Downsizing your home means selling your current home to purchase a smaller and – likely – less expensive home. Whatever the underlying reasons may be for downsizing, there are many positive benefits.
Financially, downsizing can reduce your monthly payments or even eliminate your mortgage. A less expensive home can also mean lower property taxes and insurance premiums. Ongoing maintenance expenses and utility costs for heating, cooling and electricity can also be reduced by hundreds, or even thousands of dollars per year.
If your space needs have changed, downsizing can also improve your quality of life. Having a smaller home to maintain can lower your stress level – and it can also afford you the means to enjoy life to the fullest… giving you extra time to relax, to travel, or to improve and expand relationships with family and friends.
Many factors come in to play when deciding exactly how much home you need – and, sometimes… smaller is better!
