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Do The Pros of Downsizing Your Home Outweigh The Cons?

Do The Pros of Downsizing Your Home Outweigh The Cons?

By Jennifer Herron Underwood

You’ve lived in your home for over 20 years. When you bought the two-story house, your children were living at home, and you needed those 4 bedrooms. You loved having that spacious yard for them to run around and play baseball in the backyard. Cutting the grass and working in the garden was how you enjoyed your spare time. Fast forward to today, the steps are a bit much and you would really love to have laundry on the first floor. The yard used to be your pride and joy. The flowers and curb appeal used to be crisp, but now it is getting harder and harder to make it the show place it used to be. The snow will be here soon and the thought of shoveling is a bit overwhelming. Maybe it is time to start thinking about downsizing. Will the pros outweigh the cons?

The Pros of Downsizing…

  1. A More Spontaneous Lifestyle.    Have you been dreaming of taking that vacation you’ve always wanted? Maybe you’ve always wanted to go south over the winter. By downsizing your home to something smaller, a cute condominium, or an apartment it will allow you to lock your door and leave much easier and more confidently. Maybe you just want to invite company over, you can do it without the added stress of spending the day preparing because the common grounds have been taken care of and the snow has been shoveled.

  2. Fewer Responsibilities. When you’ve cared for your home most of your life, it becomes second nature.     This makes it easy to overlook how much time you invest in your home from mowing the lawn to cleaning the gutters. Moving to a new home will provide you with more free time and more manageable spaces. Senior living even offers additional services such as housekeeping, linen services, and more.

  3. The Perfect Space for Your Needs. There is nothing like a fresh start and a blank page to inspire your creativity. A new home functions the same way. Downsizing your home gives you a chance to assess your vision for an ideal home. It allows you to keep your most treasured possessions and eliminate the clutter you no longer need. You can build the space to work for you.

  4. New Lifestyle Opportunities. Packing and cleaning are never exciting but it’s time to focus on the benefits and excitement of your new home. If you have chosen senior living, you’ll enjoy a community that offers endless opportunities to live the lifestyle you’ve always wanted. A more active and social lifestyle awaits you. It’s a quality of life and socializing that is difficult to achieve on your own.

  5. Greater Financial Security. Selling your home, especially if it is paid for, may provide you with a significant cushion to your budget. It may also help fund your entry into a senior living community. A financial advisor can help you. If you do move to a community, you may experience a set monthly budget, you will save on large expenses like homeownership expenses and landscaping.     A condominium may help you save money on major expenses like a roof for example.

The Cons of Downsizing… Sometimes downsizing can feel overwhelming and since you are getting rid of things, those feelings will start to overtake the process. Many people have an emotional attachment to their things and that attachment makes it harder to get rid of things. Downsizing will take away your extra space for guests. Finally, change in general can be one of the hardest parts of downsizing.

The question becomes do the pros outweigh the cons? Only you will know. If you are thinking about downsizing in the next 6-12 months and would like a free downsizing consultation and to see how much your home is worth, give Jennifer a call at 440-371-2862.



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