One of the most prolific trends in the real estate market is “rightsizing”. Rightsizing is a term used to describe the trend of finding the right size property for your specific lifestyle needs. It begins by assessing how you live your life, and ultimately determines the right size home for your needs at this current point in time.
Here is a question that rings loudly for many real estate agents as they assist prospective buyers in finding the right home, “What are the most important aspects of a home for my lifestyle?” This is the question buyers are asking as they try to identify homes for their next purchase. Some buyers find they do not want to downsize because they still need space in their home for visiting family members and guests. They may also find they need entertainment space, or room for a home office or a home gym. The square footage doesn’t need to change in their living space but they certainly want other changes.
Perhaps buyers discover they no longer enjoy yard work and snow removal. Perhaps they recognize that they want a fitness center and a pool and want to be closer to neighborhood amenities such as restaurants, shops, and grocery stores. In many cases, moving to a condominium community that has the same interior space without the exterior maintenance and provides features and amenities not found near their current homes, is the answer.
Perhaps they find the idea of a tiny home appealing. Micro-housing is also part of the rightsizing trend. Some people reach an age where they want some freedom from the trappings of a traditional family home and lifestyle, so that they can focus on other activities such as travel or hobbies, or they just want to simplify. A tiny home makes more sense in this case They can be portable or permanent, and they can be wood frame or made from a steel cargo container, offering options and flexibility.
Rightsizing to under 1,000 SF of living space with minimal storage and close quarters is a new living trend that speaks to a select few, and they do not need to be from an older demographic. In fact, rightsizing can be done by anyone at any age. Rightsizing is about what is the right fit for their life, right now.
If you are considering a change of home, consider the many various choices available to you. What will enhance your life and compliment your lifestyle? It may be time for you to consider rightsizing.