How to Downsize your home & Right-Size your life!
What does downsizing your home mean to you?
Downsizing can feel like a complex puzzle, filled with numerous pieces and the challenge of figuring out the right order. What does downsizing mean to you? Life changes happen naturally. Maybe you’re an empty nester, a widow or widower, retired, or just slowing down a bit. Maybe the kids want you closer, or you’re simply done with all that extra home/lawn upkeep and unnecessary expenses. Or perhaps, you’ve got new hobbies, and you want to be closer to the action! There can be a dozen other reasons, perhaps you need equity from your home to travel or simply that you’d like to splurge on your kids & your grandkids!
Ease on Chores:
A smaller home often means less housework and overall property maintenance. Spending less time on upkeep gives you the flexibility for spontaneous vacations, outings, hobbies and visiting with friends and family. If you are now living alone or just with your partner, ask yourself if your space still serves you, or is it simply too big? For some, they are holding on to all those extra rooms in case the children come home to visit. And that could be a valid reason but likely there could also be alternatives that may make more sense.
Strategic Location:
Right-sizing presents a unique opportunity to relocate to an area better aligned with your current and evolving lifestyle, whether it’s proximity to family, cultural activities, or recreational pursuits. Perhaps you envision spending less time in Canada altogether, in favour of warmer weather and palm trees. It could be that you’d simply like a lakeside view or you now appreciate being able to walk to restaurants. Of course, it could also be that you are in physical need of personal care and moving to an assisted living facility will provide peace of mind and companionship with other residents.
Tailored Floor Plan:
Your current home may have served different goals. A new, well-fitted floor plan ensures your home aligns with your current and future needs for optimal quality of life. If you are struggling with stairs for example, a condo or bungalow may make life so much easier. Maybe you need a wheelchair ramp or a no maintenance yard. For some, it isn’t necessarily even a smaller home they are seeking but just a different one.
Boost Your Budget/ Diversify Your Investments:
Investing in a smaller space translates to reduced expenses. Trimming down on utilities, maintenance, repairs, insurance, and property taxes not only lightens the financial load but also unlocks additional funds for indulging in your retirement pursuits or spoiling your loved ones. While your home remains a significant asset, unlocking equity could provide newfound freedom to explore other avenues. When was the last time you looked into how much your home is worth today? The number may astound you. For a free home evaluation, connect with me here:
My thoughts: