I’m a Retiree: Here’s Why I Didn’t Downsize Even Though It Would’ve Saved Me Money
When you retire, the expectation is that you’ll downsize your entire life. You’re expected to sell your big house, move somewhere smaller and, in turn, save some money. But not every retiree loves that idea. Some of them choose to stay right where they are, even if it means they might not save as much.
GOBankingRates talked to some retirees who decided not to downsize and why they did it.
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It’s Where the Memories Are
“I’ve been in this house for over 40 years,” Sarah, a retired teacher, said. “My kids grew up here. We’ve had so many birthdays, holidays and incredible moments in these rooms. Every part of this house means something to me. I gave birth here, for crying out loud! I can’t imagine leaving all that behind.”
Her friend Elizabeth, a retired graphic designer, feels the same. “This house is my comfort zone,” she said. “It’s where I feel like myself. I’m sorry but no amount of money could make me give that up.”
Their houses are memories unto themselves — and they don’t want to give up those memories.
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It Just Makes Sense
But it’s not all wistful memories — there are also practical reasons to stay.
“I don’t have a mortgage anymore,” Sarah said. “And over the years, I’ve made the house easier for me to live in as I get older. I put in a shower I can walk into, made the doors wider. Moving somewhere new now just doesn’t make sense to me.”
Elizabeth shared a similar sentiment. “The house is finally paid off and now I sell it? No thanks!”
Plenty of Room for Family
But the best part of keeping a big house? Having space for their adorable grandkids. “I love when the whole family comes over,” Elizabeth said. “The kids can run around and play, and we’re not all crammed in. Those times together mean everything to me.”
Sarah agreed. Her house might be quiet most days, but it comes alive when her kids and grandkids visit. “The laughter, the noise, the love — it’s everywhere,” she said. “And I get to make that happen.”
It’s Not Always Easy
That said, living out your retirement in a big house is not without its disadvantages. “The house keeping alone on a large place is a lot,” Elizabeth said. “Housekeepers are expensive and just paying the utilities can be a lot too!”
Still, it’s worth it to her. “We all have to do what feels right for us in retirement. What works for one person might not work for another.”
It’s About What Matters Most
For Elizabeth, Sarah and retirees like them, it’s the intangible things that matter most.
“It’s not about how big my house is or how much money I have,” Sarah said. “It’s about the love and happiness I feel here. You literally can’t put a price on that.”
Elizabeth added, “This is where my heart is. It’s where I feel like me. No other place could give me that.”
While downsizing is a good choice for many retirees, it’s not the only one. Sometimes staying put in the house that raised your family is even better.
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This article originally appeared on GOBankingRates.com: I’m a Retiree: Here’s Why I Didn’t Downsize Even Though It Would’ve Saved Me Money
