Downsizing & Rightsizing (Part 1 of 4)
True Empathy and Knowledge Comes from Personal Experience
Recently, Karen and her husband made the choice to downsize. As a realtor, Karen has helped many people do the same, but there was several unique and helpful revelations that she discovered while going through it herself. It’s true what they say, “personal experience is the best teacher!”
Karen and her team have created a Four Part Blog Series dedicated to Downsizing and Rightsizing. You can also visit her website for a new special section filled with helpful advice and resources.
Also of note, Karen will be producing a Downsizing Rightsizing Seminar on May 7th . There will be information presented from a Financial Planner, a Professional Organizer, Lender, and of course Karen. There will be entertainment along with food and drinks after the presentation. Please join us. Contact Karen to reserve your space
today.
Thinking of Downsizing?
Downsizing or Rightsizing (the term now more commonly used) is something that many homeowners have already or will soon think about. In fact, millions of Americans are approaching retirement and this group of “empty nesters” are entertaining the concept and making the move every single day. The Tiny House trend has also contributed to how everyone looks at space.
We’re also seeing a trend among families that are rethinking the idea of how much space is right for them and their families. Hence the term rightsizing. What makes sense? What size of house would make your life easier, better and gives you more control?
If you’re embracing, or beginning to embrace the idea of downsizing or rightsizing, or if you are just curious to learn more, Karen’s team will explore all aspects of downsizing including what are some of the perceptions, realities and obstacles.
So what does the idea of Downsizing and Rightsizing actually mean to you?
Current statistics show that most people are spending 50% of their income on their home cost. The reality is “Home Cost” is way more than your monthly mortgage. It also includes insurance, taxes, utilities, furnishings, and the long, painful cycle of home maintenance. So today’s modern money pit saga has lots of homeowners, proclaiming…” the good news is we got our dream house! The bad news is paying for it is killing us! “
In this blog, let’s look at some of the realities of living with a big home, and then look at some of the tangible benefits to downsizing.
Realities
Bigger Home = Bigger Mortgage + More Maintenance
Upkeep on a big home can be well…big. More square footage, means more to replace and repair. Roof, gutters, windows on the outside. Flooring, appliances, countertops, toilets and sinks the list is seemingly never ending.
Air Conditioning Electric Bills in Atlanta alone are frightening. A lot of people sign up for auto pay because they simply do not want to know, what they are paying. Then there’s just the cleaning and care. It’s often said, you get through the entire house and it’s time to begin all over again.
Benefits
There are many benefits to downsizing, but here are two of the more powerful.
The Freedom that Comes With Free and Clear
FACT: Most of us pay a mortgage for most of our lives. The amount of interest for the life(s) of the mortgage can be staggering. Go to this Amortization Calculator and run your numbers. First you should sit down. Maybe you should also pour a strong drink.
More Time and Money to Do as You Choose
This old adage time is money is completely true. However, money is time is also true. This benefit alone is what is persuading people to strongly consider downsizing, and is often the determining factor first time homebuyers cite as a price point guide for choosing a home.
Please check back for more installments on Downsizing and Rightsizing including questions to get in touch with what will being you peace and joy. Contact Karen, your North Atlanta Realtor, for any and all things related to North Atlanta Real Estate.
