Quote:
Originally Posted by Mazrim
My parents are a great example of this. Retired and in a house that was great when there were also 3 kids there, but now it's way too big for them. They have absolutely no desire to downsize because "what if family wants to visit" and "moving is annoying". I've been gently prodding them about it for years but might need to do some more drastic pushing before their health declines.
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My parents have looked into downsizing, but they always decide their house is still the best option even though it's too big... as it's low-cost, predictable, and gives them the space/freedom they enjoy.
They'd like to do something like a smaller bungalow that still has a nice garage for their RV, but those tend to be more expensive than their 2-story house. Nicer 2 bedroom condos, especially with some sort of "senior living" angle aren't cheap either... and once you consider the high condo fees, would be more expensive month-to-month. Add in the fact that after living in a house for so many decades, it would probably be hard to go into to a situation where there are more restrictions and they have to deal with potentially crappy neighbours and condo boards (don't really blame them there).
In the end, I can see their point of view. Downsizing isn't necessary cheaper, and it often just swaps out one set of issues for another. For some people, staying put becomes a bit of a "devil you know" thing.