Downsizing is not a dirty word! And while some people dread the very sound of it, for those that have taken the plunge, it’s been the greatest decision they’ve ever made. Sure, there’s work involved in getting the sale of the family home underway, and for some the sentimental attachment to their castle is a compelling reason to stay put, but there’s just so much more living to do when you’ve got money in your pocket. Just take a look at our top reasons to downsize!
#1 Downsizing can Save $$$
It might seem obvious, but downsizing is going to save you some serious coin. Sure, there are costs associated with putting your home on the market, but overall you’ll gain a great wad of usable cash that you can start wondering how to splash. Depending on the type of downsizing change you make, you can strike a whole bunch of yucky costs right out of your budget. Think about it – property maintenance just gets more and more onerous as time goes on. There are fences to mend and gardeners to pay, water heaters to fix and the rest of it. Free yourself from the burden of keeping the house habitable, and you’ve got what comes next…
#2 Liquid gold
Once you’ve got liquid cash in your bank account, you can let your imagination run a little wild. Been holding back on that motorbike? No need! Want to take that trip to Europe? Call the agent now! Having access to money is probably the greatest gift you can give yourself once the hard years of working are over. Of course you don’t have to spend it all at once (maybe hold off on the gold plated Maserati), but doing things you only dreamed of while the kids were younger is now your reality. Take the plunge, sign up for classes, go on cruises, dine out and all the rest of it!
Give the lawnmower away and tell your pool guy ‘it’s been great but…’ Downsizing to a smaller home means that you’ve got all the time in the world to pursue your interests without the obligation to keep everything else ticking over. Even go one step further and get someone in to help out in the new place! Once work is out of the way you can really drill down on what you love to do and make time for it – be that seeing the grandkids, playing tennis or just sitting on a lounge chair. One retiree we know of loves golf so much he bought a townhouse that backs onto a green – just to cut down on time wasted driving to the course!
#4 Location location!
Which brings us to one of downsizing’s greatest gifts – the ability to relocate. Like a feather on the breeze you can pick up and lift off, setting down wherever takes your fancy. Whether it’s the sea or the trees that beckon, you now have the ability to decide where you most want to roam. It’s the freedom to choose your location destiny that makes downsizing such a sweet prospect.