According to the AARP, more than 8000 Americans are turning 65 or older every day. An equal number of people are nearing retirement. These empty nesters aren’t the only people planning to downsize. The idea that you don’t need a three or four bedroom house to live in is gaining acceptance among a wider section of society. Downsizing certainly has its benefits. We’ve listed three:
It makes financial sense
A smaller house means a smaller mortgage. A smaller house also means lower utility bills. You can add to your retirement kitty by moving into an affordable neighborhood that offers all the necessary amenities. Some prefer to pay for a small house or apartment in cash and spend the leftover money on things they’ve always wanted to do.
It makes upkeep easy
Downsizing saves you the time and money you’d normally spend to maintain a big house. This is especially true for those with health-related issues. Cleaning and vacuuming are easier in smaller dwellings. And if you plan to move into a retirement community, you don’t have to worry about home maintenance at all!
It allows you to do things that you’ve always wanted to do
Downsizing gives you the freedom to choose where you’d like to live. You can take up residence in a place that is within walking distance of shops, restaurants, healthcare providers and cultural centers. You can choose to live close to your children to watch your grandchildren grow.
But downsizing isn’t easy; it needs a lot of planning. A lot depends on how much money you make from the sale of a larger home. Realtor fees, closing costs and pre-sale repairs can add up, making downsizing costly! If you are planning to downsize, contact us. We buy houses in Milwaukee, as-is, for cash. We also pay closing costs. Call us now for a free, no-obligation quote!