How to Know When You’re Ready to Downsize

family homeDownsizing is the new American dream.

The kids are off at college or maybe even starting families of their own and the house seems…empty. There’s no surefire way to know it’s time to downsize but many of our clients tell us they had hints long before they decided to take the leap to a smaller place.

If you’re experiencing any of the following signs or simply want to talk to us about what downsizing really means for you, call On the Move Charlotte today for some helpful guidance.

Rooms Are Just Gathering Dust

Do you have rooms (or even a whole floor?) that’s sole purpose seems to be raising your AC bill and getting dusty? Whether its a rec room, a full-basement, or simply too much outdoor space, when your home’s too big for your needs it can feel overwhelming to keep it good shape. If you feel like you spend more time taking care of your home than actually enjoying it, you may be ready to downsize.

travel

You Spend a Lot of Time on the Road

Maybe your kids live in different states or perhaps you and your spouse just love to travel now that work is winding down. If you’re having a hard time justifying such a big home when you’re out of town most of the time it may be the right moment to consider a smaller, less expensive place.

The Mortgage is Paid Off

Perhaps you’re one of those rare people who paid off their mortgage before it was due, or maybe you’ve lived in your home for decades! Whatever the case, if your home is mortgage-free you may co
nsider downsizing to something worth less to have some extra cash on hand for travel, the grandkids’ college fund, or maybe that boat you’ve always wanted.

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You Want to be Closer to the Action

Maybe your family home is in the suburbs and you’ve got your heart set on a small condo closer to town. Downsizing doesn’t necessarily mean a less expensive home but it can mean a smaller place in a more-desirable location. If your needs and wants have changed greatly in the last few years, maybe it’s time to downsize.

You’re in a Seller’s Market

Many neighborhoods in Charlotte are experiencing an extreme seller’s market right now due to incredibly low inventory. If you’re thinking of selling your home in the next few years, even if it needs work, you’re likely to get a better price for it now than if you wait. Downsizing is all the more appealing when it makes financial sense.

 

A few more things to consider when you’re talking about downsizing:
Do you want to sell your furniture with your home?
Do you want to buy more than one smaller property, maybe in different cities?
What do you love now that you can’t live without?

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Talk to a Realtor about what downsizing may actually mean for you. Now’s a great time to be thinking smaller in the Charlotte market and it’s also the perfect time to sell!

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