Downsizing into a Smaller Home - Saratoga, NY
It is not unusual to think of downsizing your home today for having a smaller mortgage payment can have great appeal. However that is not the only reason to consider downsizing your home today.
Top Reasons to Downsize Your Home
1. Increase your Cash Flow - You will spend less per month on your mortgage payment
2. Fewer Spaces to Clean and Maintain - gives you more time.
3. Lower's Your Utility Bills. Typically when downsizing your home it costs less to heat/air condition smaller homes.
4. Reduce in Consumption- By downsizing your home there is no place to put it you are less likely to buy it.
5. Minimize Your Stress Level - Smaller workload, less responsibility, lower mortgage payment, etc.
Downsizing Your H
ome Tips
Michael Ivankovich, author of the book "Home Downsizing in Four Easy Steps," outlines four easy steps to downsizing your home. He came up with the concept of "AVID Home Downsizing System."
Each of the four steps from the acronym AVID builds upon the previous step to help you through downsizing your home.
A - Analyze - Analyze your individual needs.
V - Value - Value your personal assets
I - Investigate - Look into your selling and dispositions options
D - Dispose - Get rid of all unwanted items.
The purchase and selling of your home is a big decision. Don't be afraid to ask for advice and help when downsizing your home because a mistake could be devastating. Before you search for a new home, prepare a checklist of what you are looking for in a new home. Be clear of your needs.When selling your home settle on a realistic asking price. This could make a difference with a quick sale or staying on the market for months. The same holds true with your personal assets. If you sell them too high they will rarely sell or sell slowly.
For more information on buying or selling a home contact a Saratoga, NY Real Estate Agent.
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