A lot of people equate purchasing a bigger home to moving up in life. But that’s not true. Many American families have a lot of opportunity for downsizing their houses without the need to cramp up their style.
Think about the numbers. The average size of a new single family house is almost 2,500 square feet. You might think that it’s not all that big until you find out how big homes are in the past. According to history books, the average size of a home back in 1975 was nearly 1,000 square feet less than the average size of homes these days. Plus, the families were way bigger back then. If you consider those standards, then people these days are definitely living large.
Some people think that downsizing is a step down. But if you look at it closely, you’ll see that it comes with several benefits like getting rid of clutter, saving time, and money, too. Professional organizers say that downsizing could very well be the fresh start that you and your family have been wanted to have.
Money Advantages of Downsizing
If you’re still not convinced, here are the financial benefits of downsizing. If you are doing all you can to get out of debt, downsizing may help you pay it off sooner. Downsizing can help you reduce your debt by $500 per month.
Once you’re free of debt and you already have a fully funded emergency fund, the next thing you can do is to build your wealth for your future. You should consider investing 15% on your retirement plans. If you are still working to get to that 15% then downsizing may provide you with the financial push that you need.
By downsizing, you can trade off the house with a mortgage to a home that’s been fully paid. Why don’t you use the proceeds that you get from selling your bigger house to purchase a smaller one? Your finances will be in a much better shape if you don’t have any mortgage to pay.
The Proper Way of Downsizing
Consider your long term goals – if you’re considering downsizing your home, you’ll have higher chances of success if you plan ahead. Do you need more space for your small business? Or do you have more than enough room now that your kids are in college? You’re the only one who knows if you need that extra space or not.
Keep the space functional – You should sell the things that still can be used and save the proceeds. You can also donate it to charity to enjoy the tax benefit.
Think about the hidden costs – You can save on your monthly mortgage payments by downsizing. Plus, having a large house means home repairs and maintenance.
Consider the big picture – Having a smaller home also means you get to see your family more and spend time with them instead of staying in different rooms. Having a smaller home may just be what you need to spend quality time with your loved ones.
Ready to Downsize? We’ll Show You Where to Start.
Downsizing might not make sense in every situation, but it’s worth a look if you really like the idea of saving money and simplifying your life. Ask an experienced real estate agent to help you determine what your home is worth and show you options for cutting costs.
Brunswick Organizing Solutions can simplify the downsizing process. Our team will:
- Work with you to sort through your belongings
- Box items for a local charity
- Box items you want to give to family members
- Mark items for a yard sale
- Then properly pack, label and inventory the items you want to move
Call Brunswick Organizing Solutions now and let our professional organizers help you downsize.
Brunswick Organizing Solutions
Shallotte, NC 28470
Brunswick Organizing Solutions
Myrtle Beach, SC 29577
Leland, Wilmington, Shallotte, North Myrtle Beach, Myrtle Beach, Southport, Bolivia, St. James, Oak Island, Ocean Isle Beach, Sunset Beach, Carolina Shores, Calabash, Castle Hayne, Burgaw – Brunswick and Horry County