5 Signs it Might Be Time to Downsize Your Home

Is your home too large for your current lifestyle? It may be the right time to downsize your home.

After living in the same place for a long time, it’s common for homeowners to experience changes to their daily life and situations that would prompt them to downsize to a smaller home that’s easier to take care of.

Should You Downsize Your Home? 5 Signs to Consider

While the need to downsize your home is a part of the homeownership journey, you may feel hesitant to make the change — even if it’s the right time to do so.

To help you get clear about whether or not downsizing is the best option for you, here are five signs that you should consider taking the steps to move into a smaller, more efficient home.

#1. You’re Approaching Retirement

One of the most common reasons why homeowners decide to downsize into smaller properties is because they’re approaching retirement age.

Down the line, it may not be comfortable for you to take care of a large property. From regular cleaning to landscaping and maintenance, the task list can become overwhelming.

Moving into a smaller place with less square footage can reduce the burden of taking care of a big house. By easing your workload, you get more time to enjoy retirement, spend time with family, and do what you love.

#2. The Kids No Longer Live at Home

Once the kids go away to college, the empty nest might feel too big for you. Rather than staying in a home that’s not ideal for you, downsizing may be a solution that helps you pave a new future that’s perfectly suited to your current needs.

Another reason why many adult homeowners downsize is that they no longer need the sprawling family home with multiple bedrooms. At this point, you may want the agility and freedom that comes with having a smaller property that’s easier to manage.

Besides children moving out, any life change that causes the number of people in your household to reduce can mean it’s time to downsize your home.

#3. You Plan to Travel More

Traveling when you have a large home with a big yard isn’t the most convenient. You have to worry about who will take care of your home while you’re away, or take extreme measures to prepare your property to be vacant for an extended period of time.

Whether for work or leisure, if you know that you’ll be traveling more in the future, it might be a signal to downsize. Consolidating your belongings and moving into a smaller home can help make your living conditions more flexible so it’s easier for you to pick up and go as needed.

#4. The Home Maintenance is Too Much for You

Are you spending too much time maintaining your home? Perhaps you’re spending hours cleaning, or your property requires extensive indoor and outdoor care to keep everything running smoothly. Whatever the case may be, you don’t want to feel rundown by your home.

Besides being time-consuming, maintaining a home can also be expensive. According to the National Association of Home Builders, the average cost of maintenance for a single-family home every year is between $950 to $9,820.

The NAHB study also noted that newer homes are less expensive to maintain, so if you move into a newer property that’s small enough to meet your needs, you may be able to save time and money on upkeep.

#5. You No Longer Want a Multistory Home

As we age and plan for the future, homes with multiple stories aren’t as attractive as they once were. You may not want to have to climb up and down stairs every day to reach your bedroom, especially if you plan on aging in place.

Multistory homes can also be more difficult to take care of than single-story homes with smaller floorplans. As you think about the years to come, deciding to downsize your current home may help set you up for a more comfortable future.

Connect with a Top Agent to Discuss Downsizing

If you think the right move is to downsize your home, your first step should be to speak with a professional.

Getting in touch with a real estate agent who has helped other homeowners in your area downsize into smaller, more manageable homes is the best way to ensure the process goes smoothly — and the outcome is aligned with your goals.

To find an experienced top agent who will be able to help you have a successful home sale and downsizing transition, use RealEstateAgents.com today!