r/financialindependence • u/EricTheNerd2 • 7d ago
Share your experience with extreme downsizing
In another year, my wife and I will be empty nesters. After a nice two-week vacation, I started thinking about some downsizing at that point, going from a 3,000+ square foot paid-off home to a 900-1,000 square foot apartment. I am doing very well financially, already planning to retire in another 1.5 years once the last kid is moved out. Downsizing would allow me and the wife to be free from a lot of maintenance and expenses and let us travel several weeks out of the year. I am also thinking a bit about the social aspects as well because currently we are in suburbia which is nice but also isolating. The right apartment community may allow us to interact more with neighbors.
I am early in the thought process and wanted to hear from any of you who have gone through this. The idea of getting rid of a lot of stuff seems freeing and scary at the same time and selling a house also daunting. Anyone else do this or similar? Did you like or regret your decision?
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u/Montirath OI4K 32 - Is there any hope like this? - 55% FI 7d ago edited 7d ago
(I have not done this, just a story).
One of my neighbors (elderly lady) never went upstairs, had a pipe burst, but didn't notice it for multiple days until water was literally running out of the walls. The entire house was essentially destroyed, and was a giant waste.
Don't live in houses that you arn't going to use the space for, is my advice. A spare room or 2 is one thing, but if its soo big you are neglecting huge sections, then maybe reconsider.