Are you Ready to Downsize to a Smaller Home? | Brandon, FL Real Estate Agent

When we’re young, it seems like we’re always on the quest to buy a bigger and better house. It’s not uncommon to go from an apartment to a starter home. Then, eventually, you buy a fantastic house that fits your growing family and has room for your kids, guests, offices, and plenty of storage space. Maybe, now, it’s time to downsize to a smaller home.

As time has passed, you may find you’re an empty nester, and fewer family members are living at home. Or, perhaps, you have Marie Kondo-ed all your unwanted possessions and no longer need the storage space. If you’re wondering if it’s time to buy a smaller house, read on to find out when downsizing to a smaller home makes sense (we also did a great article on when to upsize last month, because sometimes that’s the right home solution)! 

When Should You Downsize to a Smaller Home? 

Your Kids Are Growing Up and Moving Out

One of the most common reasons to downsize is that the children have grown up and moved away. You have to decide— move to a smaller house or stay where you are. After all, many parents like having an extra bedroom. But extra bedrooms also mean more spaces to clean. 

No matter how soon you decide to downsize, remember you’re not just shopping for a smaller house. You can chase new dreams! You can buy a condo on the beach or in downtown Tampa or St. Petersburg, a townhome with great amenities, a small home with land, or a cozy home in a great neighborhood. In the Tampa Bay area, there are so many real estate options to choose from that can make downsizing appealing. 

You’re Not Utilizing All Your Space

It’s common to joke about using our garages to store everything except the car. But many people are decluttering and finding that they are happier with less. Over the past ten years, there has been a growing interest in minimalism across the country. Research has shown that we’ll be happier if we only keep what we need and find useful. 

But there are also many practical reasons to avoid hanging many unnecessary material possessions. For one, many of our hobbies – from gaming to reading to collecting movies – can be done digitally. We don’t need shelves and drawers to store them. Photos are more frequently stored on the cloud – not in boxes or photo albums. Files are electronic, so we don’t need huge filing cabinets. Plus, the more stuff we own, the more we have to organize, maintain, and clean. It’s no wonder people are opting out! 

But when your closets, spare room, and garage are practically empty, you may realize it’s time to downsize your living space too. Since you have fewer physical items, you may be just as happy in a smaller space. Plus, moving will be a breeze! 

You’re Retiring 

Are you ready to spend your days on the golf course or relaxing in your garden? You’ve worked hard all your life, and it’s finally time to enjoy your retirement. Downsizing to a smaller house can let you make the most of your retirement:

• Live anywhere you want.
• Stick to your fixed retirement budget with lower mortgage payments.
• Have less cleaning and maintenance to worry about as you age. 

As a retiree, you should be able to spend your golden years making memories with your loved ones, taking dream vacations, and starting interesting hobbies. Your new house may be smaller, but your future is brighter. 

You Want More Room in the Budget

Whether you’re retired, want to add to your savings, or need more wiggle room in the budget, depending on where you move, downsizing can significantly reduce your monthly mortgage payments. Smaller homes can come with a lower ticket price – so not only will you be spending less each month, but you might have money left over after the sale of your current home. Depending on your specific situation, you may be able to:

• Make a large downpayment on your new house – reducing your monthly payment even further.
• Keep the extra cash on hand for emergencies, home maintenance costs, or other expenses.
• Invest it so it grows! 

Is It Time for You to Downsize to a Smaller Home? 

Regardless of your main reason for downsizing, when the time is right, you’ll love the efficiency, cost-effectiveness, and convenience of living in a smaller house. If you’re ready to downsize, contact our team at Elena VIP Homes today. We are experts in assisting our clientele in Brandon, FL and the entire Tampa Bay area. We’ll help you find the (smaller) home of your dreams to start the next chapter of your life.