Are you ready for a change? Do you have rooms in your home you don’t use? Are the maintenance bills piling up? If you answered yes to any of these questions, it might be time to consider the advantages of downsizing your home.
According to the balance, 6% of baby boomers, 18% of Gen Xers, and 19% of millennials said they downsized because their previous homes were too difficult to maintain. Sellers in Arizona tell us they are tired of high summer utility bills and pool maintenance that skyrockets their household bills for half the year. Still others, like Mickie and I, are empty nesters with too much space for what we need. Whatever your personal situation, consider these reasons to sell a larger home and buy a smaller one.
Advantages of Downsizing Your Home
- Less stuff, more time. When downsizing your home, we recommend going through each room and clearing the clutter. Make piles of recycling, throw away, give away, and keep. Each item needs to be in a pile. Keep in mind the ideal space for your new home and take only what you need. With less stuff, you will have more time to focus on spending time with loved ones, traveling, and enjoying life without the worry of needing to organize and clean a larger home.
- Reduced mortgage payments. Sell your home for market or even above market value and buy a smaller home for less money and enjoy reduced mortgage payments. This will give you more disposable income.
- Lower utility costs. Are you spending money running your air conditioner and a pool all summer long? An advantage of downsizing is that you can buy in a neighborhood that has a community pool and reduce your utility costs. You will also save because you’re cooling a smaller home.
- Reduced maintenance costs. If you’re tired of paying for pool and yard maintenance, it might be time to downsize to a condo to reduce these costs.
- Get exactly what you need. If you have guest rooms or other space in your current home going unused, it may be time to think about downsizing your home. Think about your current lifestyle. If you’re like a lot of us, Mickie and I included, you may find that the kids have gone on their own and you’re left with a big house to clean and unused rooms. Take time to figure out what you need – an owner’s suite, a guest room, and an office may be it, in which case, let’s sell your big house and get you into something that is more practical for this time in your life.
While one or two of these may not be advantages of downsizing your home, combined they make a good case for moving to a smaller space. Take time to think about what is most important in terms of your home. If you’re ready to downsize, whatever the reason, give Newman Realty a call at 480-500-9888.