The kids have moved out! For many families, the time adult children spend living with their parents is on the rise. It’s no longer unheard-of for adults in the 18-29 age bracket to live at home. In fact, it’s now the new normal, with an estimated 52% of them living under their parents’ roof.
That number has increased due to the pandemic, which caused many younger adults to lose jobs in hard-hit service industries and caused them to leave behind high-rent apartments. Nevertheless, higher rents and higher numbers of young people continuing their education meant that number was already at 47% pre-pandemic – considerably higher than the 29% of adults age 18 to 29 who lived at home in 1960.
That means that in many households, the empty nest phase comes later and later. But that can also give you plenty of time to plan what you’re going to do when they do move out. When you’re ready to embrace life without kids around, what are you going to do?
Find The Right Community
Buying a new home is one of the most common things people do when their kids finally move out. It’s not just space that motivates people, either. Many are ready to find a new community to settle down in that better fits their lifestyle.
For many, the answer comes in the form of active adult lifestyle communities. These are neighborhoods that are ideal for older adults who are looking for an active lifestyle among neighbors at a similar stage in life.
Houses in active adult lifestyle communities tend to be bungalows or bungalow townhomes that are mobility-friendly, with built forms that anticipate the needs of older adults who want to remain independent in a community they love.
Downsize vs. Upsize?
Downsizing is one of the most common questions couples face when their kids move out for good. You may not need the extra bedrooms anymore or you may want to reduce your mortgage payments.
But downsizing isn’t for everyone. If you move out of the city, you can also save money without downgrading in terms of space. In fact, there are several reasons to upgrade instead:
- You need a home office to do remote work (now more important than ever) or a space to work on hobbies and personal projects;
- You want a guest bedroom where you can host the kids or other guests, which is a great idea for holidays or if your loved ones live far away;
- You have the option of a finished basement that will let you accomplish many of your goals without interfering with your main living space.
Move Out Of The City
Now could also be the time to leave the city behind. With the rise of remote work, you may not even have to wait for retirement to head somewhere quieter. You don’t have to worry about being close to jobs, good schools, and other things you prioritize when you’re raising a family and advancing your career. Instead, you want to be close to leisure amenities and the things you love to do with your spare time.
When the kids finally move out, tons of great opportunities open up in life. Make the most of them when you decide to move.
If you are interested in even more lifestyle-related articles and information from us here at Bit Rebels, then we have a lot to choose from.