Things You Can Afford When You Downsize Your Home
If you are considering downsizing your home, you are likely weighing the pros and cons and maybe even battling some depression and anxiety about the move. One of the main pros of downsizing your home is all the money and time you could save. To help you make up your mind about downsizing your home, or make yourself feel better about having to, we'll discuss all of the ways downsizing can benefit your life. This can help you envision and make real in your mind the positivity of the change.
Things You can Afford When You Downsize Your Home
When we have a growing family, we feel we need a lot of space, and society pushes us to get a larger home to prove our success, so many younger adults prioritize buying the largest house they can. But there is definitely such a thing as too much house. Empty nesters often discover all that house is going to waste and costing them a bundle, but anyone can have too much house. They aren't getting enough benefit from it to justify how much it is costing them each month. There are probably more times a house is too much than not.
A smaller home costs less money each month, requires less financial investment in maintenance and repairs, and demands less cleaning and lawn care. Where do you want your time and money to go? To your large house or your life? What about when so much of the large house is empty, filled with junk, or made into "luxury" rooms you never use, and costing you money to keep and maintain it?
Downsizing gives you more time to:
· pursue hobbies
· spend time with family and friends
· go somewhere for the day
· get a good night's rest
· do fun chores like special cooking and gardening
Downsizing gives you more money to:
· pay off debts
· keep your living space in better condition
· have luxuries like a pool or spa bathroom
· go on vacations or travel
· have a second home
· splurge on those you love, including yourself
· live in a more exciting location
· invest in hobbies
· invest in a small business
· take on work you'd actually enjoy rather than prioritize a large paycheck
· remain in your own home when faced with decreasing ability
· afford any lawn maintenance and cleaning you may still need
· renovate the home to your liking
Downsizing can definitely seem sad or like a defeat. Maybe you just don't want to put the stress of moving on your plate.
if you are feeling either of those ways, it is perfectly reasonable and you should make the choice that is right for you, but definitely consider all of the pros when making your decision.
Who have you wished you had more time to see? How would downsizing protect you against the future? What specific places would you like to go, new work would you like to do, or hobbies would you like to pursue?
Written by Missy Banks of AgentBecky.com and Allen Tate Realtors. Missy is a full time real estate professional and a top relator with Allen Tate and the Charlotte area. AgentBecky.com is a user friendly real estate search tool with update MLS listings.
Let Missy Banks with Allen Tate Real Estate help you with your real estate search!