5 Signs You Should Consider Downsizing
It’s fairly common to want to downsize, and swap your large, high-maintenance home for something a little better suited. But how do you know when it’s the right time?
Here are some signs to consider when deciding if your home is still right for you:
1. TOO MUCH MAINTENANCE
Do you worry about how much gardening or home maintenance you’ve got on your plate? If so, it might be time to downsize. Property maintenance can be tiring for the body, mind, and hip pocket. So, moving from a high-maintenance home to a smaller, lower maintenance home can alleviate stress, while affording more time for the finer things in life.
2. UNUSED SPACE
If your children have flown the coop, or if your priorities have changed, you might find yourself with empty bedrooms or unused living space. Extra space isn’t necessarily a bad thing. Still, downsizing may reduce rent or repayments, and free up funds for other areas.
3. MOBILITY CONCERNS
As we age, it can become difficult to complete various tasks. And bending, stretching, and balancing can all become an unavoidable daily challenge. If you’ve lived in your home for quite some time, you might find that it’s no longer age-appropriate. Second storeys with tall staircases, tight corridors or uneven flooring can all become difficult to traverse. If you’re having trouble navigating your home, it might be time to downsize.
4. LIFESTYLE CHANGE
Retirement, new hobbies, and changes in family dynamics can change your housing priorities, too. Say for instance; you moved into your home because of its spa or large entertainment area. Or you picked your home because of the large amount of shed space. If your life has changed in a way that means you no longer appreciate the facilities your house has to offer, it might be worth a change.
5. SHIFT IN FINANCES
Downsizing can be a great financial decision for some. If you find yourself worrying about bills, harnessing the equity in your home by downsizing can be very helpful. Otherwise, if you’re renting, a smaller place (with lower rent) could also lighten the financial load.
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