y parents' generation may have coined the phrase “you’ll have to carry me out of this house in a box." This was a generation that was proud to be homeowners - they didn’t move around like we do today. The general sentiment in the ’50s was to buy a house and live there until you die - not a bad plan if you ask me.
Today, home ownership is viewed as much as an investment as it is a privilege, as the cost of housing is at an all-time high. Modern buyers tend to buy the minimum amount of space they need, expecting to move with each major life event: getting married, having a baby, etc.
For my generation (born in the ’70s), saying goodbye to the house we grew up in is coming up more and more as our parents age. Some of our parents are looking forward to this time of anticipated freedom; to finally give up the big family home, to spend more time travelling, or simply less time doing yard work. Some still have every intention of “being carried out in a box”. There's no right or wrong answer – this is a highly personal decision.
Many children of ageing parents feel they should be included in the decision to sell the family home, and you're probably just as connected to the house that you grew up in as the actual legal owners (your parents). But sometimes, one must come to terms with the fact that letting it go might not be a decision you have any control over.
We are also starting to see an emerging trend of children who choose to keep the family home, especially in single-child families. The cost of housing has spurred an economic need similar to what we have seen in other countries for centuries; land owners pass down the family estate from generation to generation.
If it's time to talk downsizing, give us a call. We have the experience you can trust when it comes to such a big decision.