The housing market is still sizzling hot, with single family homes in steep demand. Those who are looking to cash in on the momentum, might want to consider downsizing. Not only will they be cutting down on future home-related expenses, they stand to make a killing in the marketplace.
1. You'll Likely Make a Big Profit If Selling a Big House
It's a seller's market, so most people are making a significant amount of money by selling now. You can buy something smaller for less money than what you'll likely get from your sale.
2. Buyers Are Eager To Take Your Place
Many families are moving to SWFL right now! Take advantage of this before the market gets flooded with inventory.
3. Lower Mortgage Means Extra Cash
Also less monthly expenses on utilities. Keeping cash in the bank!
4. For Retirees, It's Often 'Right-Sizing'
Right-sizing really comes to mind for empty nesters and to ensure household circumstances correlate with any shifts of income.
5. Less Maintenance
Reduce your burdens of house cleaning and maintenance.
6. A Smaller Home Can Be Easier To Grow Old In
Another pro is that you can live there even into retirement if you are a young family. Downsizing means less area to move around in, which is great as we age in place.
7. You Can Finally Declutter
Getting rid of the guilt clutter has an amazing impact for you! Meaning the 15 scraves your aunt gave you from when you turned 12 years old still in your closet. Downsizing forces us to accomplish this task. Decluttering personal space declutters our minds and gives us optimism as we move into a different lifestyle.
8. You'll Make Smarter Decisions With the Space You Have
The larger the space the more room to clutter it. The smaller the space the more conscious you are for placement of where items go in the house or on the wall. Ultimately spending less on frivolous items.
9. Help Out the Kids
More people are downsizing to help themselves have a better financial outlook. But also to assist their children get into the market and situate themselves with their growing families.
10. Align With New Perspectives Inspired by the Pandemic
Economists uncertainties coming with COVID-19 pandemic have made people re-evaluate their needs and necessities.
11. Downsizing Is a Safe Choice in a Time of Unknowns
Hopefully the pandemic will soon be over and the world can feel a bit less upside down. But the truth is, we don't know what will happen, and opting for a smaller residence that gives us more financial freedom could be the best move.
Bottom line is if you are exploring downsizing your home call me. I would be happy to discuss a couple of strategies and perform a home evaluation. Know someone who may be thinking about downsizing? I would appreciate the referral as well.