Is it time to downsize from your current home into something smaller? You might be averse to downsizing because, let’s face it, moving is no fun. But downsizing could turn out to be a great decision if you are able to move into a living environment that better suits your current needs.
It’s Just Too Much
Whether you’re talking about the yard, the house, the mortgage payment or property taxes, feeling overwhelmed with your current living conditions might be a sign that downsizing could relieve some of the stress in your life. If your kids are out of the house, maintaining a yard that can accommodate pass patterns or fly balls might be adding unnecessary stress to your life.
When you enter retirement and the money stops coming in, your mortgage payment and property taxes will suddenly seem and feel a lot more burdensome. If you’re living on a fixed income, downsizing can make your money go farther.
Space is Unused
Trying to fill up unused space with exercise equipment, a workshop or crafts you’ll never get around to making might be a sign that you’re ready to downsize. And if you have too much stuff, it might be a sign that you have too much room.
If, along with millions of other Americans, you’re now labeled an empty nester, it might be the perfect time to downsize. While the home in which you raised your children holds years of great memories, they’re just that—memories. If you choose to downsize, those memories will move with you.
Too Far from Family
If your children are starting their own families in other cities, you might decide that picking up and moving closer to your grandchildren is your next step. Downsizing in a new city will save you money that you could be spending on the grandkids.
If you’ve lost a job due to corporate downsizing or if another circumstance has limited your earning potential, downsizing will help stretch your resources a lot further.
The Market’s Right
If you’re not quite ready to pull the trigger on downsizing, you might want to check the current housing market; it could help make the decision much easier. If your house has appreciated to a level that’s as good as or better than you’d anticipated, it might be the perfect time to downsize. There’s no guarantee future housing markets will bear the same profits they do today.
If you’re asking yourself “Is it time to downsize?” the licensed experts at SellMyHomeToday.com would love to hear from you. They’ll be happy to address concerns and questions you have if you’re trying to determine if it’s the right time to downsize. To set up an appointment, contact us today.