I'm thinking about downsizing

[Dok_Champa]

from a big house to a small one instead of throwing $$ away each months.  Kids are grown and the house is empty.  I want to use that $$ to enjoy the world.  Anyone going through empty nest like me?

[YAX]

I need to downsize from bigger belly to smaller one, but it ain't easy at all.

[hmgROCK]

from a big house to a small one instead of throwing $$ away each months.  Kids are grown and the house is empty.  I want to use that $$ to enjoy the world.  Anyone going through empty nest like me?

Is your house all paid for??
If you are still throwing away $$$
Im assuming you still have a mortgage

Talk to your bank
If they will let you sell
Since you been paying monthly
You should have built up some equity on the house

If you decide to leave and sell
You might get some $$$ back

Of course
This is all YMMV

[Mr_Mechanic]

Not quite just yet.  Our son is starting college in the fall.  But we still have two baby girls with us still.

[Fancee]

from a big house to a small one instead of throwing $$ away each months.  Kids are grown and the house is empty.  I want to use that $$ to enjoy the world.  Anyone going through empty nest like me?

I downsized a few years ago already.  No mortgage now.
Kids are all grown, too. 
   *1 son-in-law
   *1 daughter-in-law
   *1 daughter-in-law ... to be
   *2 more daughters still single

Life is quiet now.  And I'm feeling more lazy.

[mind-teaser]

from a big house to a small one instead of throwing $$ away each months.  Kids are grown and the house is empty.  I want to use that $$ to enjoy the world.  Anyone going through empty nest like me?

WISE decision ever if you can pull it off. A house is a house...a place to sleep. NOTHING MORE!!

[Reporter]

So, you want a new mortgage for a new house?

from a big house to a small one instead of throwing $$ away each months.  Kids are grown and the house is empty.  I want to use that $$ to enjoy the world.  Anyone going through empty nest like me?

[tRouBLe]

from a big house to a small one instead of throwing $$ away each months.  Kids are grown and the house is empty.  I want to use that $$ to enjoy the world.  Anyone going through empty nest like me?

I’m not in the same situation but I can relate about downsizing.  I’d suggest getting a smaller place but keep the current one as an investment property, if possible.  That’s what I’m doing.   

[Dok_Champa]

So, you want a new mortgage for a new house?

mortgage to no mortgage

I’m not in the same situation but I can relate about downsizing.  I’d suggest getting a smaller place but keep the current one as an investment property, if possible.  That’s what I’m doing.   

It's a single home and the rent would be too high so finding renters would be hard.  People would rather buy than rent, i'm thinking.

[Reporter]

You don't know Hmong and Mev families, do you? We have many sharing rents. We all can even sleep on the floor together. Grandkids to grandmas and grandmas can live in the same house. No big house is too expensive for us.

Put an ad out. Be soft on the number of dwellers and you'll get families competing for it. Many people find it easier to rent than to buy, because they don't qualify for mortgages or just don't want to hold mortgages for longer terms.

mortgage to no mortgage

It's a single home and the rent would be too high so finding renters would be hard.  People would rather buy than rent, i'm thinking.

[Peachy Fish]

from a big house to a small one instead of throwing $$ away each months.  Kids are grown and the house is empty.  I want to use that $$ to enjoy the world.  Anyone going through empty nest like me?

If turning your house to an investment property isn't an option and downsizing will cut your mortgage considerably, go for it. Just remember to calculate your estimated cash to close and down payment into that cost somehow.

I am experiencing an empty nest too - from having no children at all, but we are looking for a bigger home as ours is pretty small now since we moved my FIL to live with us.
 

[tRouBLe]

mortgage to no mortgage

It's a single home and the rent would be too high so finding renters would be hard.  People would rather buy than rent, i'm thinking.

If you can afford it, leasing would bring you additional monthly income.  My first house is basically paid off so I’m not too concerned about finding renters.  Last I heard, people are renting more due to inability to purchase for a variety of reasons.

[SummerBerry]

You don't know Hmong and Mev families, do you? We have many sharing rents. We all can even sleep on the floor together. Grandkids to grandmas and grandmas can live in the same house. No big house is too expensive for us.

Put an ad out. Be soft on the number of dwellers and you'll get families competing for it. Many people find it easier to rent than to buy, because they don't qualify for mortgages or just don't want to hold mortgages for longer terms.

Too many people either cheating the system or too many incomes cramped up together. 

A Hmong family here on housing.  Paid only $400 a month while there is 7 grandkids (2 just moved in last year) and 6-8 adults and the parents.  You are looking at closed to 15-18 people in a 4 bedrooms home.  Got 6 cars parked in the driveway.  Its why those grandkids never come outside to play with the rest of the neighborhood kids even though everyone go to the same school. 

[Yebleng]

Good move   The housing market is over inflated. Smart people are downsizing to manageable homes because they all know that what goes up must come down. If you have less than 3 kids, you don't need a $400K home with 3000 sqft.