Monday, July 12, 2021 / by John Salkowski
Here’s when you know it’s time to downsize.
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Here are the top six signs it may be time for you to downsize:
1. Retirement. Are you planning on retiring soon? If so, it may be a good time to consider selling your property and downsizing into something more manageable.
2. You have too much house. In other words, you don’t live in the entire property anymore—you only live in a few rooms and the rest stay unused while you keep their doors shut to keep the heat or air conditioning out.
3. There’s too much upkeep. Does it take a lot of time and resources to maintain your property? At that point, you’ll know it’s time to downsize.
"If your home is paid off and, more importantly, well-maintained and updated, now’s the time to downsize."
4. You’re worried about maintenance issues. Downsizing can spare you the constant worry over whether the roof is leaking or an appliance is dying and not being sure where you’ll find the financial resources to fix these kinds of things.
5. Your home is getting away from you. Is there a lot of deferred maintenance, rot around the exterior, or overgrown landscaping? Are you letting your property go because you don’t have the financial resources to handle it anymore?
6. You have a ton of equity. If your home is paid off and, more importantly, well-maintained and updated, now’s the time to downsize.
As always, if you have questions about this or any real estate topic, don’t hesitate to reach out to me or anyone on my team. We’re here to help.