Senior Real Estate Resources April 15, 2024

The Perks of Downsizing When You Retire

If you’ve recently retired or are about to, saving money where you can has a lot of appeal. Downsizing is one way to do that.


To see if it’s the right move for you, ask yourself:

  1.  Have my needs changed since I bought my current home?
  2. Can I really keep up with the space I have right now?
  3. Is trying to save on housing expenses a priority?


If you said yes to any of those, it may be time to downsize.


Downsize Your Home and Your Expenses


Opting for something smaller typically means cutting down on your energy and maintenance costs too.


A smaller home typically means lower bills and less upkeep.


Use Your Equity To Fuel Your Move


When you sell, the equity you’ve built up in your current house may be enough to cover some (if not all) of your down payment on your next home or make you an all-cash buyer.


The average amount of homeowner equity today


If you’re thinking about moving to a smaller home, let’s go over your goals and look at your options in our local market.