We “Right Sized” our Life!
When we bought our home in Kelowna just over two years ago, we thought we had found our ‘forever’ home as it was just the Right Size for us, central to everything, walking distance to my husband’s work & Jujitsu club and minutes to my Remax office.
Although our home had been lovingly cared for, we wanted to make it our own and update it in some areas so we rolled up our sleeves and began one of our favourite hobbies: renovations!
We loved our house, the new renovations, the neighbourhood and even the neighbours:) ~ we thought we were set for life!
Then the city introduced and implemented the exciting new Infill Challenge which resulted in our neighbourhood becoming an RU7 zone.
Through days and hours of conversing, dreaming, meeting with planners, financial people, talking with many neighbors about the pros and cons of moving, staying, cashing out, etc. my husband and I realized we had 3 choices before us.
1.Just continue on with life, enjoy our home and our Right Sized situation
2.Build a secondary building in the backyard and ‘sit’ on our investment
(Even more options: We could Rent it out or Sell it off)
3.Cash out while there’s so much excitement around this new initiative
(especially knowing there are only about 750 homes in the City with this new Zoning!)
We realized that given our age and situation, (plus we recognized we personally prefer renovating over building), the increase in our investment was just too unbelievable to ignore so we took Option #3. Long story short, we listed our home at what we thought was an unbelievable price and had a subject free, accepted offer in 7 days.
It’s been a whirlwind of activity and excitement for us personally but also as a Realtor in helping neighbours and friends try to determine the best decision for their individual situations. For some, it just doesn’t make any sense to move and for others, they are now going through what we just experienced. Right Sizing isn’t just about the “right size” of a house but it’s all tied into Right Sizing your life with all its complexities and changes.
All the best in your decision! -Either way, the Okanagan is such an amazing place to live, technically we have all won the Housing Lottery!