Downsizing also brings security. You’ll have financial security in the sense that you were hopefully able to make a profit and enjoy increased cashflow to help you throughout your retirement. The security also comes in knowing that you’ve successfully sold your home and you’re going to be OK as you age, whether you’ve downsized into a smaller house, condo, apartment, or community living. And, as I’ve already pointed out, you will have more time and less stress.
WHAT ARE MY OPTIONS?
There are plenty of options when you’re looking to downsize and live a simpler, more carefree and stress-free lifestyle, and you need to consider these options carefully. There is no one-size-fits-all approach to deciding where you should move after selling your house. The decision will depend on a variety of factors, including your budget, your family situation, your lifestyle, and your needs and wants. Some living situations suit a certain type of homeowner more than others. So, read through these next few chapters of the book so you can make the decision that’s right for you. When downsizing, there are generally three options to consider (and different variations of each):
• Smaller single-family house or townhouse • Condo or apartment • Community living
To help you become clear on which option is right for you, ask yourself the following five questions, and keep them in mind as 15
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