Sometimes you buy a home and love it. But over time, you begin to wonder if the house is too large for your needs. This is a common situation for many homeowners, and they start to question if they need to downsize.
Let’s review some common signs which indicate it is time to consider downsizing.
Struggling to keep up with the maintenance
Home maintenance tasks like mowing the lawn, shoveling snow, and repairing regular wear-and-tear are often time-consuming or tiring. Even if you pay someone else to do these tasks, it’s an extra expense for you.
A homeowner may want to consider downsizing if it starts to become difficult to maintain their home. By moving to a smaller home, they will save money on maintenance expenses. It can also increase the value of your home when you sell it while it’s still in good condition.
Empty, unused space
If you have spare rooms that you don’t regularly use, it may be time to get rid of that space. It could be costing you extra money. Bigger properties have bigger insurance and tax costs. While this expense could be worth it if you use every room, a homeowner could save money by moving to a smaller, more intentional home.
Often empty nesters face a situation where they have more space than they need. As children move out, parents can consider downsizing their home to meet their personal needs.
Want to earn a profit
Sometimes homes are more valuable than at the time you bought them. Exchanging a large house for a small one could lead to a profit. People could use the extra money for retirement savings or other financial goals.
Finding a realtor for selling a home is one of the most effective ways to make it a stress-free experience. A good realtor can find qualified buyers, negotiate the selling price, and help with the paperwork.
Desire to simplify
Sometimes people experience a lifestyle change and want to simplify their lives. Downsizing a home could help a person eliminate items they don’t need and create an intentional home. Moving could also limit the number of chores a homeowner needs to do.
Sometimes financial considerations lead to a more minimalist home, but there is also a movement for living a thoughtful lifestyle. Owning a smaller home may fit your lifestyle more than a large house.
Looking to retire
People close to retirement should consider moving into a smaller home. Not only does it save on overall housing costs, but a retired person could also lower expenses for property taxes, home insurance, and mortgage. As retired people start to use their savings to pay for expenses, they might stretch out their savings more by having lower costs.
Change in budget
Maybe you got a new job and have to move closer to the office, or a change in income means that your current mortgage takes up more of your budget. Stressing about how to pay for your mortgage can take a toll on a person’s health. Sometimes the solution is to downsize your home to live more within your means.
Need a real estate agent near Lancaster County, PA?
If you need help finding a realtor for buying a home or selling your current house, consider Life Changes Realty Group. We’re dedicated to providing you with high-quality customer service and building the Lancaster County, PA community. With your dreams and our experienced real estate agents, a new home can become a reality.
Schedule an appointment online or call our Lancaster office at 717-621-2672. You can reach our Elizabethtown office at 717-366-4056. We look forward to hearing from you.