Many older homeowners have a strong emotional attachment to their family home. It holds many memories from a lifetime of raising children. But the truth is that it can also feel very empty and overwhelming at times. Cleaning and maintain a large home takes work, time and money. But aside from the emotional value, there are many reasons to consider selling a larger home.
As you get closer to retirement, you hope that you have been able to sufficiently save for that golden time of your life. But in many cases, household expenses and children’s needs were addressed before retirement savings. With that all behind you, it is a good time to consider downsizing you home to boost your retirement savings and simplify your life. Less home to maintain will give you more time and money to enjoy your retirement and the years leading up to it.
Along with a lower mortgage, a smaller house will also offer you smaller bills for utilities. You will find heating and cooling a smaller home to be much more affordable. In addition, a newer home would have even more energy efficient benefits. Newer windows and doors and more energy conscious building materials will save even more on heating and cooling. In addition to reducing monthly bills, a smaller home will reduce the cost of your property taxes and your home owners insurance. Though you might not see a huge savings on a monthly basis, it’s important to consider all of the savings over the course of each year of homeownership.
Maybe you have always wanted to travel the world but didn’t have the time or the money. But the sale of a larger home will allow you to convert the perceived equity into cash. Now you can plan those trips, explore new hobbies and enjoy more activities that were once out of reach. In short, you can use the money to improve your quality of life. You will find that at this point in your life, you want to spend less time sitting at home and more time out enjoying life. You will have the time and money to allow you to spend more time with family and friends.
At first, facing an empty nest can seem to be a sad experience, but it is really an opportunity to begin the next chapter of your life. In this chapter, you are not saddled with the expenses of maintaining a large house or the time needed to care for it. You can live a comfortable lifestyle in a smaller home that allows you to begin to explore the rest of the world. Travel, activities and adventure is all now possible. Contact Phoenix Home Buyers Group to learn about your options for selling your large family home and purchasing a cozy home that meets your needs at this time in your life. Deciding to make the move will reduce your stress and offer you opportunities that might have passed you by.