Is Downsizing Right For You?
If you think moving up in life means buying a bigger home, it’s time to set the record straight. Most American families have plenty of room to downsize their home without cramping their style.
Consider the numbers: The average new single-family home comes in at nearly 2,300 square feet, according to National Association of Realtors. You may not think that’s all too big until you look back at history. The National Association of Realtors also reports that the average home size in 1950 was less than 1,000 square feet—and families were bigger back then. By those standards, today’s homeowners are living large!
Moving into a smaller home may feel like a step down, but a closer look reveals quite a few upsides. Are you ready to find out if downsizing is right for you?
Downsizing Your Home: Less Is More
One question always comes up when downsizing: “Where will I put all my stuff?” Here are a few ideas: your neighborhood yard sale, thrift store, eBay, or Craigslist. That’s right—sell it and take that money to the bank, baby!
Downsizing your square footage might mean your family has to gather around one TV at night instead of spreading out across three or four different rooms (Gasp!). But is more time with the ones you love really all that bad? It just might be the kick in the pants you need to spend more quality time together!
Sure, a smaller home means less space, but it also means less time, stress and money spent on upkeep. Minimal maintenance is definitely an upside to not living large. After all, the time and money you used to spend on cleaning and upkeep can now go toward fun things. That's why some people see downsizing as a step forward, not backward. If you’re thinking less space is the place, you're not alone.
HOW YOU KNOW IT'S TIME TO DOWNSIZE
Choosing less space often has to do with a desire to live simpler, whether you're retiring or just want an eco-friendly, low-maintenance lifestyle.
Many adults 55 and older are leaving the suburbs behind and moving into condos or lofts in downtown areas. Not only are these homes easier to maintain, but they are also in walkable neighborhoods with easy access to amenities such as culture, restaurants and nightlife.
Sometimes the choice to downsize isn't actually a choice. Some life events, such as a divorce or unemployment, are unexpected and force you to find a smaller home for financial reasons.
We help property owners sell your Milwaukee home fast, in all kinds of situations. From divorce, foreclosure, death of a family member, burdensome rental property, and all kinds of other situations.
WHAT TO CONSIDER BEFORE DOWNSIZING?
Does size matter to me?
Think about how much your identity is wrapped up in your house. For most of us, where we live not only fulfills our need for shelter but also tells the world who we are. Moving to a smaller home goes against ingrained conventional thinking that "bigger is better".
In many different ways we are being pushed to live super-sized lives. From fries and drinks to monster trucks and homes, big is in.
To downsize voluntarily seems to go against not only our culture but also against our human nature. We have been conditioned to believe that happiness is found in things, and if you want to be really happy you need to accumulate many things.
Will I miss some important things about a more spacious home?
Ask yourself: Will moving into smaller digs feel like a step forward, because I'm living more environmentally friendly and simplifying my life? Or will it feel like a step backward? Moving into a smaller house can be “amazingly freeing.” It’s great how much more time you have to do what you want to do.
How will other life events affect my living in a smaller home?
As you look for a new home, make sure it fulfills your physical and emotional needs as well as your financial ones. Just because you can find a bargain doesn't mean the home is worth it. After all, if you're going to make the effort to move, you should do it right.
THE COST TO YOU
It seems simple enough: you’re going to spend less than you would for a larger house, so the only financial consideration is, do you like to have more money?
Answer: Yes. Not so fast. It’s easy to forget that fewer rooms will mean less space for all of your stuff, and it's even easier to forget that that might cost you money.
How much will it cost to replace the furniture? “When moving to a smaller home, even furniture needs to be downsized, So if you have furniture that’s too large for some of your rooms -- that king-sized bed may not fit comfortably in a bedroom made for a prince -- you may feel obliged to get rid of the bed and buy something else.
Smaller furniture costs less than larger pieces, so that will be a relief to one’s bank account. Still, if you’re spending a lot of money to replace furniture in order to save money eventually, you may start to wonder, “Why am I making this move again?”
THE HOUSE FOR YOU
Downsizing frees you from the cost and time commitment of maintaining a home that’s simply too large. It allows you to unlock your home equity, buy a new place and maybe even retire your mortgage.
When it comes to home style or architecture, the lower the maintenance, the better. Stay away from Victorians, Arts and Crafts or other styles that may require extensive renovations and major upkeep. Keep it simple. Ranchers and bungalows are your best bet for low-key living.
Perhaps a better strategy would be to move into a rental without selling your home. Your rental income may actually cover the cost you are paying for rent. If you do not want to worry about the logistics, you can hire a property manager to take care of everything for you. You could even stay in your home and rent out the second floor or back half of the house. This both increases your income, and shrinks the amount of square footage you need to take care of.
We are the Company That Buys Houses For Cash in Milwaukee, Wisconsin and all surrounding counties!
We help property owners just like you sell your Milwaukee home fast, in all kinds of situations. From divorce, foreclosure, death of a family member, burdensome rental property, and all kinds of other situations. We buy houses in Milwaukee Wisconsin and surrounding areas. Sometimes, those who own property simply have lives that are too busy to take the time to do all of things that typically need to be done to prepare a house to sell on the market… if that describes you, just let us know about the property you’d like to be rid of and sell your house fast in Milwaukee Wisconsin for cash.
If you prefer to talk to someone in our office before submitting your property information just give us a call today at 414-375-9091.
Whether you’re ready to sell your house today, or you’d just like a little more information about the process, give us a call at or contact us through our website form. With just some general information about your property, we can schedule a time for a visit and evaluate your home to present a free, no-obligation cash offer to purchase your home Fast for Cash!