Downsizing your Home…the Devil’s in the Details
Downsizing your home has been in much of the media lately. Depending on what you are seeing, some say it’s good and some say it’s not. It all boils down to the individual situations since It’s not a one size fits all solution. In fact, in order to determine if going this route is right for you, you need to consider all alternatives: aging-in-place; multigenerational/upsizing; reverse mortgage/purchase and decluttering.
Here are a few reasons people consider downsizing:
· Simplify your life - As we go through different stages of our lives, we need different things. Some raised kids or had family members living with them and needed a larger home. Some may have loved gardening and wanted a large yard. Some may have had animals or had a child in 4H and needed a pasture or stables. But now you may just want a place that’s easy to care for--a smaller yard and a house just big enough for your current stage of life. A smaller house means you have less to clean and take care of, which means more time to enjoy life.
· Finances - You may have bought your home many years ago and the equity in your home has built up nicely. Many folks would like to unlock that money so they can travel or pay off other debt.
· Family - You may want to be closer to your adult children so you can enjoy spending more time with grandchildren. Or you just feel like it’s time to be closer to loved ones in case you need some help or the security of being close.
· Medical - Health changes as we age and may make it uncomfortable or impossible to walk up the stairs, or maneuver multi-level living situations.
· Better Weather - Let’s face It, as we age, the cold temperatures can be tough on our bodies--perhaps relocating to a warmer climate where you feel more comfortable and can get out and participate in the activities that you enjoy the most.
These are just a few reasons people should consider when downsizing their home. I would love to connect with you and chat about your specific situation and see if it’s the right solution for you.
Kathleen Rose Stafford
Realtor, Vanguard Properties
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