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When to Downsize your Home

by | Sep 3, 2023

Your home is a representation of your life, and there are times when your life requires less space than it once did. There are certain periods when downsizing your home is appropriate.  If you are facing one of these life-changing times, it may be time to downsize your home.

When to Leave the Excess Behind and Pull Out the Moving Boxes

When you have Financial Strain

One of the major reasons people downsize their homes is financial strain.  If you feel that, without your current monthly home payments, you could create a more comfortable life and plan for the future, you may have incentive to downsize.  Factor in the cost of your move, and see if after that cost, downsizing will still save you money.  The assumed longevity of your financial problems is also a major factor.  If you are going through short-term strains, there may be alternatives to downsizing.

Empty Nest

When your children leave the household, downsizing is a major consideration.  With fewer people in the home, there is less space needed.  You can now live a more financially efficient lifestyle.  Many people downsize with the intention of traveling more.  Selling their existing home gives them the freedom from excessive maintenance they need to hit the road.

Retirement

Downsizing is an excellent move for retirees.  Reducing your expenses or choosing a smaller home can create a retirement fund that can add to your existing retirement.  This can supplement your income so you can live a more comfortable lifestyle.  It also opens up the opportunity to travel, a dream of many retirees.  

Seeking a New Investment

If you are looking to invest in property, downsizing to a smaller property to get started is an immediate investment.  A smaller property expands the market for potential buyers when you decide to sell, and frees up a portion of your total to invest in more properties.

Your Eyes are Too Big for your Workload

Maintaining a property is hard work, especially a large one.  There’s no shame in admitting when you have just had enough!  Sometimes, a large, beautiful home can catch our eye, but the reality is a never ending battle to keep up and keep it maintained.  If your property is causing you sleeplessness and more trouble than you need, it’s probably time to downsize- at least until you can hire that full cleaning crew.
No matter what your reason may be, our professional movers are here to help.  We can recommend storage space, pack your belongings into moving boxes, and move you safely into your new downsized home.   

Sources:

HGTV

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