A person’s life is ever-evolving. Your children may be leaving the household, your interests and hobbies may be changing, or you might just be looking to spice things up and embark on a new life chapter by selling your home.
As you reach your golden years, you want to live your best life. You can count on reliable senior downsizing services near you for guidance through this challenging process. In the meantime, keep on reading to learn why it makes sense to downsize.
Does it make sense to downsize your house?
Once you reach retirement age and no longer have to think about the 9 to 5 daily grind, you will have the luxury to spend your time any way you like. Now you can focus on yourself and put emphasis on your hobbies, traveling, and interests. There are several key reasons why downsizing can be the right decision for you.
Some see house maintenance as an exercise and a much-needed physical activity. The truth is that as you get older, the house doesn’t get any smaller. The everyday struggles of maintaining a property are bound to put a physical and mental strain on your body. Your living space should provide pleasure and not be a source of stress. Downsizing will allow you just that.
With a big house, chances are you’ve got a big mortgage. With the added expenses like insurance, taxes, and other fees, you might not be able to fulfill all your obligations anymore. It’s easy to see why downsizing is an option well worth taking into consideration.
3. Unused space
Most people purchase a big house to raise a family. Over time, your kids get older and move out of the family home. Vacant bedrooms, an extra bathroom, an eating area larger than what you may need is your new reality. Now, these rooms are nothing but empty, rarely-opened storage spaces. Why pay the heat & electricity for rooms you’ll likely never use again.
4. Time for a change
You’ve reached a point in your life where a change of scenery will do you good. Now is the time to downsize and focus on you and your hobbies, interests, and needs. Perhaps you’re looking to move closer to nature by Balboa Park. Now that you’ve got spare time, you can finally take up that hobby you’ve been putting off, or maybe do a bit of traveling. All these things are possible when you downsize from your current home.
Does downsizing save money?
When you realize a smaller space might be the right solution for you, it is logical to suppose that moving from a larger to a smaller home should generate a profit. Downsizing gives you flexibility and will provide you with much-needed funds. The pros of downsizing usually outweigh the cons. It will improve not only your quality of life, but you will see a spike in your finances.
According to studies by the US Government, all housing costs over 30% of your income are not affordable and should be reduced. If you reach this threshold, your home may have become a financial burden. Once you retire, your income situation will change, and downsizing offers a viable future solution.
However, you must bear in mind that the process of selling and buying a smaller home does not automatically create a profit. The whole process is fraught with unknown quantities and entails costs related to the family home’s sale and the new purchase. Reduce the risk of downsizing mistakes and think of the difference in the new home’s quality and location compared to the old one. Only when you are confident that most of the defined requirements are met should you embark on the process of downsizing.
Where can I find senior downsizing services near me?
Now is the time to downsize! If you are looking for property in San Diego and the surrounding area, get in touch with our experienced agent Nick Alameddin today!
Do yourself a favor, and let us take you towards a fulfilling lifestyle!