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Downsizing is an increasingly popular choice for homeowners because they are discovering so many new benefits of downsizing. There are many reasons for downsizing. Children moving out is the most well-known reason. People often buy their first home or buy a larger home thinking of having plenty of room for their children, so it is quite logical that when the children move out, the parents no longer need such a large house. The costs and space end up seeming like a waste.
A change in income or differing financial needs, such as losing a job or getting older, may make a homeowner want to alter their budget. They may find that they could create a sounder budget or that they would have more money to spend on other practical or fun things if they downsized.
Benefits of downsizing may include:
· eliminating mortgage
· lowering utility costs
· having to do less yardwork
· needing to do less housework
· not having to pay someone else to do housework or yardwork
· reducing carbon footprint
· fewer maintenance tasks to manage, and pay for
· fewer things to need repair
· avoiding unnecessary upgrades and remodels
· extending time to live at home independently in the face of disability or reduced ability
· have less room to accumulate clutter
· reducing stress
· gaining more time to use for things that will make you happier
· saving money to use for other things that will improve your life
· gaining money to use on fun things
Large homes certainly have appeal, they look impressive, giving people a sense of accomplishment, and they offer more room for people and things when a homeowner is planning a family or wants to engage in hobbies. A large home also costs a lot more and comes with a lot of responsibility and headache. It is quite common for a homeowner to decide that a large home isn't their priority anymore and downsizing could take a huge house-sized load off of both their wallets and minds.
A real estate agent, like Missy Banks serving South Charlotte, can help homeowners find the perfect home to gain the most benefits of downsizing according to their needs. For instance, when downsizing to avoid maintenance and repairs, one probably wants a home with fewer features that can develop problems. But a couple downsizing because their children have moved out may want to gain some luxuries (like high end finishes and/or appliances) or move to an active community to help them make the most of their time as a twosome. Whatever your reason for a downsize move, let Missy Bankswith Allen Tate get you started.
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