If you, like many others, are considering downsizing for one reason or another, and you aren’t certain you are ready for such a bold move, there are a few things to consider. Perhaps you are holding on due to sentimentality, as this was the home in which you created many wonderful memories, or perhaps you are holding on for more practical reasons, and you hadn’t thought of downsizing before this, or how it could benefit you.
Here are five sure signs that you are definitely ready to downsize:
1. The Empty Nest.
Many homeowners bought large homes when their children were small, and after their children are grown and gone, they don’t need the space anymore. There may not be as many young families in need of large homes anymore, but the ones that are would be happy to use the same space as you did to make their memories.
2. There are rooms you only enter to clean.
When there are rooms that you only enter monthly to dust, rooms that haven’t been used or enjoyed in years, you are wasting your time, money and energy on that room — time, money and energy that could be better spent elsewhere.
3. You can’t believe how much that person just said your house could sell for.
If your friend or neighbour is selling their home, they may comment that they think your home would sell for far more money than you could have imagined, and with the markets lately, it’s likely that they are right. If you have even been considering downsizing, it is worth it to get a Realtor in to assess the potential value your home has.
4. You’d rather have… something else.
Something like a bungalow, or easier access to different areas of your city, etc.
That three storey Victorian you fell in love with years ago has served you well, but… three storeys means three sets of stairs. It is definitely time to downsize if you are already starting to dread what those stairs will feel like in 2, 5, or 10 years.
Perhaps your home was in the ideal location for you to get to work without partaking in rush hour traffic, or it was serviced by the school that you felt would be best for your children. If those considerations are no longer a priority for you, and the gym, church, or club you wanted to join in a different neighbourhood are, then perhaps downsizing and discussing a change of neighbourhood with your Realtor would be a good place to start.
5. Less work — both yardwork and housework.
You don’t use the swing set, your tiny dog is nowhere near as energetic as the bigger dogs you once had, and you don’t want to have to mow your huge lawn ever again, or shovel the snow out of that driveway yourself, either.
It’s time, isn’t it?
The costs involved in owning a large house are growing by the year, and the housing market is booming, but won’t be forever. Call a local Realtor today, even if you haven’t made your final decision on whether or not to downsize.
Above all, remember that while your large house is where you built all of your memories, a house is just a building. Those memories will go with you when you move to a more convenient home.