The Upside of Downsizing
Most American families have plenty of room to downsize their home without it impacting their style. Buying a big home does not equal a better lifestyle or image.
According to the United States Census Bureau, the average new single-family home comes in at over 2,600 square feet. Some readers may not consider that to be a large home, but don’t forget that back in 1950 the National Association of Realtors reported the average home to be 1,000 square feet or less. That’s 1,600 square feet of difference! How our perspectives have changed.
Moving into a smaller home is an adjustment, without question. It may even feel like a step down. But let’s take a closer look at some of the major upsides: Saving money, saving time, and cutting down on clutter in your life!
- Think Long-Term
If you’re thinking about downsizing your house, planning ahead will help ensure your transition is a success.
- Keep It Functional
Remember back in college when your entire life fit in that tiny dorm room? Somehow you had everything you needed within arm’s length. It’s time to go through those closets and sell what you don’t need or donate it!
What if you reduced your mortgage by $500 a month and put that cash toward other financial goals? Use the proceeds from selling your current home to pay cash for a smaller one. Just imagine what you could do with no mortgage holding you down!
Downsizing might not make sense in every situation, but it’s worth a look if saving money and simplifying life appeal to you. Boomers Transitions partners with experienced real estate agents to help determine your homes worth and strategize the most efficient way to cut costs. If you’re ready to downsize and out don’t know where to start, Boomers Transitions will propel the entire process and put you in touch with trusted and local professionals through the entire process.
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