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The Benefits of Downsizing

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Have all the kids moved out of the house?  Does your space just seem too big for you now?  Downsizing to some may seem like a step backwards but can actually be a step forward.  All that time and money spent on upkeep and maintenance can now be used for different, more exciting things.

Homeowners decide to downsize for a number of reasons.  Some may be retiring. Others may just want a low-maintenance lifestyle.  Many adults 55+ are leaving their suburban homes and heading into condos or lofts.  These homes are easier to maintain, usually in ‘walkable’ neighborhoods, and with easy access to transportation, culture, restaurants and nightlife.

SO IS DOWNSIZING RIGHT FOR YOU?

Ask yourself:  Does the size of my home matter?  If you enjoy living in a big house and entertaining a large family or many friends in your home, perhaps downsizing is not the best choice for you, but if you’re ready for less maintenance, cleaning and a home just for your own enjoyment, then downsizing may be the right choice for you.

Also think about whether any other people in your life would be affected by this decision.  Do you have adult children looking to move back in or if you are the hub of larger gatherings at your home?  If that is the case, you may still be able to downsize keeping in mind certain features you may need such as a second bedroom or large living area.

Downsizing gives the impression that you will spend less money, which can definitely be true.  However, you may need to replace some furniture to fit your new space so keep that in mind.  Consider selling some of your larger pieces to offset these costs.

Some definite pros to downsizing to a condo, townhome or loft are the decrease in maintenance (e.g., gardening and exterior home maintenance, etc.) you have to do. Instead, you will pay homeowners’ association fees/dues so that others will maintain the common elements for you.  Perhaps you will save money and time when downsizing and be free to take that bigger vacation you’ve dreamed about or check off some items from your bucket list.  Just like the saying goes, less is more!

We have been working with downsizers for years.  Let us use are expertise to help you downsize to the property of your dreams!  With our many connections and experience in the Gold Coast region, we are real estate partners you can trust!

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