Supplement Your Retirement By Downsizing Your Home
Supplement Your Retirement By Downsizing Your Home
My grandparents have downsized twice in the last 13 years, which has allowed them to kill two birds with one stone. First, they have been able to remain in their own home throughout their golden years, and second, they’ve used the profits from each sale. How did they do it? See on to find out.
Tri-Level Living
My grandparents certainly didn’t go into life together thinking they would one day supplement their retirement by downsizing their home. The very first place my grandparents lived in to begin their married life was a one-room rental with an outhouse.
A Boring House
Thus, my grandparents made their first move in 30 years to the Boring house. This house wasn’t drastically smaller than their tri-level at 1,700 sq. ft., but it was a ranch and sat on about an acre of land. It had a large shop with plenty of room to store their items, plus enough space to give them a sense of the country.
A Smart House
Following the sale of the Boring house, my grandparents moved further out of town with the purchase of their current home, which I’ve dubbed the Smart House. The Smart House is about as technologically advanced as they come, which is ironic being as it’s occupied by two people born almost 90 years ago.
So, How Did They Do It?
Through telling the story of my grandparents I’ve been able to demonstrate how one could supplement their retirement income through downsizing their home, but there are several important points I want to make clear that have enabled them to do what they did.
Moral of the Story
The need to downsize your home in your retirement years is a common practice for many people, typically because they are no longer able to maintain it.
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