There are times when moving up in life means buying a bigger home. And times when smaller spaces might make more sense, and a maintenance-free lifestyle is a better fit. Retirement is the most common reason for considering downsizing, as people want to stretch their retirement dollars. There are other benefits to consider as well.
A smaller home means less space, and it also means less time, stress and money spent on upkeep. If you are feeling overwhelmed, from the physical work of caring for a large property or from worrying over home finances, consider a smaller property or a condo. The time and money spent paying others to help you clean or maintain a home can be a lot of work in a big home. Where will you put all of your stuff? Sell it and put the money toward a reducing debt, boosting your retirement, or taking a trip.
Walking by unused rooms in your home is a sign you should consider scaling back. Unused rooms cost money in property taxes, maintenance and utility bills. Downsizing can mean you consume less energy, use less space and spend less money. If your adult children have moved out, it may be time to sift through the memorabilia that take up space and energy. Life can be easier and simpler with a manageable home and fewer possessions.
With inventory of homes for sale currently very low in Naples, and appreciation values very high, now is a great time to sell your home at top dollar. It may be time to cash in. Use the proceeds of your current home to purchase a smaller home, and get rid of a mortgage. After years of keeping up a single family home, a condo may be the answer, offering a low maintenance lifestyle, as well as security and peace of mind. If you are interested in finding out what your home is worth, and discussing your options, please contact me.