6 Signs It Could Be Time to Downsize

Could Downsizing Be Right for you?

Are you on the fence about downsizing your home because you’re not sure it’s the right option for you? I understand how you feel, There are so many benefits to home ownership, but, there can come a time when it just makes sense to downsize and simplify. But how do you know you’re ready?

In this video I’ll cover

6 Signs It Could Be Time to Downsize Your Home

Number 1 – Too much space. When your house was full of people, it made all the sense in the world to have that 2 story home with 4 or 5 bedrooms. Your family used just about every inch of that space! But now, if your nest is empty, you probably cannot remember the last time anyone slept in those beds… In fact, the only time you’ve been in those spaces in the last year was to dust and vacuum! Do you really need to keep all of that space clean, heated, cooled, and maintained?

Which brings us to…. Number 2 – Too much maintenance. How much time did you spend last weekend mowing, trimming, raking, or cleaning? How much money did you spend in the last year in paint, repairs, electric bills, taxes?? What if you had a weekend that was completely free to do as you please? And what would you do with that $20,000 if you hadn’t needed to spend it on a new roof?

Number 3 – Time & Energy: This is a big one. When you bought your home, you may have had loads of energy to run up and down stairs, clean gutters, and do your household chores regularly. But, as the years have gone on, is it starting to take its toll and sometimes becomes completely exhausting? If you dread the chores of maintaining a big house, Downsizing can mean that you’ve got the time and energy to do the things you enjoy rather than struggling with housework. Like travel, hobbies or family adventures…do you have a bucket list?

Number 4 – Lifestyle and health changes. In addition, you may be thinking about your future and your desire to not have stairs in your home. Would a one level or master-on-main home suit you better for a longer period of time?

Number 5 – Financial goals. If you’re near retirement you may want to save money to prepare – or if you’ve already retired, you may be looking at ways to stretch your retirement dollars and reduce your annual expenses. A smaller, less expensive property can help you do that by lowering utilities, property taxes, insurance, and mortgage costs.

Number 6 – Profit and Equity. Speaking of mortgage costs, when was the last time you checked on your current home value? You may be sitting on a gold mine in your current home, depending on how long you’ve been there. If you’ve been in your home for several years, chances are you’ve got quite a bit of equity built up. You may be able to purchase your next home without a mortgage! Or you may even decide to cash out and travel around the world – the possibilities are only limited by your imagination!

That’s a lot to think about, I know.
The point is that, if you recognize yourself in any of these, it may be time to entertain the idea of downsizing. Many Homeowners are realizing that “living large” doesn’t always mean bigger is better. Give me a call if you would like to discuss downsizing options in more detail or if you have any other real estate related questions. I would be more than happy to talk with you.