Demographics trends
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Backstepping a couple of notches to a single bedroom apartment can be an ideal solution for your current economic situation
I once knew this lady dancer in Paris who had a very busy outdoor life, she never lived in her “studio”in Paris and now if she wants to retire, all she would do is throw all those clothes and shoes that have been pilling on her bed for ages at salvation army,get a few personal belongings that fits that tiny side wardrobe and “Voila”.
When you’ve lived in your home for so long, it may seem unthinkable to live anywhere else. You’ve got lots of good friends and neighbors and are reluctant to give it all up. By the way, if you don’t have any of your kids living wih you at this time, then it should be easier to get a single room apartment. But if there is then you can readjust the room count to fit.Say move from a five bedroom to a two bedroom because you have a child who is not moving any time soon.
Remember you’re no longer going to need all that living space , and it does not make sense to bel paying property taxes on space you are not using. Whatever space you occupy is multiplied by three if you live on your own. you will have to have a handle on maintaining this space properly.Be it indoors or outdoors.
Sometimes I look back at those days when there was a nagging feeling that I will not live to see my retirement day. With the cost of living being what it is, you want to maximize your income while minimizing your expenditures. If you haven’t considered downsizing your living quarters, this may be a good time to do so. While today’s housing sales market is not the best, have you thought of renting out your home to 2 or even three individuals and moving into a single bedroom apartment? This solution offers the best of both worlds. While it’s difficult to sell a home nowadays, rentals are fetching high prices, due to the demand created by the credit crunch.
By taking a 1 bedroom apartment rental, you can easily pay for property taxes, upkeep, your own 1 bedroom living quarters and still realize a profit. The housing market may not come back on track any time soon, so that will be a long term sustainable solution.
Good news, your time and energy won’t be maxed out with maintaining your new contrlable space, leaving you free to do what you please with your time. I remember i started my adult life in a single room 40 years ago in Paris and here i am going back to that format.
There is nothing like having a living quarters that has no maintenance coupled with bad surprises lurking in the corner for you
. There are plenty of property management agents to scout out just what you’re looking for in a small living space
. All you need to do is make a list of the types of amenities you want and, just like any real estate agent, they’ll compile a number of suitable places for you to peruse.
If you enjoy entertaining, you may want a larger, gourmet style kitchen. Do yourself some favor by finding ways to creature comforts and improve your lifestyle with the new savings that you will be making with this downsizing!). I need to be in a place where i don’t have to waste too much energy on all kinds of mundane tax, because i can’t afford to have a maid.
apartment complex with a pool or workout facilities. Is secure parking a concern? Is it not safer and less aggravating to have everything at arms reach? Is a fireplace a must? Do you need a small office space worked into the 1 I remember i started in a single room 40 years ago in Paris and here i am going back to that format.
apartment plan? What will happen to your mode of transportation when you move into a more affordable place?
The more detailed your list of requirements, the better and faster the agent will find what you need. Let the agent know if there are specific neighborhoods you’d prefer.
At the same time, try and be flexible with who and how many people and how you are renting out your current home now. Then you add up all the numbers, you might find that downsizing to a single bedroom apartment may be a very smart move for you and make the most of your retirement time and money. Sometimes don’t you wonder why seniors are not adapting that fast?



























