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Here are some considerations to take into account before you downsize your home.

Perhaps you’re a parent whose children have all flown the nest. Perhaps you’re retired and are looking for a small place to live while you take off on your travels. Perhaps, quite simply, the maintenance of a larger home is just not for you. With the size of the average home in the U.S. bigger than ever, many owners are finding themselves living in spaces that are larger than what they want or need.

When is the best time to downsize?

In short, there is no right or wrong time to downsize. However, people often decide to move into a smaller home when their children have grown up and left home, and perhaps the parents no longer need the large property with the extra bedrooms.

Another popular time to downsize is at retirement age when many people find themselves asset rich and cash poor. Selling the home frees up extra funds so that they have leftover cash after buying a smaller, less expensive property.

What to Consider

Think carefully about how much you would miss the extra space. Perhaps your current property is too much space for you to manage, from cleaning the rooms to tending to the garden. Write down a list of important things you miss about living in a spacious home. If you feel that the bigger property takes up too much of your time through upkeep and you don’t truly need that much space, downsizing may be a viable option.

Additionally, you’ll want to consider the costs. Along with selling and buying property, you’ll need to weigh up the costs of selling your furniture, buying new pieces, and perhaps living further away from where you need to be. Weighing up the pros and cons will help you to make the right decision moving forward.

Whether you need to buy or sell a property in San Diego, California, the real estate professionals at Jenn Blake Real Estate Group can help! Visit us today or call us on 858.663.6788.