4 Perks That Come With Downsizing and Smaller Living

If you have recently become an empty nester, you may be considering downsizing your living space. Here’s what it means to downsize and everything you need to know about moving into a smaller space.

Have your kids recently moved out of your home, making you an empty nester? Is your house becoming more expensive and harder to manage? When it comes to homes, bigger isn’t always better, and that’s certainly true if your large space no longer fits your circumstances.


You may want to consider downsizing if you’re:

  • Having financial struggles
  • Finding it difficult to move around your current space
  • An empty nester with too much empty and unused living space
  • Considering changing your lifestyle

4 SIGNS YOU SHOULD CONSIDER DOWNSIZING

 

Our Real Estate Agents Can Help You Find Your New Dream Home

Downsizing and finding a new home that suits your changing lifestyle is no easy feat! Luckily our team of Calgary realtors have over 40 years of experience in the industry and can guide you through this big transition. Whatever your needs, we help you navigate any complexities so you can focus on enjoying this new stage of your life.

Want to know more?

CONTACT OUR CALGARY REAL ESTATE AGENTS

 

What Does Downsizing Mean? The Perks that Come With Smaller Living

If you have recently become an empty nester and you’re feeling anxious at the thought of downsizing, remember: downsizing is not a call for you to drop everything and buy a tiny house! Rather it is the realization that you don’t need so much space anymore and it’s time to cut back on square footage and possessions.

If you are ready to cut down on your living space, here’s what downsizing could mean for you:

1. You’ll Have Less Space in Exchange For Lower Housing Costs

For most clients, choosing a home is about what makes the most sense for their situation. Typically for downsizing, people are looking to buy a home that is a little more manageable and that requires less maintenance and fewer repairs.

As you get older, you may be faced with numerous financial responsibilities such as:

  • College fees
  • General home maintenance
  • Hidden housing costs

A smaller home could mean a huge break to your bank account and cut the costs eating away at your paycheck every month, so you can enjoy more financial freedom.

2. You’ll Be Able to Pay Off Your Mortgage Faster

Downsizing to a smaller space means less time and money spent on a mortgage. Once you sell your current home, you’ll be able to use the proceeds to buy a smaller one. This way, you’ll make a profit through downsizing and then afford to either pay in cash or provide a larger down payment for your new home.

3. You’ll Be Able to Build Your Retirement Fund Faster

The money saved on a smaller home and lower housing costs can go towards your retirement savings. Jumpstart these savings with the extra money you’ll gain from a smaller mortgage or additional proceeds from your home sale.

4. You Can Say Goodbye to Big Bills

There is no escaping that a bigger house has more upkeep - there’s more maintenance and cleaning, so if you downsize, expect to spend less time with such chores! In addition, you’ll be able to see goodbye to high:

  • Home maintenance costs
  • Heating bills
  • Water bills
  • Home repair costs

With a smaller home, fewer rooms and bathrooms, you’ll be able to cut your costs almost in half and enjoy the incredible savings.

 

Call Today

With over 40 years of real estate experience, the Mel Star team in Calgary can help you find your dream home, no matter your needs, lifestyle, and specific preferences.

To find out more about how we can help you transition into your new home smoothly and quickly, contact us at (403) 284-6333, fill in our contact form or visit in person at 206-2411 4 St NW, Calgary, AB T2M 2Z8.

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