If you are an empty nester and / or struggling to deal with the physical and financial upkeep of your home, there is a real opportunity for you to have that financial edge, save money and enjoy the equity freed up from the sale of your home by downsizing to a smaller home.

Advantages of downsizing:

• Increase your cash flow with your equity in your current home
• Boost your retirement savings
• Lower utility bills
• Reduce your acquisition and consumption
• Less stress
• Spend less time cleaning spare rooms
• Have more time for activities that you love

Trade-in your mortgage for a paid-for home by using the proceeds from selling your current home to pay cash for a smaller one.

PLAN AHEAD. Do you need extra space for a hobby, or a business on the side? Is the extra space more of an inconvenience than it is worth?

DECLUTTER. Revisit closets and sell or donate what you don’t need instead of taking them with you to your new smaller home.

OTHER COSTS. What costs are necessary to get your current home market-ready? Will your current belongings such as furniture and appliances work in your new smaller home?

TIME IT. Downsizing in a seller’s market gives you more money after closing.

SELL FIRST. That is the general rule, with maybe some exceptions. A real estate agent can help you strategize. If you need help with selling your current home and buying a smaller one, feel free to contact me.

Are you considering buying a smaller home?