Retirement Tips: Deciding to Downsize

Real Estate

Reasons to Downsize Your Home

When looking for a home, one of the biggest reasons families decide to invest in a larger home is space related. You want to ensure that there will be enough room to accommodate your growing family, entertain guests and create a comfortable lifestyle for your loved ones. But what happens after the kids are all grown up and you’re the only one left in the home? Rooms are left empty, home maintenance tasks pile up and your left paying for more space than you use.

As you approach retirement, you may be looking for a way to lower your cost of living, maximize your space and extend your retirement finances. Your best option in this scenario is downsizing your home. Let’s take a look at some of the benefits of downsizing.

The Benefits of Downsizing

Keep in mind that downsizing does not equal downgrading. You can easily classify your choice to move to a smaller space an upgrade when you consider the long-term benefits of the situation. One of the biggest benefits of downsizing is a smaller mortgage payment. Imagine the mental and monetary freedom that comes with paying less for your home every month.

You’ll also spend less money spent on utilities and maintenance in a smaller space, which means more money in your pocket for other things. With more money in your pocket you can tackle any lingering debt, boost your retirement fund and pay-off your mortgage. All roads point to more financial security, which is a major stress-relief as you approach the retired life.

Additionally, a smaller home is easier to maintain. Spend less time cleaning and more time enjoying your new space. You’ll find that less cleaning, less time maintaining will give you more time to pursue the things in life that really matter. Take the extra time and money you have to plan a trip to a place you’ve always wanted to visit or make more room in your schedule to spend quality time with family. The possibilities are endless.

Downsizing your space also means downsizing your things. Finally, you can get rid of all the clutter that’s been piling up over the years and start fresh with a clean slate. With less space for things, you’re not only forced to remove baggage, but it’s also less tempting to accumulate more things later on down the road. 

Selling in Orange County

At the end of the day, there’s a time to upsize and there’s a time to downsize. Knowing when to make the right move at the right time can save you both time and money in the long run. If you’re thinking about downsizing and are ready to sell your home in Orange County to invest in property elsewhere, I can help you sell.

With a growing pool of interested buyers throughout Orange County and a limited selection of inventory, now’s the time to take advantage of the equity you have in your home and capitalize on your real estate investment. With more than $250 million sold locally throughout Orange County, I can help you get the best price for your home. Call me at 949-285-3215 today to discuss your options. 

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