The traditional path of homeownership is typically parabolic. The new homeowners tend to find a smaller place that’s in their budget, and as their family and income grow, they move to larger houses. However, as people age, the size of their homes tend to go the other way.
If you’re in a big home right now and you feel as though it may be time to downsize into something a bit smaller, here are some reasons why you might be right.
No matter what age you end up deciding to make the call, retirement eventually seems like a viable option for the majority of people. Retirement is one of the most common reasons for people to downsize in an effort to make what they have last. A bigger home usually means more expenses, and retirees want to stretch their savings as far as they can.
Your current home is too much work
As a homeowner, you know how much work owning a home can actually be. That amount of work usually increases in parallel with the size of the home as well. No matter where you are in life or how old you are, it can seem like your current home is just too much work. In that case, downsizing to a smaller, more manageable home would seem like a great solution. Moving into a new home community would make that downsize even more manageable.
Your house has too many rooms
When you bought your current home, you marveled at the number of rooms it had, thinking you’d always have room for guests. Years later, you’ve come to realize that those empty rooms primarily stay empty for the most part. While it may be useful for that every-so-often occasion where your cousins from the West Coast come to visit, it’s pretty much just empty space.
Your home has appreciated
If you’re sitting there wondering if looking at smaller new homes is your best bet, consider how much you’d get for selling your current home. If it’s appreciated significantly, you could be in for a hefty payday when you put up your home for sale.
No matter your reason for downsizing, be sure to do your homework on your new home. Consider your ideal location, and whether a home for sale in your ideal neighborhood is a step up (quality wise, step down size wise). Buyers typically spend 10 weeks searching for a new place and look at a median of 10 houses. So don’t worry if you don’t find the perfect home for sale right away, you have plenty of time.
Looking to downsize to a smaller home, but upgrade to a better living condition? Give us a call today.