Buying To Downsize
Whatever your motivation for downsizing your home, the important point is that smaller can be better for your current situation. Your kids may have left home, you may be getting closer to retirement, or you want to consolidate and enjoy community living.
Here are some of the advantages of downsizing your home:
- Better cash flow. If your mortgage is lower you’ll have more disposable income to spend on other priorities. Alternatively, downsizing may let you go mortgage-free.
- More time. A smaller home needs less cleaning and maintenance.
- Smaller bills. It costs less or heat or cool a smaller home.
- Lock up and leave. A smaller home is easier to secure and leave if you want to head away.