Does your house fit your life right now? Home ownership changes as you move through life.
Sometimes I hear someone say that they have lived in the same house all their life. It is not as common as you might think, and I know there is a good reason for that. Life goes by in stages and there are different housing needs in each stage. Most often, people tend to address the needs and changes as they come up, which is why people move.
Let’s take a look at what I mean.
Stage 1 of Home Ownership: Single Individual or Newly Married Couples
Money is often tight and purchasing a home is a huge – and scary – commitment. It can be overwhelming borrowing a lot of money and getting through the sales and mortgage application processes. The house is most often a small house, what everyone calls a “starter home.” It probably had two, maybe three bedrooms and a couple of bathrooms. One for you and perhaps a spouse, and an “extra” for guests. There might be a space to work or a place for your hobby. This is where a first-time homebuyer spreads their possessions out throughout several rooms and learns the responsibility that comes with cleaning, maintaining, and paying for a property. If you think back, you remember how exciting it was for you.
Stage 2 of Home Ownership: Growing Families
After a bit of time, an individual marries, or a couple begins a family. Suddenly, that extra space is no longer extra. It is shared with the work or interests of a new spouse, or it becomes a nursery or child’s room. You think you might be able to manage, but the possessions are growing and so is your child and all their stuff! A second home purchase is on the horizon because you have run out of space. You go through the process of looking for a larger home that is still within the budget but will meet your needs. The mortgage process isn’t as overwhelming because you know what to expect and have experience with it and you know what you can afford for payments.
Stage 3 of Home Ownership: Families Expand and Mature
The family is growing in number and size, too. There might be more babies, and toddlers turn into adolescents and teens. Everyone needs some space of their own and places for friends to gather and the family to function together. Yes, a bigger home with more bedrooms and maybe a finished basement and a large backyard for play. With teens comes new drivers and vehicles, so maybe a three-car garage would be nice, too. By know you probably know exactly the house you are looking for and maybe even the part of town or subdivision where you want to live. Getting a mortgage is old hat, just another hoop to jump through. You are thinking more about packing and making sure the kids are in the schools you want and not too far from their friends.
Stage 4 of Home Ownership: The Emptying Out and More Me Time
Before you know it, the kids are all driving, busy with activities, and out with friends most of the time. Nights are starting to get a little quieter and you are finding yourself alone with your spouse on occasion. It feels odd but you kind of like it. The children are thinking about leaving home for college and their future endeavors. It is exciting, but sad, too. They leave and you walk by empty bedrooms and unused bathrooms. You don’t need all the space you have. Yes, it might still contain a lot of “stuff” but there can be weeks or months between times you walk into several of the rooms.
Again, it is time to move. You look for a smaller home, so you don’t have to spend all your free time taking care of a home and yard. You have other interests you want to pick up and need room for them. Perhaps you want something a little smaller, fewer rooms and bathrooms. However, by now you have specific ideas about the home you want. Location to downtown or other amenities might be important. Features such as hardwood floors and stone counter tops are appealing. You might even be excited about a Smart Home. Once again, you start the process of purchasing a new home that fits your new life without so many people at home, but time and room to pursue your own interests.
Stage 5 of Home Ownership: Retirement
The kids are off on their own. Some might be married and starting their own families. Others are deeply invested in their careers around the nation or globe. For them, your home has become a place for visits, not living. You still want to have some room for those visits, but you are tired of yard work and house maintenance. You are done with having your time, energy, and efforts restricted and guided by work demands. Now you want to spend your time doing what you want at your own pace.
Something like a condo sounds intriguing. Senior communities have lots of activities and spaces with exercise equipment and pools. You can even cut the commute time because everything is only a hop, skip, or short walk away. With your condo you have enough outdoor space for a few flowers and a bird feeder but nothing to maintain. Making this purchase is a joy. You move through the steps that are, by now, old hat and get ready to move.
Stage 6 of Home Ownership: The Golden Years
You are slowing down. Even the volunteer activities and time on hobbies and interests is waning a bit. A nap used to be an extravagance, but now it is an important time to make it through the day. You want a space that includes handrails and grips to help you get up and around. Stairs might be a challenge. You definitely don’t want extra space to clean and maintain.
When family visits, they often stay in a hotel for days-long visits if they are coming from out of town. Those in town come for short visits. You don’t need the space for them to stay. One, or maybe two, bedrooms is the most you want to care for. Any more than one bathroom is not necessary. The concerns you have now revolve around safety and security. You have reduced the amount of possessions and furniture by giving it away or selling it. You just want a place where you can be safe and comfortable. Moving is much easier and there are people to help.
Making Decisions
Whichever stage of Home Ownership you are in, your needs change and the home you need does, too. Some view it as sad to move from a home where they have lived for many years. But memories are mobile. And new adventures and new memories wait to be made in a new home that better fits the stage of life you are in or are coming into. Just like the one-size-fits-all myth when it comes to clothing, there is seldom a house that fits every stage of life.
When you are ready to move from one stage and one house to another, I am here. I will help you through the process and find the home that fits whatever stage of Home Ownership you find yourself.
Tony