When is it The Right Time to Downsize Your Home?
Traditionally most average homeowners start out small and end up small, sometimes increasing the size of their homes in between. Commonly the decision to buy a larger house is motivated by a growing family, though increased wealth and growing acquisitions are also common factors.
Additionally, there is a growing body of people that has decided smaller is better.
It you’ve followed the traditional route and bought the biggest and best home you can afford, why would you want to downsize your home? Once you have established the advantages of downsizing, you can decide whether this is what you want to do, and when it is time for you to downsize your home.
Popular Reasons to Downsize Your Home
While a smaller home will inevitably result in fewer belongings, and may lead to space restrictions, there are a number of good advantages that you should consider if you have an inkling that it’s a good time to downsize your home.
- It’s very likely going to cost you less money on your mortgage payments
- It will definitely save on time in terms of cleaning and general maintenance.
- Your utility bills will be lower because it costs less to heat or cool smaller spaces.
- You are less likely to buy new items quite simply because there’s no space for them; this results in reduced spending.
- Overall if you downsize your home the demands of a smaller house will be less, which minimizes the stress factor.
If you have been considering downsizing or perhaps want to know how much your home is worth in todays market, please call me and lets have a chat about the pro's and con's of downsizing and the cost involved for your lifestyle change.
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