Call it “right-sizing” or whatever you want, baby boomers are facing a housing market that can present opportunities for a fun second chapter — or a cold dose of financial reality.
The final tuition payment has been sent. The kids are finally out on their own and — after opening the well-deserved bottle of champagne you’ve been holding onto for decades for this exact moment — it’s time to figure out your next step.
For many empty-nesters, that means downsizing from the large family home in the suburbs and moving into a chic condo in the city that can rival a small mansion in terms of cost. For some, it’s their first time dealing with the high-cost market in decades. It’s a splash of cold water instead of champagne. So, what's the alternative... maybe now is a terrific time to renovate your home.
The 12 Most Common Renovations for Empty Nesters - When there are children at home, the house goes through a lot of wear and tear, making it hard to justify certain fixes or upgrades. From chipped paint to scuffed floors, dents to stains, parents tolerate a lot of imperfections when their children live under their roof. Once those kids go off to college or move out, renovating an empty nest becomes a practical option for those ready for an upgrade, but not ready to downsize. Approximately 3 out of 4 empty nesters renovate their homes after their children move out, over the next few days, we'll share with you twelve projects they’re most likely to tackle. Stop back often to review all of them.
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