Need help in determining the Right Time to Right Size your home? Get answers and guidance from Denyse Naylor, Broker with The Naylor Team and Southern Homes of the Carolinas. The term “downsizing” can sometimes make a home owner feel that they are stepping down in a standard of living when actually the opposite may very well be the case! That’s why I use the term “right sizing” ! It’s actually making a decision to choose a home that is right for your current wants and needs.
Is 2018 the right time to right size your home? Here are some things to think about that may help you to make the right deicsion:
Much of the space in your current home is not used regularly
If your children are grown and on their own you might be paying for space that you’re not using. Chances are you no longer need four bedrooms and three bathrooms! A larger home brings larger bills along with the space so even if you have no mortgage , you could still be paying a lot in property taxes, homeowners insurance, utilities and maintenance. This is a big factor in determining the timing for the right time to right size!
You are retired or retiring soon
Rightsizing for retirement is one of the most common reasons people scale back on home size. By rightsizing , you’re cutting basic expenses and creating more retirement income. In rightsizing your home for retirement, you may find a smaller, less expensive property that will reduce your property taxes, insurance and mortgage payments.
Too much maintenance in your current home
Home maintenance is hard work! Yard work and regular maintenance can leave you exhausted. Or maybe you just want to have more free time to do the things you enjoy now that you’ve retired. You’ve worked hard and now are finally able to enjoy the fruits of your labor rather than spend your time working on a home that is too big for your current needs. If you decide to pay someone to do the work for you it will increase the cost of living and actually decrease your spending capability for things you enjoy. By rightsizing your home when the time is right, you’ll leave more time for yourself and save money. so why not call me for more information?