Has your current home been feeling too big lately? You may be ready to consider downsizing, and you have plenty of options.
Moving into a smaller living space comes with a variety of benefits, including saving money on upkeep and maintenance and increasing your peace of mind. Smaller homes usually cost less money to maintain — for example, heating and cooling bills are generally less. Smaller houses are also often easier to clean. For many homeowners, that can be a huge relief.
Whether you’re empty nesters now that your kids have gone to college, you’re on the verge of retirement or you’re simply craving a smaller home, here are four great downsizing options to consider.
1. Rent a Smaller House
If you’re looking to downsize and free yourself from a hefty mortgage, renting a smaller home is an excellent choice. When you rent a house, you take on less responsibility. This helps relieve stress and increase your quality of life. If you’re in an in-between part of your life, renting a small place is the perfect way to take your time in making your next move.
2. Move to an Apartment
If you currently live in a house of your own and are looking to downsize, moving to an apartment is a great option. You can either rent or buy apartments. Your decision here should depend on how long you wish to live in your selected location. Apartments require less maintenance than homes, and your apartment building might even offer a cleaning service. Apartments are small, safe and perfect for couples.
3. Buy a Smaller Home
If you’re dreaming of selling your current home and buying something more modest, then follow that dream! Of all the downsizing options, this is perhaps the most appealing. By selling your present house and purchasing one that’s not so big, you will make a smart investment and have money left over to spare. Also, if you’ve been wanting to live in a different area, you may be more likely able to afford your piece of prime real estate.
4. Consider Retirement Villages
If retirement is on the horizon for you, looking into retirement villages might be ideal. These locations often come with security, a gated entrance and units that are the perfect size for just you, or you and your spouse. Retirement villages feature many helpful amenities and services as well, so you won’t have to worry about traveling too far from your home or keeping it up to date.
We’re Here to Help
If you have any questions about your downsizing options, contact us today. At CENTURY 21 Core Partners, we’re all about helping you find your perfect home.