We have downsizing, upsizing, lateral moves, big moves, even moves to tiny houses. A growing trend is what I call “split sizing”—owners of larger homes that have helped to raise families are selling one property and buying two, securing a place here and a place there. Some are choosing to go with seasonal homes, while others are picking a mountain home with a view and a beachy retreat. Others still are opting to have a city home with another property in a more remote location, and some have even ventured outside the U.S. borders for a European getaway. Whatever the split, it’s a win-win. Most jobs are allowing for flexibility in the work location, scheduling, or even telecommuting. And it’s possible for us to get pretty much anywhere, with a few exceptions. Friends and family are sure to love the change in scenery. Some owners find they have to coordinate schedules to accommodate the many friends and family who want to visit!
A challenge for our retirees is to find a place that’s just the right size. They are looking for a space that’s large enough to accommodate their children and grandchildren, yet small enough to manage physically and financially. That’s where split sizing works well—it allows you to focus on the economic factors and enjoy the options you want. The 2-3 split is popular, with many finding the perfect 2 to 3 bedroom place in both locations, whether its Chicago and the Great Northwest, the Carolinas and warm Southwest, or Maine and the Florida beaches.
The rise in split sizing and second home market is fueled by two very practical forces: increased equity and the lowest mortgage rates in documented history. It helps that the larger home did the heavy lifting while raising the family, increasing in value to help make the dream of split sizing a reality.
The common theme in all is to have two homes—both about the same size. Not too big, not too small, but split sized perfectly for a just right feel.