At some point, everyone has probably thought about when they might need to buy a home. For many people, this is included in their shift towards adulthood. However, the other end of this process, which tends to be given less thought, is when you might need to downsize your home? While downsizing is usually associated with retirement or becoming an “empty-nester,” these aren’t the only reasons you could be considering downsizing. If you’ve been tossing around the idea of downsizing, then here are 5 signs that it might be the right decision.
- The Size & Features of Your Home Are Going To Waste
If you have kids who went off to college or have permanently moved away from home, this idea might be familiar. For instance, if you have more than one spare bedroom that is not normally occupied, this could be a sign that the features in your home no longer fit your lifestyle. The same goes for things like pools, home offices, and more.
- You’re The Oldest Resident In Your Neighborhood
While being the oldest resident in your neighborhood doesn’t necessarily mean it’s time to move, if it’s something you’re constantly made aware of, maybe it does. If this is something that you’ve been noticing, listen and be honest with yourself. If you feel like it is a problem for you, it is essential to recognize that.
- You’re Not Tied Down By Location
Often, retirement is associated with downsizing for this exact reason. However, if you no longer need to be present in an office or a commute is no longer a top priority when looking to move, then downsizing could be in the cards for you. Likewise, finding a new home may be easier if the location is no longer a deal-breaker.
- The Upkeep Is Becoming Overwhelming
This is possibly one of the biggest and most blatant signs that it is time to downsize your home. While homes with large backyards and lots of landscaping are beautiful, they can quickly become overwhelming, especially the older that you get. When kids move out, and the number of people in your home decreases, cleaning and working on your home can become more and more overwhelming and eventually too much. There’s no shame in choosing to move to a home that better suits your needs and energy level.
- You Need To Fund Other Expenses
Over time, many expenses pop up, whether putting kids through college or saving for your retirement. Downsizing your home is a way to free up money in some places to make room for it in others. It could be the best financial decision for you.
No matter what reason you’re choosing to downsize, you don’t have to do it alone. Berkshire Hathaway HomeServices Beazley, REALTORS® can help. Ask one of our agents here how they can help you prepare for your next lifestyle choice.
