Think “bigger is better”? Not always the case! Whether you’re looking to save money and time, have a smaller carbon footprint, or simplify your lifestyle, you’re not alone — thousands of homeowners in Greater Philadelphia choose to downsize their home each year!
Of course, there are varying degrees of downsizing, and it certainly isn’t for everybody. While some folks take the plunge into a true “tiny house” (often defined as 500 square feet or less), most are more comfortable trading in their 4 bedroom, 2.5 bath Colonial for a convenient condo or cozy bungalow.
Empty nesters tend to be the largest group of clients wishing to downsize, although we work frequently with clients who are going through a divorce or simply wish to be more environmentally friendly and financially savvy. Whatever the reason may be, there are a few important questions to ask yourself before making the decision:
1. Does the size of my current home make sense for my lifestyle? Are there any unexpected life events that could require a larger home (such as “Boomerang” adult children)?
2. Is there anything I’ll miss about my bigger home? For example, hosting large family gatherings or out-of-town guests
3. Am I comfortable parting with many of my material items? If not, can I afford to rent a storage unit?
4. What will the true cost be of downsizing, and can I afford it? For example, purchasing petite furniture, and moving costs.
If you would like any assistance on your home buying journey, or if you’d like to talk to an EveryHome downsizing expert (yep, we have those!), give us a call at at 215-699-5555.