Downsizing is when you’re moving into a smaller home. When is it time to downsize? Here are a few reasons when it might be the right time to downsize.
Finances and Expenses -Downsizing can reduce expenses. You don’t want to be under pressure to sell your property or dipping into your savings to pay your home expenses each month. A reverse mortgage is not always the best decision either. You shouldn’t have to worry each month about where money coming from for a house payment. Stressing over money can compromise your mental, emotional, and physical health. It is better to find a home you can afford to comfortably maintain. This will give you funds for other expenses, travel, and fun.
Cash in your Investment-When you purchased your home, you probably paid less than it is worth now. Interest rates are low and buyers are looking for homes. Downsizing in today’s market is a great time to receive the best return on your investment. I can do a competitive market analysis for FREE, so you know what our property may sell for in this market.
Joy Elizabeth- recommends-PWO Realtor that Cares
Phoebe is the best Realtor to work with! I needed a house quickly and she worked so hard to find me what I needed in a timely fashion. She went out of her way many times to ensure that I found the right home and that I was happy. If you are moving, I definitely strongly recommend Phoebe truly cares and meets your needs!
Maintenance-Home maintenance is never-ending, whether you do it yourself or pay someone else. Fixing broken roof shingles, maintaining landscaping, keeping the property neat and tidy all takes work and time.
Time-Downsizing to a smaller home closer to your family or purchasing a Multi-Generational home also means you’ll have more time to play with your grandchildren, spending hours stuck in traffic, get closer to shopping centers, entertainment, family, and friends.
Getting Around-It’s important to look ahead and consider mobility issues such as climbing the stairs and managing yard work. A one-story home or elevator condo may be more appropriate for physical mobility now and/or in the years to come.
Use it or Lose it-Bigger is not always better. When was the last time you used all the bedrooms or bathrooms in the house? Unused rooms are not just unused space, they also cost money. More property taxes, heating, cooling, unnecessary electricity, gas, or oil. Rooms still need to be cleaned, or they’ve become storage space for items you’re not using anymore.
Common reasons for downsizing include:
· becoming empty nesters
· wanting a lower-cost mortgage
· less maintenance
· fewer expenses
· needing a new floor plan
· freeing up time and money
· reduced property taxes and home insurance cost
· smaller mortgage payment (or no mortgage payment at all).
Downsizing does not have to be a stressful time. It is the start of a new season in your life. The process can be emotionally, but rewarding. You have worked hard and deserve to enjoy your time now.
I specialize in helping you get real estate for a new season of living, downsizing, Multi-Generational homes, and Aging in Place.
Receive FREE guides click here:
Downsizing Packet ..... Multi-Generational Living Packet…
Aging in Place Packet ….. Reverse Mortgage Sheet….
Legal for Elder’s Sheet….
Click on the links below if you would like more information on:
Multi-Generational Living Downsizing
Selling or Buying a Home Again in Place
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