You Ask, We Answer: How Do I Know It’s Time to Downsize?
Your Connecticut home has served you well over the years. You’ve made countless memories within those walls and made seemingly endless improvements both large and small to make your abode yours—but lately, you’re wondering if perhaps there isn’t an easier way of living in your future. If you’ve been mulling over whether or not a smaller home might make your life easier, keep reading. Here are our top things to discuss with your Calcagni Real Estate agent to know if it’s time to downsize your Connecticut home.
Too much home maintenance
If your current Connecticut home feels less like a beloved place to rest your head and more like a never-ending list of “to do’s,” you may be in the market to downsize. From keeping up with mowing the lawn in the spring and summer to raking leaves and shoveling snow in the fall and winter, home maintenance can become increasingly more challenging as we age–and that doesn’t even take into account all the home maintenance that happens indoors, as well! If tasks are taking longer and feel as though they’re becoming daunting to accomplish, moving to a smaller space like a condo, apartment, or smaller house may be in your future.
In addition to the home size, however, it’s important to consider the age of the home. Older homes, while they often boast charming details, can carry a high burden of maintenance to keep them functioning as they should–and they can be costly to maintain, especially without energy-saving appliances and insulation. Which brings us to our next point to consider when thinking about downsizing…
Home expenses are high
If you’re finding that your current home’s expenses are a source of stress, downsizing may be in your future. A standard “rule” by finance experts is that home expenses should not exceed 30% of your income. That includes your mortgage, taxes, utilities, and upkeep. While this “rule” may be a helpful target, if you are on a limited budget, 30% may already feel too high and may leave you feeling squeezed (and stressed) just trying to pay for the bare minimum on your home. Downsizing may help alleviate some of the burden of your home expenses, leaving you with more money month after month.
A layout you no longer love
When it comes to downsizing, it’s not just all about finances (though they will certainly play a critical role in your decision!). For many of us, homes with stairs, extra bathrooms that we don’t need and bedrooms that don’t get slept in all add up to a layout we no longer love. As our families and personal needs evolve, we may find that empty rooms gather dust, stairs aren’t as kind on our knees as we need them to be, and heating or cooling a mostly empty house just doesn’t make sense anymore.
While it’s pleasant to think about keeping those bedrooms for holiday visitors or family gatherings, the spaces no longer needed on a daily basis may outweigh the few times of year they’re utilized. Downsizing can make more sense for your day-to-day life, and with some creativity–like sleeper sofas, day beds, or trundle beds–you can still host loved ones from out of town when the occasion calls for it.
Your locale is too far away from loved ones
Maybe you bought your current home to be closer to loved ones who have since moved away, or maybe you’re thinking about downsizing to become closer to loved ones now. For many of us, living close to friends and family is an important part of the decision to downsize.
Being a part of our kids’ and grandchildrens’ lives, or being close to siblings or best friends can add a sense of community, safety, and fulfillment to our lives, and that’s no small thing! While we may still be happy with our current community, the appeal of moving closer to loved ones is a strong and powerful pull that can be as good a reason as any to downsize our Connecticut homes.
If you’re considering downsizing now or at any point in the future, reach out to your local Calcagni Real Estate agent to discuss the reasons and the options that will work best for you. Downsizing your Connecticut home doesn’t have to be overwhelming. With support from Calcagni Real Estate, it can be an informed, happy, and rewarding decision!
