Downsizing or Resizing? What's Your Next Move?

The other day I came across an awesome quote, "Aging is an Opportunity Not a Problem to be Solved! I thought to myself, what a positive refreshing way to look at being a baby boomer or a member of the SCC (senior citizen club). Like all stages in life one is experiencing it for the very first time, and each phase of life offers different challenges and rewards. One starts to wonder what the future will bring. As, a realtor I have had many conversations with clients about such topics especially concerning housing. Is it time to downsize? 

I find the concept of downsizing a bit misleading. It implies giving up something which is somewhat negative. I mean typically, homeowners don't sit around daydreaming about living in a smaller house!! So, I think resizing is a much more positive term. What do I mean by resizing. Simply put, it moving to a smaller home than the one you currently are living in. I like to compare resizing to buying your first home. It is exciting and scary at the same time. This is a big move. what if I don't like it?

The first decision to be made, is, is resizing right for me?  I suggest that one thinks of the following reasons  to consider  resizing before making a decision.

#1. If you have been in your current home for a while chances are it has likely increased in value.  You may have paid off your mortgage or have a very small morgage left. This means ,you can probably buy a smaller home for cash, and have money left over for your retirement. Keep in mind, the sale of the personal residence is tax free.

#2. Resizing to smaller home often results in lower property taxes, utilities and home maintenance.

#3. Choosing to resize is eco-friendlier. The environment will thank you,  as a smaller requires less energy for lighting, heating and air conditioning. Living small is the new living large.

#4. A smaller home can be designed with aging in mind. Wider doorways, walk-showers, enhanced security and don't forget NO stairs to fall or trip on. These things will help reduce the stress of aging and keep you more comfortable.

#5. Resizing can free up time and money that can be used for travel,hobbies or new activities. It is an opportunity to get rid of clutter. It can be a fresh start in a modern, easily maintained home equipped with conveniences and luxuries you have worked for. 

This is your time. If resizing is in your future, give me a call. As a  Certified Relocation Transition Specialist, I have the experience and expertise to help make this smooth transition.