Where Will We Be Living? – Our Vision

Articles Where Will We Be Living? – Our Vision

Article written by Jennifer Black and Dedicated Financial Solutions.

Where will we be living? – Our Vision

For many people, their vision of their next 10 or 20 years begins with where they will be living. The thought process that people go through is often not easy. Here is an example of a discussion with a sample client couple.

We are in our early 60s but still living in the family home where we raised our children. Will we still be living there in 10 years?
Obviously the home is larger than we need now. However, there is lots of room for the children and grandchildren to stay when they come to visit. The maintenance of the home is more than we really want to do but we don’t like hiring others to do it. So should we downsize?

Other factors include that we have a 60 pound dog, and many condos do not allow pets of his size. What if one of the children needs to return home to live?

Would we even be happy in a condominium? Parking underground, taking elevators and not being able to walk out the door directly into the backyard are huge lifestyle changes. Now we enjoy the convenience or driving directly into our double car garage, and walking directly into the house from inside the garage, avoiding bad weather.

Currently, we have a good idea of the annual expenses of living in our home. If we moved to a condominium we would have much less control over the maintenance fees.
When we travel, a condominium would be good, because we could lock it up and not worry about it. There would be more security.
If we are considering downsizing, when is a good time to sell? The task of emptying the house is also overwhelming. It will take years.

Our role is asking the questions and ensuring that we completely understand the rationale for any decisions and what the clients’ goals are. What other options are there? What if you have health issues? What activities will you be participating in?

To discuss your financial planning and ensure you’re on the right track to achieve your vision give us a call today.