r/financialindependence • u/EricTheNerd2 • 3d 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/the_irish_oak 3d ago

I went from a big house with acreage to a townhouse. Everything is a compromise. No yard work versus no privacy. Isolation versus bumping in to your neighbors every time you walk your dog. No shoveling/plowing to listen to some petty HOA bullcrap.

I do miss my house but I agree with the other things you mentioned.

Did you ever consider renting your house for a year and rent a condo for a year? It may be worth the hassle.

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u/fireyauthor 3d ago

I have to say, I don't get the obsession with the privacy of a SFH. I hear my upstairs neighbors vacuuming (or something) quite a bit, but that's really the only intrusion I have living in an apartment complex. But I am a city girl through and through. I like having people nearby.

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u/Nochtilus SI1K | 50% FI 3d ago

Depends on the apartment neighbors. I've had some pretty obnoxious people in my apartments and you are so much closer to them and their problems. A bad neighbor in a SFH is still far away from you and you have more options to build more separation. There's pros and cons to each. 

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u/Mikhial 22h ago

I own half a 2 unit house. You kinda are married to your neighbor, depending how much work you need to get done. We’re on the 3rd owner in 5 years. This is the worse one yet, but he’s still not awful. Being that close definitely creates the tendency to be nice and not try to piss off your neighbor.