Many people are reaching the point in their lives when they need to decide where they want to retire, If you are at this stage you have several options to explore. One is moving into the multigenerational home with love ones or stay in your home. Multigenerational living is rising in popularity, but in not an option for everyone. Staying put is another option. The last one is downsizing to smaller home is a common trend as adults retire with fixed income and can be challenging.
This can be advantageous and a money saver. Many down-sizers expect to improve their retirement income stream if their new home cost less than their old home sells for. Lower utility cost, insurance and property taxes as well can also improve your bottom line.Just the thought of getting rid of many clothes and items can be depressing. Being attached to certain items will not help the situation, especially when it comes to larger items. Generally there are things you can live with and live without. Minimize duplication on certain items and make the best of storage locations in the house.
Another thought is to be scared of change, embarrassment over your new lifestyle or family dictating what you should do. Also the empty nest syndrome, which hits many parents. However some things just have to be accomplished. This can stir up many emotions, however there are financial benefits of taking such action. Let's face it, lifestyles changes making downsizing worthwhile. Downsizing is somewhat common amongst older people with no children left at home and some feel like their home does not fit their needs anymore. Realistically this saves money overall especially with inflation now since the 2019 pandemic that made prices on all goods go up 2022 and into 2023.
The major one is your utility bill, the less square footage to heat and cool will save you lot's of money. Less time to clean and upkeep with more time to enjoy your personal time. Truly consider the space you are really using on a daily basis. Then step back and evaluate situation. This tactic will reveal the truth on how you can use less space and be economically functional.
During this time you have the opportunity to pay off some bills and save plenty money and this could be your best option. Strong self discipline comes into play throughout this process. You will really see the results when you have a plan and stick to it Utility bills will be much less, you can do without cable with new technology with streaming online through multiple resources. Having a positive mindset and thinking long term on how these decisions can turn into a positive manner. So answer these questions, Does the current home fit our needs with empty nest? Do I need all of this space? How much housing expenses will I be saving downsizing to a smaller home?
Downsizing can be a mental factor in many ways. Departing with sentimental items, becoming detached from home and Moving with meeting new neighbors. If you are a homeowner getting ready for retirement, part of the transition likely includes deciding where you will live.
As for searching for Florida Real Estate, I am one of the finest Florida Realtor's you can find! So let's get started today and if you like additional information on what to look for on downsizing, feel free to contact me as your trusted advisor and professional realtor today at 850 496-6412 and Facebook Kevin Sells Florida and Kevin Sells Florida. Click here to learn more about Kevin Strawter /ABOUT-KEVIN-STRAWTER-P-A---MRP--GRI--ABR-6-14330.html
As a trusted advisor, professional realtor and military veteran I am here to serve you and always on the pulse of the housing market for the Dr Phillips and Central Florida area. Always stay in tuned, educated and connected in this volatile housing market to purchase or for the sale of your home. In the absence of trustworthy and up to date information whether it's a housing crisis or local housing market, real estate decisions are increasingly being driven by fear, uncertainty and doubt. We as trusted advisors drive the real estate community and always preaching the truth of real estate. I emphasize that education is a must for the community to ensure you are making the right decision. Don't let this shifting housing market delay your dreams, data reveals home values typically appreciate over time and that gives your net worth a nice boost. When you are getting help with a home, look for your realtor with the heart of a teacher. If you are ready to start your journey, contact me today at 850 496-6412 to help begin a new walk to home ownership and all your real estate needs.