Go Back To Article List

Should I Downsize My Home?

Posted Monday, July 30, 2018

With a large population in the United States becoming Baby Boomers and empty nesters, people are finding it harder to maintain their family homes. Not only do property taxes continue to rise in many cases, but maintenance expenses can also be overwhelming. Are you one of those asking, "Should I sell my house to downsize"?

If you are finding yourself on a fixed income and your home expenses are too high, it may be time to consider selling your home. Another factor may be the layout of your home. As we get older, medical issues may arise where you need more mobility in your home. Older homes tend to have narrower hallways and doorways, making it harder to get around with a walker, wheelchair, or a mobility scooter. It just may be more feasible to buy a smaller home with easier access and one that is more "user friendly".

Also, if you were to sell your older home and buy a newer home, your maintenance expenses should be considerably less. Older homes, as well as larger homes, simply cost more to maintain. You may find you don't want to spend your time or money fixing up your current home. Finding someone who is reputable and who can perform repairs at a reasonable cost can be a bit of a challenge. By downsizing, the money you would be saving from paying your taxes and insurance could be money used for your retirement, travel or other expenses, especially if you are still making a mortgage payment.

Downsizing may not be easy, especially if you have several rooms full of furniture and momentous from travels, an inheritance, or from gifts, but do you really need all of that "stuff?" The answer is probably no. Consider giving some of your belongings to charity or other family members who would appreciate receiving a valuable gift from you.

If you've been in your current home for a number of years, you may be wondering what your home is worth or if it would be worth selling. Should I sell my house? ExpertHomeOffers.com can help answer your questions and guide you through the process. Simply click on this link, fill out the form, and someone will contact you with a free, no-obligation selling offer. You'll receive expert advice from someone who understands your situation. You have nothing to lose and may discover you have much more to gain.