I’ve become somewhat of an expert in moving homes, especially since I’ve moved 10 times in the past 10 years.
While I don’t recommend moving as often as I do, you might feel the need to change your homebase because of a new career, you dislike your current neighborhood, or you want to be closer to family. Chances are your home will no longer meet your needs and lifestyle at some point in your life.
The choice to downsize and simplify your life might seem appealing but how do you know it’s a good idea before you spend all that time, money, and energy on a big move?
Here are 6 telltale signs you should downsize your home.
You Have Too Much Space
This is the most common sign that it’s time to downsize. If you have a 3-bedroom house and live with your partner or just one child, then a smaller home might be a better fit for your family.
Most homes have many bedrooms and bathrooms plus a lot of unused space, and this space becomes emptier when your kids move out. It’s easy for this extra space to become a dumping ground for unused and irrelevant clutter. Downsizing to a smaller house means every room will have a purpose and be used daily.
You Have Too Many Expenses
Huge homes usually come with some hidden costs, but with a smaller home, you won’t have to worry about mortgage payments and property tax, which can increase your home’s valuation.
Downsizing is the best option if you find yourself dealing with too many expenses. Instead of paying for a big house you won’t need, you can save money for retirement.
Retirement is another reason why people downsize their houses, and this helps them increase their retirement funds.
Downsizing can be helpful if your current home isn’t senior-friendly. You can consider doing renovations to make your home safer or downsize your home. Use a Portable Storage Box to put some of your belongings if they won’t fit in your new home.
You’re Often Away From Home
If you love traveling and are away from your home for long periods of time, then you might downsize your home or even move to a more convenient location. What’s the point of having a big house if you’re not in it most of the time? A smaller home makes sense if you’re not there often.
You Want to Cash In
Your property has probably increased in price over the years if you’ve owned it for an extended period. You can get some extra financial liberty by trading in your big home for a smaller home that best suits your needs.
Today, many people tend to trade in their big homes, not only to get financial freedom but to help their older kids buy their first homes.
There’s Too Much Maintenance
Maintaining a big house can be complex, and it’s can be harder to handle financially or physically. By moving to a smaller home, you save money that would have otherwise be used in cleaning and repairs. You’ll also reduce the time you spend on household chores and have more time to do what you love.
Whether you want to retire, cut down maintenance costs, or cash in, downsizing can be excellent option. When you downsize your home, remember to ditch the clutter in advance so you’ll have less stress when the time to move comes.
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