In the United States, it’s rare that we discuss downsizing as an attractive option. Most of the time, we talk about trading up rather than trading down, but downsizing is becoming an increasingly popular option among a wide range of people – not just retirees.
Perhaps surviving the recent recession taught us all a valuable lesson: less can certainly be more.
So, are you considering downsizing from your larger home to something a bit smaller and cozier?
Downsizing your home and your life is a big step.
Here are five signs that might mean it’s time to downsize.
Your Home is Too Big
Bigger is not always better. At some point, more rooms just become more empty rooms. Have you passed the point where you need a four-bedroom, four-bath home? Have all your children moved away and started lives of their own? Are there rooms in your home you have not visited in months? If you feel your home is just too big, it might be time to downsize to a smaller, more manageable home.
Maintaining Your Home has become a Chore
If you find yourself spending an entire weekend cleaning your house from top to bottom or all Sunday maintaining a massive yard and pool that you rarely use, it might be time to downsize. If you don’t use something, why spend all that time, money and energy maintaining it? You might be better off with something that is easier for you to maintain. Condos are a great option as all external maintenance – including the pool – is covered under your HOA fees.
The Financial Burden is Too Great
Have you recently retired or had a reduction in income? Maybe you have new expenses such as medical bills that are putting a strain on your finances. Maybe you’re just tired of paying that massive house note and power bill each month. Financial situations change over time. Whatever your reason, no one should have to struggle just to make a house payment and keep the lights on. Downsizing will certainly reduce your financial burden.
You Want to Move Closer to Family
Downsizing to a smaller home or condo can make moving to a new area of the country in order to be closer to your children and grandchildren much easier. There is an abundance of small homes in nearly every city in America; the same cannot be said for larger, more luxurious homes.
You Can Realize a Large Profit from the Sale of Your Home
Buying a home is often touted as a safe investment. Now might be the time to cash in. If you have owned your home for 15 or more years, you might be shocked to realize the return your modest investment has yielded. Several homes that were purchased for $75,000 in the 1980s can sell in the $400,000s today.
Downsizing from a larger home to a smaller home or condo can be a remarkably freeing experience. Once you divest yourself of a large portion of your possessions and move to a smaller, more manageable home, you may be surprised at how much easier life is. Contact me today for a consultation. I will be happy to answer any questions you may have, and/or help you find your dream home.
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