If you find yourself on the path to retirement, you may be slowing
down the pace of life to evaluate your current expenses, review tasks
that no longer make sense for your lifestyle, or consider other
interests that would be of better use of your time. As you think about
this next phase of your life, you may find that the house you’ve called
home for so many years no longer works for the new lifestyle you plan to
create. While selling your home may conjure up feelings of grief
towards the memories shared in your current home, there are many
advantages to downsizing. Here are some benefits you may want to
consider for your new life.
More Money in Your Pocket
Downsizing
will put you in a smaller home, which could likely result in a lower
mortgage payment. The extra money you would normally spend on those
payments can now be used for other things around the home or to enhance
your new lifestyle.
Easier Maintenance
With
a smaller home comes smaller spaces to be responsible for. You’ll
likely spend less time and energy managing clutter. You’ve probably
never realized how much time you’ve spent over the years manicuring a
larger lawn or vacuuming room after room. Smaller spaces will free up
your time to do things you actually enjoy.
Lower Utility Bills
Heating
and cooling a large home will cost you. As your square footage shrinks,
you should see your utility costs shrink too. It’s another way to put
extra money back into your wallet, and the energy you're saving helps
keep your home as green as possible.
More Accessibility
If
you’re downsizing due to age, you may find that your current home just
doesn’t meet your physical needs anymore. Downsizing allows you to find a
home that better suits these needs as you continue to age.
Downsizing
doesn’t only have to apply to retirees. Many buyers and sellers of all
generations have found that downsizing is a reasonable step to take for a
happier, healthier, and more economical lifestyle. For more assistance
with downsizing and the Hampton Roads housing market, connect with
nearly 9,000agents on REIN.com.
Ready to buy but not sure what you can afford? Check out the mortgage
calculator to help estimate possible monthly payments. Download the REIN.com app
and put the power of fresh and accurate listing data in the palm of
your hand. The app is available free in the Apple App Store and Google
Play Store. For local listings you can trust, start with REIN.com.
Local Home Listings You Can Trust.
