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Pelican Real Estate Newsletter
January 2015 Century 21 Blue Marlin Pelican | info@21bmp.com

3 Things to Think About Before Downsizing

Downsizing is a personal choice that many people face as children move out of the house. This often leaves a couple alone in a home that is bigger than they need. The benefits of living in a smaller home are many, but there are also drawbacks. Here are some important questions that will help to determine whether a smaller home is the answer.

1. How much will it cost? 
While a smaller house will often mean lower mortgage payments, taxes and utility bills, this does not represent the total cost of downsizing. One of the side effects of a smaller home is less space. This could mean renting a storage space for things that can not be easily sold or discarded. Hidden costs such as replacing furniture and homeowners/condo fees also exist.

2. What affect will downsizing have on others?
Most people who are considering downsizing are doing so because a large home no longer fits their current lifestyle. This usually happens when children have moved out, which leaves a lot of extra space in the home. In today's economy, it is not uncommon to have "yo-yo" children. Will the new, downsized home, be able to accommodate these children who move in and out multiple times before they get on their feet? 

3. Is downsizing a long-term solution? 
Will you need to provide care for an aging parent or will you or someone in your family face a health crisis? Just because a home is smaller does not mean that it is amenable to handling specific needs. Wide doorways to accommodate walkers and wheelchairs as well as a first floor bedroom and easy to reach cabinets should be considered. Without these, a home could need extensive remodeling.

Century 21 Blue Marlin Pelican, 42 Business Centre Dr. Suite 106, Miramar Beach FL 32550
The material in this publication is provided for your informational purpose only and is not intended to substitute professional advice. If your property is currently listed with a Real Estate Broker, this publication is not intended as a solicitation.

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