Tuesday July 13, 2021
Things change every day, especially in the housing market. One of the hottest trends right now is selling and downsizing to accommodate new lifestyles. Between the tiny house movement, fluctuations in income, and not needing so much space, downsizing may be ideal.
Who is likely to consider downsizing? Homeowners who are entering retirement with an empty nest or who want to do something different in life that doesn’t require such a large investment are ideal candidates.
Here are five reasons why it may be a great choice:
A large home can be expensive, especially when incurring utility costs, insurance, property taxes, and interest on a mortgage. Downsizing can help save money to be used for other things like retirement or travel.
Smaller homes require less maintenance. Your utility bills won’t be as high, it won’t take as long to clean, and it frees up time to do more important things on the priority list.
- No More Clutter
Living in a bigger home means filling it with “stuff.” As time passes, the need for all those material items usually disappears. Smaller homes mean a more minimalist lifestyle which can be freeing in more ways than one.
- Less Debt
Downsizing can also help get rid of debt. If there are large outstanding bills like student loans, car loans, or credit cards, this can add extra money to those obligations and possibly pay them off early. Adding additional payments will cut the time and interest on those payments to shave years off what you owe.
- Long-Term Goals
Long-term goals could become short-term goals when downsizing. For homeowners who have dreams of starting their own business or getting a vacation space, downsizing may help move closer to realizing those goals.
The days of buying bigger for aesthetics are over, and downsizing may make you wonder why you hadn’t considered it sooner. Landmark 24 Homes has a number of award-winning floorplan options to meet every need. Consider the sensible Spring Garden at 1,449 square feet or the popular Spring Valley at 1,643 square feet. Both are single-story, 3-bedroom, 2-bath homes and are great options for downsizing or even first-time buyers. Want more? Take a virtual tour and choose your favorite Landmark 24 Home today!