FIVE SIGNS IT IS TIME TO DOWNSIZE YOUR HOME

Has the American Dream of Owning Your Home turned into sleepless nights? Or, even worse, a nightmare? There are so many benefits to owning your own home; however, at some point, there can come a time when you need to downsize. But how do you know you’re ready? I an here to tell you about 5 Signs that it’s time to downsize your home!

#1 Too much space.  

When the kids were growing up, it made all the sense in the world to have that two-story home with four bedrooms, a family room, and more. Your family used just about every inch of that space! But now, they’re grown, and you cannot remember the last time when anyone slept in their beds. The only time you’ve been in those spaces the previous year was to dust and vacuum! Do you need to keep that space clean, heated, cooled, and maintained?  Which brings us to….

 # 2 Too much maintenance

How much time did you spend on the weekend vacuuming, dusting, or cleaning? Or perhaps outside chores, like mowing and trimming. How much money did you spend last year on paint, repairs, electric bills, taxes?? What if you had a completely free weekend to do as you please? What would you do with that $20,000 if you didn’t need to spend it on a new roof?

#3 Lifestyle and health changes. 

This is a big one. When you bought your home, you had loads of energy to bound up and down stairs, climb ladders to clean gutters, and do your household chores regularly. But, as the years have passed, that’s starting to take its toll, and it is sometimes completely exhausting! Downsizing can mean you have the time and energy to do the things you enjoy rather than struggling with housework.

# 4 Financial struggles. 

If you’re near retirement or 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 property taxes, insurance, and mortgage costs.

# 5 Profit and Equity. 

Speaking of mortgage costs, when was the last time you checked on your current home value? Depending on how long you've been there, you may sit on a gold mine in your current home. If you’ve been in your home for several years, you’ve likely built up quite a bit of equity. You may be able to purchase your next home without a mortgage! Or you may even decide to travel around the world - the possibilities are only limited by your imagination! That’s a lot to think about, I know. If you recognize yourself in any of these situations, it may be an excellent time to consider downsizing and explore your options. Give me a call, and we can talk about this. Also, we keep many resources on hand for our many clients, and I am happy to share them with you.