Downsizing at 60? The Hidden Costs Nobody Warns You About

Comments · 173

• MI

  @michaellawrence4789 · 1 month ago

  So, keep your big house and brave the winters every year. No matter when you sell you are going to have costs. Thats the way it goes. Retirement is about change. If the change makes you happy, the money spent is worth it.

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• VI

  @vipkarl · 1 month ago

  Yea, don't move somewhere without knowing where youre moving.  Even Jed Clampet didn't want to move to Beverly Hills cuz of the unknown

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• JI

  @jimpie231 · 1 month ago

  Sorry, but I did it.  I sold our 2 story, built a tract ranch. Dollars were less, so numbers were better. Our ranch was built in 2003, I was 57 years old. This is the best home we’ve ever had.

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• TA

  @tazabe · 1 month ago (edited)

  We just kept the paid off house we lived in for 21 years and bought a smaller house in a cheaper market (about 50% of the total carry cost). Now our adult kids our renting the house, which covers the taxes and upkeep cost. It's a win-win. Their cost is 1/3 what it would be otherwise to rent or buy, and eventually they will inherit the family house regardless.

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• DA

  @davidvines6498 · 1 month ago

  My wife passed away in 2022 , I gave away furniture and knick knacks galore, sold the home in Dallas and downsized when I got to N Alabama.  I miss my wife, but I don’t miss the house one bit

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• JO

  @johnjamele · 1 month ago

  There's a lot if double dipping to exaggerate the pain here- the couple pays $20k to move their furniture,  then buys new furniture.

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• PA

  @pamelab7235 · 1 month ago

  I finally got my dream house when I was 70.  Yes it’s good sized, but we could live on the first floor if we had to.  After moving I said to my husband the only way I’m moving again is in a pine box.  I’ve done all the traveling I want to do.

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• OM

  @OmarioKing_15 · 1 month ago

  I've never figured out why a realtor gets paid 6%. This is $60k potentially for a single transaction!!

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• DD

  @ddhill7150 · 1 month ago (edited)

  The irony of this video is Dave & Sara have my wife and i's initials... we're 6 months out from retirement  with a 4 bdrm colonial in MD, looking to move to the DR... This hit home like a ton of bricks.... Thank You!!!!!

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• RE

  @RetirementInConfidence · 1 month ago

  Retirement is about change. If the change makes you happy, the money spent is worth it.

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• RO

  @RossWexford · 1 month ago (edited)

  The greatest difficulty when downsizing is to find a quality small bungalow with a garage, some garden, in a good area. These houses are in huge demand, and the buyers are downsizing with money in their pockets. Not interested in living in a flat with neighbours I don&apos;t know jammed in on top of me.<br>It is a waste of money updating a house before a sale, buyers may hate the new kitchen you installed, rip it out, and install another. Happy to live in Ireland where a real estate agent charges 1% commission, and there is no tax on the sale of a primary residence. I&apos;m retiring this year, have considered buying a 2nd home somewhere warm. Did the math, will keep my money invested, and rent a winter home for a few months each year. Pay three months discounted winter season rent, arrive with a suitcase, leave with a suitcase three months later. That&apos;s easy living.<br>Borrowing against a home should an absolute resort for a retired person.

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• DZ

  @dzerres · 1 month ago

  Boil it down to this: &nbsp;rent. &nbsp;You can always chage your mind and you don&apos;t hhave any obligations. &nbsp;If you an afford it rent for a year before selling your old place and leaving your family and friends.

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