Here are five signals that show you might be ready to downsize.
Are you ready to downsize? Here are five signals that you might be:
1. You’re nearing retirement. I find that many people in our area start thinking about downsizing as they approach retirement age. Downsizing might allow you to move to a different area and be closer to your children or other family members.
2. You’re unable to maintain it. For example, that big, beautiful backyard you had for your family growing up might now be a burden to maintain. Even if you pay to have your yard serviced, the cost may no longer be worth it because the backyard is unusable for you.
3. You have too much unused space. The large home you raised your family in may carry a lot of memories and emotions for you, but it also comes with big utility costs and perhaps even a property tax burden.
“Your home may simply be too large for you.”
4. You are unable/unwilling to maintain home renovations. Especially in a home you’ve lived in for many years, you need to consider whether it’s better to do those upgrades or simply sell the home.
5. Your mortgage has ended or is nearly ended. Many people who live in larger homes that younger families would like to take over are looking at large pools of equity. Is it time to take your cash and do other things with it, or is it time to get into a smaller, more easily maintained home?
Click here to schedule a free consultation to find out what your home is worth. Otherwise, if you have any questions, feel free to give me a call or send an email. I’d love to help you with your next move.
