If your home has appreciated considerably, selling would afford you the opportunity to not only downsize your space, but also reduce your mortgage.
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Here are four signs that it may be time to downsize:
1. Retirement. Ever-increasing living expenses, coupled with people living longer today than ever before, force many retirees to think about cutting costs; the mortgage might be one such cost to consider.
2. Too much anxiety. Upkeep in and around the home, such as repairs, shoveling snow, and mowing the lawn, can wear on some homeowners to such an extent that living in that larger home is no longer worth the hassle and anxiety it brings.
3. Unused space. Do you feel like you’re being swallowed up by all the extra space in your home? Or are you cleaning rooms that really just go unused? This is a pretty recognizable sign that you should consider downsizing.
4. Money opportunities. It could be that your home has appreciated considerably, and selling would afford you the opportunity to not only downsize your space, but also reduce your mortgage. Or if you no longer wanted to have a mortgage, you’d have the opportunity to use the money in an entirely different way.
If you have any questions, you’re considering the possibility of downsizing, or would just like to speak with someone about what option is right for you, please don’t hesitate to give us a call. We’d love to assist you!