Previously we discussed the Benefits of Downsizing and outlined how downsizing can save you money, help the environment, and reduce your levels of stress. However, many people are reluctant to make the move because they just do not know if downsizing is right for them! To assist with the uncertainty that many of our client’s face, we have outlined a few questions that you can ask yourself to help you decide if downsizing is right for you.
What is your financial situation
The most prominent reason that people downsize is to reduce their costs. If you are experiencing a financial strain or would just like some extra spending cash, then downsizing could be the solution for you. There is no question that a smaller home requires less money spent on maintenance and bills, so downsizing to assist your financial situation is always a smart move.
Would you like to travel more?
Living in a large home can be time consuming and costly. Between maintenance and cleaning, many individuals and families find themselves contributing the majority of their nights and weekends just to their homes upkeep. What many do not consider is that although they have a large, beautiful home, their home is actually impacting their ability to travel.
One secret that is making its way to headlines is that by downsizing your home you may actually be increasing your chance to travel. Homeowners will not only save time and money on downsizing, but can now use that extra time and money to go on weekend excursions or world explorations.
Is the size of your family changing?
Most individuals downsize after their children head off to college – this is an obvious reason since the children will no longer be occupying a room. However, there are other changes in family dynamics that may indicate that it is time to downsize. First, there is divorce – the situation that no family wants to endure, but when it happens, downsizing can be beneficial not only in restructuring the home, but also in providing a fresh start. In addition, the loss of a loved one, say an elderly parent that you have been caring for, could be the trigger for a move. If you have been saving space for anyone in the family who is no longer living with you then you are in the position to benefit from downsizing.
Do you want to improve your mental health?
Here is the less expected question to ask yourself, but it is a crucial one for those who want to live a long and happy life. In recent years, the concept of “tiny homes” has been on the rise. Not only do these homes assist homeowners in reducing expenses, but in fact, they also help them improve their mental health. When you live in a home that only accommodates your needs, you will be less stressed about utilizing the unused space in your home. Additionally, with a smaller home, most individuals tend to spend more time outside when their living area is just that – for living. Lastly, downsizing equates to owning less stuff. The American belief that “things” help improve your life is a false belief – studies have actually proven that by reducing the amount of “stuff” you are attached too, the more satisfied and happier you can be in life. If you question this concept, think about the Buddhist mentality – letting go of everything to improve your life has been around for centuries, and now homeowners are adapting the concept to their everyday lives as well.
Are You Ready to Downsize?
If you have read these questions and identified a benefit to a potential change then it may be time to talk to a professional about your options. However, if you decide to sell, the process can be long and tedious (specifically if you work with a real estate agent.) So before you jump in and sell on the market, consider speaking with an all-cash buyer such as ourselves – Gulf State Homebuyers.
We buy homes in the Houston area for all cash at competitive prices. We close quickly and create opportunities for our clients to smoothly transition into their next phase of life. We buy homes as-is and in all conditions – this includes damaged homes and houses facing foreclosure. Plus, our process is simple!
If you want to learn more about how we can help you downsize, save money, and reduce stress, contact us today for a free consultation.