Three