Homeowners choose to buy a smaller home—or downsize from their existing home—for a number of reasons. Sometimes, some are motivated to downsize because they believe “less is more.”
Though our society tends to hold that “bigger is better,” it can be worth considering whether a smaller home would actually serve you and suit your lifestyle.
Advantages of Downsizing in Scottsdale
Many people have attested to many benefits of downsizing. Here is why downsizing in Scottsdale is a good idea:
Improved cash flow
With less money spent on your mortgage payment, you will likely have money left over each month to allocate to other needs and desires. The proceeds from your existing home might be used to buy a smaller home.
Less utilities to pay
Downsizing Your Home the Right Way
To make sure your downsizing dream doesn’t become a costly mistake, here are a few tips.
Take a Long-Term View
If you’re thinking of downsizing your house, plan ahead to make the process easier. Is your home business going to require more space? Did you have plenty of room to spare after the kids left for college? Only you are able to decide if losing that extra space would be more trouble than it’s worth.
Keep Your New Space Functional
Remember when your entire life fit into your dorm room back in college? All the things you needed were within reach. Keeping those closets clutter-free can still benefit you, even if it isn’t practical these days. Make money by selling what you don’t need.
Take into Account Hidden Costs
Although downsizing might save you money on your monthly mortgage payments, what about the hidden costs? Is your home in need of any repairs so that it can be sold? Will your old furniture and appliances fit into the small space, or do you need to bump up your budget for more space-saving pieces?
Remember to factor in costs such as moving, taxes, storage, and even higher homeowner association fees. Depending on your situation, moving to a smaller space may save you a lot of money—or you may be able to save money by staying put.
Keep an Eye on the Big Picture
A smaller square footage might mean your family has to gather around a single TV at night instead of being spread out across three or four rooms. Is that really all that bad? Maybe this will motivate you to spend more quality time together.
Downsizing might not be the best option in every circumstance, but it may make sense if you’d like to save money and simplify your life. Follow our handy guide into planning for downsizing, and when you’re ready, consider selling your home to a cash home buyer so you can start your change of lifestyle right away.
We’ll Take Your Home Off Your Hands
Are you asking yourself, “How do I sell my house fast in Scottsdale?” We at United Home Offer can help. We buy houses in Scottsdale, AZ at their current condition and using a straightforward process so you can get your money fast.
Book your appointment with us today if you want to sell your home fast. You will receive a cash offer on the spot after we view your property. We have a fast turnaround time, so you can have the property off your hands and cash in your pocket in no time.
Get started with an appointment by calling us today at (214) 817-4224.