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Is Now the Time to Downsize Your Home?


What are some signs that it might be time to downsize? Today I’ll cover a few key indicators.

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When is the right time to downsize your home? Here are four good indicators that it’s time to sell your home and move into a smaller one:

1. You’ve retired. Retirement is one of the most common reasons why homeowners consider downsizing. With savings not lasting as long as most retirees expect due to retirees living longer with increased costs of living, downsizing sounds like a great option.

2. You have too much anxiety. Whether your anxiety is brought on by the work it takes to maintain the home or by other factors, once your home begins causing you stress, it might be time to think of downsizing. Oftentimes as people age, they find that it’s much harder to care for their home than it used to be. If one spouse passes on and the other is left paying all the bills and taking care of everything, it becomes hard to continue in a large home. If your home is becoming a bit unmanageable, think about downsizing.


If your home is becoming a bit unmanageable, think about downsizing.


3. You have unused space. If you have more space than you can easily use, then it may be time to downsize. Unused rooms still need to be cleaned, and they tend to collect dust and junk, so it could be a good idea to find a more manageable place to live. You could trade your home with unused space for a place that has worthwhile amenities that you can use often and enjoy more.

4. There are good money opportunities. If your home has appreciated a lot and the money is right in your neighborhood, consider downsizing and buying a nice condo with the money from your sale.

If you have questions about downsizing your home or if you have another topic that you’d like me to address, give us a call or send us an email. We look forward to hearing from you!

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Our agents write often to give you the latest insights on owning a home or property in the Essex, Morris and Union County area.