Why Downsize Your Home

Have you been thinking of downsizing your home? Why downsize your home? Downsizing your home can provide numerous advantages.

6 BENEFITS TO DOWNSIZING

1. A smaller mortgage if you’re not paying cash for the new home.
2. Lower property taxes.
3. Lower insurance rates for a smaller home.
4. Lower utility bills.
5. Less maintenance both inside and outside of the home.
6. Freeing up equity you have in your current home to pay off debt, fund your retirement or other lifestyle plans (such as travel, purchasing a vacation home, etc.).

WHY DOWNSIZE YOUR HOME: HOW HOMEOWNERS WIN WHEN THEY DOWNSIZE

Downsizing is a popular option for homeowners when they are thinking about retiring or when they become empty nesters. But before you take the plunge to down-size, you should carefully consider your reasons for moving and figure out how much it will cost to downsize. Selling your home and moving to a new one will include brokerage fees, legal fees, sales tax, capital gains tax in some cases, moving fees, home fix-up costs before you sell.

 3 QUESTIONS TO ASK YOURSELF IF YOU’RE THINKING ABOUT DOWNSIZING

Whether you’re looking to downsize to reduce expenses and save money, to relocate to a dream destination, or move to live closer to loved ones, if you’re thinking about downsizing, ask yourself these questions:

• Do the original reasons I bought my current house still stand or have my needs changed since then?
• Do I really need and want the space I have right now or could somewhere smaller be a better fit?
• What are my housing expenses right now and how much do I want to try to save by downsizing?

If you’re thinking about moving to a smaller home it’s important to have a strategy in place before you start. Let’s connect to go over your housing goals and look at your housing options for a smaller home in the Greater Charlotte area.