The Upside to Downsizing
10 reasons why it makes sense
- Cheaper to maintain. A new friend I met at the gym described it best. “I work to write checks to pay for house services.” Granted, if you scale down in size not all of those services will likely go away. However, each cost should be cut proportionately: half the yard, half the square footage to clean, half the electricity, half the gas/oil……
- Reduction in property taxes. As we know, taxes never go away. But if you only need half the space you currently have, why pay the town on a yearly basis for all that square footage that you are not using?
- More Manageable Living. This is especially true if you down-size to a condominium or PUD (Planned Urban Development). Exterior maintenance is typically the association's responsibility, including plowing, landscaping, roofing, etc. Usually, your responsibility is strictly the interior of your unit. This situation is probably the most turnkey living you will have.
- Enjoy more Travel and Personal Recreation. With less to address on a daily/weekly basis, as well as the cost savings, you can now enjoy more free time and extra savings.
- Relief for your family and friends. If it takes a village to maintain your current home, with family and friends always checking-in or coming to help with maintenance and chores, it is probably time to downsize and give them a break as well.
- Good for your health. Less to worry about equals less stress. No doubt there will be some stress as you prepare to make this change. However, in the long run, the stress is short-lived and lasting peace will prevail.
- Live your dream. It is not just about scaling down. A downsizing change could also mean that you can choose to live in a new town or state. Perhaps it is that seaside or golf community you always dreamed of. Perhaps it’s year-round mild weather. Either way, you get to pick the next chapter of your life.
- Purge the excess. You will feel lighter and less encumbered. Attics, basements and garages are often where we toss and ignore. Downsizing forces your hand to decide what is most important to take with you and what should be relinquished.
- Live in the moment. Recognize that life is continually evolving. Where you were 15 or 30 years ago is likely very different than where you are today. Downsizing is an opportunity to match your home with your current lifestyle.
- Explore new things and meet new people. This doesn’t mean you toss away old friends or activities. It just means that where you move to, will offer an exciting opportunity to try new things and meet new people.
Life is about change. Be brave.
Thinking of Downsizing? Reach out to me: email@example.com.
Nancy Manby is a realtor with Keller Williams Realty servicing lower Fairfield County Connecticut. She has worked with hundreds of buyers and sellers over the last 24 years, and continaully remains in the top 5% of agents in the country. She can be reached at firstname.lastname@example.org.