If you’re thinking about selling your home and moving into something smaller, you’re not alone! While downsizing was once a trend that was most popular among retirees, people of all ages are now making this smart move.
There are many reasons why downsizing is a good idea. Here are a few of the most important benefits.
- It’s a Simpler Lifestyle
Selling your home and moving into something smaller requires you to re-evaluate all of the “stuff” you’ve collected. Many people find that decluttering and adopting a simpler lifestyle is therapeutic and very freeing. - You’ll Save Money
There are multiple ways that downsizing will save you money. The most obvious is freeing up the equity that you’ve built up in your current home. In almost all cases, selling your home and buying a less expensive one means that you can enjoy a smaller (or no!) mortgage payment, lower homeowner’s insurance premiums, and lower maintenance costs.You can grow this money exponentially by using what you’ve saved to pay off debt or bulk up your retirement savings.
- You’ll Have More Time
Selling your home and downsizing can also give you the gift of time. When you have a smaller home, you’ll spend less time cleaning and tidying up, doing regular maintenance, taking care of the lawn, and more.If you want to get excited about selling your home, just think about all the great things you could do with that extra time!
- You Can Live More Luxuriously
The word “downsizing” is somewhat misleading. Selling your home to buy a smaller one also doesn’t have to feel like a downgrade! Have you always dreamed of luxury upgrades like marble countertops, hardwood floors, or a home full of smart technology?When you have a smaller home and a lower mortgage payment, you’ll be able to spend some of that extra money on making it exactly the way you want it. With fewer rooms to deal with and a larger budget to spend on decor, you’ll have far more flexibility than you did before.
- You May Have More Choices
When you’re open to selling your home and buying something smaller, you’ll find that you have many more location options. Moving away from the suburbs and into a more centrally located home gives you exciting new opportunities. For example, many homeowners find that they really enjoy being able to walk to the neighborhood grocery store or run other errands.Being willing to move into a smaller home may also give you the opportunity to move to neighborhoods that were previously out of your price range.
- You Can Focus on Family
When you live in a big home where everyone is spread out, you can start to feel a bit disconnected from the other people who live there. In a smaller home, you can focus on making your kitchen and living room more of a social space where everyone can come together and enjoy each other’s company.
If you’re someone who loves to entertain and have parties, then selling your home to buy one with fewer rooms might not be the best idea. However, if you only have gatherings on certain holidays or not at all, then this is definitely something to consider!
Many people are finding that their dream home is actually much smaller than they thought! If you’re open to downsizing, there’s no time like the present to start thinking about selling your home and exploring new options.
THINKING ABOUT BUYING OR SELLING A HOME? I can help make the process easy, get in touch today!
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CBR, SRES - Licensed Real Estate Salesperson
Phone: 516.849.5895 | [email protected]
As an experienced professional Neil will do the leg work, keeping you up-to-date with new listings and the various market conditions that may impact the home purchase process. Sellers can also benefit from his skills in finance, negotiation, contractual agreements, and RE marketing. Call today and allow Neil to guide you through the complexities of buying or selling your home, eliminating hassles, and stress.
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National Association of Realtors
Long Island Board of Realtors
Multiple listing service of long Island
New York State Association of Realtors