4 Questions to consider before you downsize or move
There is a time in everyone’s life when you ask, do I want to retire in this house? Often the thought to live a simpler life would be highly welcomed. A low-maintenance life-style with less yard work is something that may be a real hot button for some. These are jsut some reasons to downsize.
Grown up children leaving the nest results with a house that is way too big to fill up! Once the adult
children move away and have babies, parents may want to move closer to them and their grandkids. Spending the precious time now while they are young is important to many and the reason to move is more of location and not just downsizing.
Sometimes, reasons to move are not a choice but a necessity. Life events like a divorce, illness, unemployment, finances or a loss of a spouse or partner may force you to find something more affordable. Walking up the stairs may not be an option anymore which forces them to find a single story home.
Time to play! Maybe for you it is just simplifying in order to do the things you don’t have time for now. How about traveling or taking up a sport or hobby? The time is may be now!
Whatever the reasons to downsize, there are many questions to ask yourself before you move.
1. Less storage space or do I have too much stuff? Moving into a smaller place will force you to downsize your positions. Ask yourself, what am I willing to give up? Most of the time we accumulate too many personal items while we occupy a home for many years. Downsizing forces us to prioritize what is really important to keep and take with us. Less stuff means for less distractions and a simpler lifestyle.
2. Will I feel Claustrophobic? Downsizing into a smaller home, will it make me feel closed in? One way to alleviate that feeling is to choose a home that has taller ceilings. Having a great room or cathedral ceilings will make you feel that you have more space to breathe.
3. Will I miss all the work? Doing less property maintenance is a positive aspect to downsizing.
Tired of cleaning the pool or mowing the yard, downsizing means for more free time to spend in other areas.
4. The cost of downsizing? It is apparent that a smaller home usually means a smaller house payment. But consider this as well:
Furniture? Will my furniture over whelm the smaller space? Large pieces will take over the rooms. Sometimes just leaving some pieces out will do the trick, but some furniture just won’t work. You can consign your furniture and make some money from the things you will not use and buy other furniture to replace them. Consider the costs to do this.
How much will I keep after selling my current home? Consider the closing costs to sell and figure out how much you want to spend on your new home. Then consider the savings living in the smaller home over the time you plan to live in the home.
· Less mortgage payment every month
· Smaller utility bills
· Less property taxes
· Less maintenance and upkeep
These savings can be significant on a fixed budget.
Finding the right home can be tough. It is always best to work with a Realtor who can best represent you when you are looking for a property. You want someone who can represent you and point out the up and downsides to any particular property. They will have your best interests at heart. If you don’t know anyone, call us and we can refer someone in your area that has a proven track record.
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