Downsize Your Home And Put More Money In Your Pocket

There’s a lot to be said for downsizing your property. If you've raised children who have since fled the nest, then selling your larger property for a smaller one could be the right thing to do. Instead of having empty room after empty room, you’ll have a cozy new home that’s right just for you (and your partner). And there’s more good news, too - it might just put a chunk of money in your pocket, too. New beginnings, a simpler life, and more money? This sounds pretty good to us!

Downsize Your Home

Slash Your Monthly Expenses

You already know that how expensive it can be to run a family house. There are more expensive energy bills, more expensive insurance policies, and higher property taxes when you have a bigger home. By selling your home and choosing something smaller, you could slash the amount of money your house costs you each month. It takes a lot less money to heat a modestly sized house than it does a big one! And that’s before we even begin talking about your mortgage payments, which will also be less expensive. 

A Clear Out Of Stuff

We’re all guilty of acquiring more stuff than we need. When we know we have the space to store something, it’s usually only a battle with our impulse decision making that stops us from buying it; a battle that we usually lose. When it comes to downsizing, you’ll be able to review all the items you own and sell the stuff that is no longer needed. The average house has around $4000 of “junk” that could be sold! The stuff you do keep can be taken to your new home, and you’ll save even more money if you opt for a ‘sell home move free’ offer from a real estate agent. Who knew moving home could be so profitable?

Freeing Up Your Cash

Your house might be worth a lot, but you only own the house - you don’t have access to the value of your home. That expensive trip you wanted to take won’t take a portion of your house as payment. You need cash. If you sell your large house and buy a smaller one, you’ll be releasing a big amount of your equity, which you can then use to invest or buy the kind of things you always wanted to own, such as a luxury sports car, or a trip around the world.

Is it Right For You?

Of course, downsizing isn’t right for everyone. To begin with, it’s not just a matter of selling your home, buying a smaller one, then banking the profit. It’s more complicated than that. Older people might like the idea of freeing up cash, but resistant to move out of the family home. Even if they are comfortable with moving, find a house that is close to friends and family, amenities, and is in good condition might be tricky. Still, the benefits make it worth considering!

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