Sure you can argue they dont need that space, but a lot of kids return after college. If I had kids I’d only downsize once they are well established. It’s about ensuring the security of your family and ensuring they have a place to come back to.
Is it better to let that sit space vacant for 4+ years though?
Is there a third option? It’s an unused room in a house that’s being used.
They can rent it out, leave it out, or sell their house and downsize but then what if their oldest is out of work and can’t find a new job and has to come home, but now because they downsized there’s no room for them. How does that help? It seems like there are only two valid options unless I’m missing something.
In this case I understand not downsizing until your kids are established with a job/place to live.
Depending on equity and their mortgage payment it may not even be possible to downsize without paying more per month. That’s the insanity of the current market.
Remember this is an occupied family home with an unoccupied room. Not a whole property.
Sure you can argue they dont need that space, but a lot of kids return after college. If I had kids I’d only downsize once they are well established. It’s about ensuring the security of your family and ensuring they have a place to come back to.
Is it better to let that sit space vacant for 4+ years though?
There are two options? Rent it for profit or leave it empty?
Is there a third option? It’s an unused room in a house that’s being used.
They can rent it out, leave it out, or sell their house and downsize but then what if their oldest is out of work and can’t find a new job and has to come home, but now because they downsized there’s no room for them. How does that help? It seems like there are only two valid options unless I’m missing something.
In this case I understand not downsizing until your kids are established with a job/place to live.
Depending on equity and their mortgage payment it may not even be possible to downsize without paying more per month. That’s the insanity of the current market.
Remember this is an occupied family home with an unoccupied room. Not a whole property.
What would you suggest?