Have your kids moved out of the house for college, or to finally be out on their own? Is your house feeling a little too big after retirement? Is there more lawn maintenance and upkeep than you have time for? Lots of homeowners have been downsizing, but it is a difficult decision to make. When you get to that point in your life, consider these advantages to downsizing.
- More money in your pocket. With larger houses, you’re more than likely paying a larger mortgage and utility and maintenance bills to keep the home in tip top shape. If you move to a smaller home or condo, you’ll have more money for retirement, travel or whatever is most important to you.
- Less upkeep and greater efficiency. With a smaller space, there will be lower energy costs by keeping your home heated for less. Larger homes can take more energy to clean too, and having a big yard or garden also requires a lot of time and energy. By downsizing, you’ll save time and money.
- New location. If you’ve dreamed of living in a particular neighborhood or city, now is the time to consider it! Your housing dollar will go farther if you are looking for a smaller place, so you might be able to upgrade and downsize at the same time.
- Fitting your lifestyle. Smaller homes can accommodate lifestyles for those that no longer have children in the house. You may not need extra bedrooms to take care of, so try finding a smaller space that allows you to use the rooms that you need for your lifestyle, and go from there. Some think that switching house sizes can detract from your lifestyle, but it can actually benefit you.
- More time on your hands. Without as many things to clean or to take care of, you’ll have more time for yourself. Spend some time with loved ones, take up a new hobby, travel – the possibilities are endless.
Not sure where to begin? Contact an experienced REALTOR® to discuss your desire to downsize. She can help you prepare your home for sale while you begin looking for your next one!