Should You Downsize?12/16/2016
The trend of “downsizing,” or moving to a smaller home, is still going strong throughout the country. It’s especially popular with people who are in or close to retirement, who have grown children who no longer live at home, or who desire a more urban lifestyle. Is downsizing right for you?
There are many benefits to downsizing, including:
- Reduced mortgage (or rent, if you decide to lease) payments
- Less of your time and resources need to be spent on maintenance
- Lower utility bills
- More housing options
- Ability to live in different neighborhoods that might not have large homes available
There are also some realities to downsizing that it’s helpful to think about before you make a decision.
You will have less storage space. At first, this seems obvious; it’s called ‘downsizing,’ after all. In our day-to-day lives, though, we often lose sight of how many things we store in closets, garages, basements, and even little-used rooms. Take a walk through your house as if you’ve never been there before. Make a mental note of the items you’ve stored, and consider if you are willing to either part with them or store them in an off-site storage unit if they don’t fit in your new home.
You may not be able to host overnight guests. Your new home might not have extra bedrooms or bathrooms, or it might be an open plan without full-height walls. This doesn’t mean you can’t have family or friends stay at your new home, but it means both you and they will need to have realistic expectations. Some people consider this an upside, because it provides an easy out when you don’t want to host!
The lifestyle might be different. Especially if you are moving to a different neighborhood or type of environment, there can be changes in noise level, number of people, amount of businesses near your home, and traffic. This can be exciting, but it can also be stressful if you’re not prepared for a change.
None of these have to be negatives, but you need to find the right fit for your lifestyle and goals. If you’re thinking about downsizing but aren’t sure if it’s right for you, I can walk you through the pros and cons that are specific to you. Email or call me today at (816) 916-4292 to set up a time to talk.