If you're wondering when the right time is to say goodbye to your family home and downsize to a home more suitable for your lifestyle and needs, consider these scenarios:
- You plan on travelling: if you're nearing a time in your life when you plan on seeing more of the world, then leaving a big home just sitting doesn't seem sensible. You can downsize to a home that's more appropriate, and then rent it out for the months you are away.
- The kids have moved out: with your kids moving out and you becoming an empty-nester, you likely don't need the same amount of space anymore. This also leads into the next point...
- You have empty rooms: if you have rooms in your house (especially bedrooms) that are sitting empty and you can't come up with a