Whether all the kids have moved out or you simply have rooms you aren’t using, it’s possible that your current house is too much home for your needs. Still, it can sometimes be hard to tell when your residence has outgrown its usefulness. Try these tips to help recognize the signs that it’s time to downsize into a smaller home better suited to your lifestyle.
Your housing expenses are up
If you’re struggling to make ends meet with rising bills tied to housing costs, it could be time to consider downsizing. The US National Housing Authority says that no more than 30% of your monthly income should go toward your housing budget. A drop in income from retirement or other financial changes can make it easy to blow past this recommendation and put a strain on your household budget. If too much of your income is going to housing, switching to a smaller home could free up some funds and improve your quality of life.
Home maintenance is becoming a burden
It takes a lot to maintain a home. Keeping up with landscaping and lawn care, minor repairs, and shoveling snow can become a burden for retirees. Even for younger homeowners, the demands of maintaining a large property can sometimes be overwhelming. If you’re finished with the hassle of maintaining your property, downsizing to a more manageable property can make life much easier.
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Your home is becoming dangerous or inconvenient
For seniors, the choice to downsize often comes down to the physical changes from aging. We would all prefer to spend our golden years in our own […]