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Hamptons.com
November 3, 2016

Five Questions To Consider Before Downsizing Your Home

Rocco A. Carrieroby Rocco A. Carriero
in Real Estate
Home Real Estate

As retirement approaches, your lifestyle and priorities begin to change. Chances are the days when you wanted more space – the sizeable dream home with the backyard big enough to entertain a growing family – are long gone. Instead, many retirees are looking for convenience, simplicity and accommodations more suited to their needs as “empty nesters.” As you approach this new life stage, take time to assess how your current living arrangements suit your changing lifestyle.

Here are five questions to consider as you decide whether downsizing is right for you:

1. Does your home still have the right feel?

A big house that was perfect for a family may seem overly spacious with just one or two inhabitants. It may be time to consider a change if you find that there are under-used rooms in your home or if you’re ready for a new environment. However, if you are enjoying the freedom more space brings, then your current house may be just the right fit. That might also be the case if your home is a gathering place for extended family and friends.

2. Is the upkeep sustainable?

In general, a larger house requires more work and regular investment. As you move into retirement, you may want to reduce the stress of cleaning and home projects. If working around the house and yard is something you enjoy, it may make sense to stay put. But, a smaller home will likely be less of a burden, especially if it’s move-in ready.

3. Are you ready to de-clutter?

Moving to a smaller space is a reality check for many people. All of the things you’ve been accumulating and storing for years probably won’t fit in a smaller home if you decide to downsize. That means you need to spend time going through your personal belongings to determine what’s of real value and what can go. This can take time, so it’s a good idea to get started well before it is time to move.

4. Are there cost savings?

In many situations, a larger house can be sold for a price that is higher than the cost of a smaller home. This could result in a smaller (or no) mortgage and potentially some extra money in the bank. But it is not always so simple. There are costs associated with buying, selling and moving into a new place that could impact your retirement savings if you’re not careful. Evaluate how downsizing would affect your budget and review your situation with a financial professional before taking action.

5. Where are you spending your time?

If your retirement dreams include traveling, visiting family or owning a vacation property, you may be away from home more often in retirement than you were in your working years. Having a smaller home that is easier to maintain could make sense in these situations. Alternatively, you may be looking forward to staying put and finally having time to enjoy the home you worked so hard to maintain over the years.

Downsizing doesn’t need to be rushed. Consider your priorities and if you decide to downsize, give yourself plenty of time to do it right.

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San Gennaro Feast of the Hamptons

September 13 @ 10:00 AM - September 14 @ 10:00 PM
Good Ground Road Hampton Bays, N.Y. 11946
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Tour of the Beebe Windmill with Southampton Town Historian Julie Greene

September 13 @ 11:00 AM - September 13 @ 12:00 PM
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The Bridge IX

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LongHouse Reserve: Conversation & Film Screening with Alice Hope

September 13 @ 06:00 PM - September 13 @ 08:00 PM
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  • LVIS thrift shops are open Tuesdays through Saturdays 10 AM through 5 PM

donations are accepted Wednesday through Saturday 10 AM through 1 PM by appointment 

located at 95 Main St East Hampton
  • Check out the Top Hamptons Events This Weekend!⁠
⁠
🚗 The Bridge IX⁠
📅 Sat, Sept 13 | 2–7PM⁠
📍 The Bridge, Bridgehampton⁠
Over 300 rare automobiles showcased across stunning landscapes.⁠
⁠
🎬 23rd Annual Surf Movie Night⁠
📅 Fri, Sept 12 | 5:30–9PM⁠
📍 Southampton Arts Center⁠
Surfboard swap, live music & outdoor film screening. 🌊⁠
⁠
🍝 San Gennaro Feast of the Hamptons⁠
📅 Sat, Sept 13 – Sun, Sept 14 | 10AM⁠
📍 Hampton Bays⁠
Italian pastries, live entertainment & fireworks Sat @ 8:15PM 🎆⁠
⁠
🎭 In Process: Roderick George⁠
📅 Sat, Sept 13 | 7PM⁠
📍 Guild Hall, East Hampton⁠
A special in-process presentation of The Missing Fruit (Part I).⁠
⁠
🎤 Sheena Easton at WHBPAC⁠
📅 Sat, Sept 13 | 8PM⁠
📍 Westhampton Beach PAC⁠
Grammy-winning artist live on stage!⁠
⁠
☕ Cars & Coffee⁠
📅 Sun, Sept 14 | 9–11AM⁠
📍 Bridgehampton Museum⁠
Classic & exotic cars, food, drinks & live music.⁠
⁠
🛍 Hampton Vintage⁠
📅 Sun, Sept 14 | 10AM–5PM⁠
📍 Westhampton Beach Village Green⁠
Shop unique vintage finds!⁠
⁠
🎶 Hamptons Festival of Music Finale⁠
📅 Sun, Sept 14 | 4PM⁠
📍 St. Luke’s Church, East Hampton⁠
Featuring Cimarosa, Berlioz & Beethoven.⁠
⁠
🍷 Wine Dinner with Pradorey at R.AIRE⁠
📅 Tues, Sept 16 | 6:30PM⁠
📍 Hampton Bays⁠
Five-course tasting menu with exquisite wine pairings.⁠
⁠
🎥 Toy Story 30th Anniversary Screening⁠
📅 Sept 12–15 | Various Times⁠
📍 Southampton Playhouse⁠
Celebrate Woody & Buzz’s timeless adventure!⁠
⁠
Check out more events at Hamptons.com (Link in Bio)⁠
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#carshow #hamptons #sangennaro #sangennarofeast #winedinner #bridgeIX
  • The Animal Rescue Fund of the Hamptons (ARF Hamptons) hosted the Bow Wow Meow Ball in East Hampton. The evening’s honorees, Ellen and Chuck Scarborough, were presented with the Champion of Animals Award, recognizing their more than twenty-five years of support to ARF. ⁠
⁠
Over 400 guests celebrated ARF’s remarkable work with cocktails, followed by dinner catered by Olivier Cheng. Peter Marino, accompanied by his daughter and ARF Board Member Isabelle Trapnell Marino, presented the Scarboroughs with their award. ⁠
⁠
📸: Patrick McMullan/PMC⁠
⁠
Check out the full gallery at Hamptons.com (Link in Bio)⁠
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#arf #bowwowmeowball #hamptons #animalrescuefund #animalrescue
  • Make sure to add this event to your list for next summer
#Seafood #localeats #mtk #montaukgreen
  • I recently toured the new Rolex Boutique by London Jewelers in East Hampton, and it’s one of the most beautiful retail spaces I’ve ever stepped into. Located on Newtown Lane, the boutique is set inside a restored historic home that dates back to 1897, originally designed as a summer cottage.⁠
⁠
From the outside, it has that classic East Hampton charm, cedar shingles, white trim, and lush landscaping. But once you step inside, it’s all about quiet sophistication.⁠
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The space is warm and welcoming, with walnut wood paneling, soft neutral tones, and beautiful textures throughout. There’s a fluted marble wall in a rich green Verdi Alpi stone that immediately catches your eye. It’s one of those details that’s understated but unmistakably Rolex.⁠
⁠
Read the full article at Hamptons.com (Link in Bio)⁠
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#rolex #easthampton #hamptons #luxury #watch⁠
  • 🎾 Men’s US Open Final Viewing Party⁠
📅 Sun, Sept 7 • 2–5PM⁠
📍 Canoe Place Inn, Hampton Bays⁠
Watch the riveting Men’s US Open Final with drinks, grilled classics & fellow tennis fanatics in the lush garden.⁠
⁠
🦞 Montauk Seafood Festival⁠
📅 Sat, Sept 6 – Sun, Sept 7 • 12–5PM⁠
📍 On the Green, Montauk⁠
The ultimate seafood event in the Hamptons! Lobster rolls, fish tacos, chowder, oysters & more 🐚🍤⁠
⁠
🩰 Master Class w/ Kat Wildish⁠
📅 Sat, Sept 6⁠
📍 Hamptons Ballet Theatre School, Bridgehampton⁠
Open-level adult ballet class with world-renowned former NYCB & ABT dancer Kat Wildish. One day only!⁠
⁠
🎶 Hamptons Festival of Music⁠
📅 Sat, Sept 6 • 7PM⁠
📍 St. Luke’s Episcopal Church, East Hampton⁠
THFM’s MainStage Festival Orchestra featuring The New American Sinfonietta 🎻✨⁠
⁠
🌾 Outstanding in the Field (Sagaponack)⁠
📅 Sun, Sept 7 • 3PM⁠
Dine where the food is grown! Guest chef Jason Weiner returns for his 19th year 🍽️🌱⁠
⁠
😂 Samantha Bee Live⁠
📅 Sat, Sept 6 • 8PM⁠
📍 WHBPAC, Westhampton Beach⁠
Award-winning comedian Samantha Bee brings her one-woman show to the Hamptons!⁠
⁠
🍴 Stirring The Pot: Andrew Carmellini⁠
📅 Sun, Sept 7 • 11AM⁠
📍 Guild Hall, East Hampton⁠
NYT’s Florence Fabricant interviews star chef Andrew Carmellini about his restaurant empire.⁠
⁠
🌕 Full Harvest Moon Hike⁠
📅 Sun, Sept 7 • 7:30PM⁠
📍 Meet at SOFO Museum, Bridgehampton/Sag Harbor Tpke⁠
Walk under the moonlight with Friends of the Long Pond Greenbelt 🌙✨⁠
⁠
🎨 Style Beading Workshop⁠
📅 Fri, Sept 5 • 1PM⁠
📍 Nathaniel Rogers House, Bridgehampton⁠
Join Indigenous artist Savannah LeCornu to learn traditional beading techniques.⁠
⁠
⛳ A Legendary Day at Sebonack!⁠
📅 Tues, Sept 9 • 8:30AM–5PM⁠
📍 Sebonack Golf Club, Southampton⁠
An unforgettable day of golf supporting Westhampton Beach PAC 🌟⁠
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👉 Which event are you going to this weekend?⁠
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Check out more events at Hamptons.com (Link in Bio)⁠
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#community #entertainment #hamptons #usopen #golf #comedy #seafood #montauk
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