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Consider Downsizing Your Home

by _ SandKeyRealtor.com _ 01/22/2019

You may think of downsizing as something that makes sense when you have an empty nest. Larger families do, of course, need more room. Downsizing can also be financially strategic and rewarding for you and your family if you have the opportunity to do so.


How Much Is Your Home Worth? 


There comes a point in your life when the amount of money that your home is worth is very important. Maybe you need the money for retirement and are looking to move to a cheaper city or state. Maybe it’s time for you to pursue your goals and dreams. Whatever the reason, your home is a very large asset.  


If you downsize, you’ll have a bit more money available to invest for your future. You may even consider buying an investment property. If all of your money isn’t tied up in a home, you’ll have a bit more freedom to do other things with your money.


A Smaller Home Means Smaller Expenses 


When you downsize your home you end up with much lower expenses for your housing. You’ll save big on both utilities and home maintenance. You’ll be surprised as to how much extra cash you’ll have each and every month that you’ll be able to use for other things like investing, travel, or other expenses. You’ll have the ability to do things beyond simply achieve that one dream goal of home ownership. 


What If You Don’t Already Own A Home?


There’s a lesson to be learned here for renters as well. If you’re getting ready to buy a home, you may want to think small. A smaller home that can suit your needs will allow you to save thousands of dollars over the life of the mortgage on your home. Remember that a mortgage payment is more than just the cost of the home. You’ll need to include things like taxes, insurance, mortgage insurance, heating, electricity, and more. The smaller the house that you buy, the less all of these things will cost. Think of what you could do if you invested that extra money that you saved on all of these things each month. 


What Would You Do With The Money You Save?


Having a big, beautiful home is a fantastic goal to achieve. You may have other dreams that you want to pursue in addition to owning a home. While downsizing isn’t for everyone, many people use the money they save to do some pretty incredible things like:


  • Travel
  • Go back to school
  • Buy a vacation home


The Negatives Of Downsizing


If you move into a smaller home, there are a few drawbacks. For one, you’ll have less storage and will actually need to downsize your amount of belongings as well. You’ll also have less room for visitors if hey come to stay. If grandkids frequent your home, you may be hesitant to sell and find a smaller place. It may also be difficult to find what you’re looking for at a certain price in a specific area. Think carefully before you decide to downsize and see if it has the right benefits for you.

About the Author

Author
_ SandKeyRealtor.com _
NEHAD ALHASSAN - REALTOR® PRIDE, PASSION, & PERFORMANCE Nehad Alhassan is a lifelong resident of the Clearwater/Tampa Florida area. He is passionate about serving his clients Real Estate needs with Legendary Customer Service! His focus is on Residential and Commercial properties. Nehad’s is a master marketer and has been featured on many local television and radio shows. One of his spectacular listings is located at 120 Gulf Blvd on Belleair Beach, FL. This home is a Frank Lloyd Wright, student inspired creation, at 4 Million Dollars near Clearwater Beach. Nehad worked with the property owner and received tremendous new coverage when the owner and he decided to utilize a new way of buying and selling real estate utilizing Bitcoin. Nehad is an expert in Technology. His technology and business acumen serve him well by helping clients in buying and selling property. His expertise is in Internet marketing, social media, and computer technology give him the edge in the internet age. Nehad markets properties, locally, nationally, and globally with topnotch proficiency. Nehad received world class training and skills while working at JP Morgan Chase one of the largest banks in the United States. He also worked at Telecom giant Verizon in their IT department. Not only is he a licensed real estate agent in Florida, he is a Crypto Currency Security Expert in Bitcoin. Nehad is prepared and poised to help you with all your Real Estate needs now and into the future! ________________________________________________________________________________________________________________ SEAN M. CAVANAGH, MBA REALTOR® PRIDE, PASSION, & PERFORMANCE 724-322-2396 [email protected] Sean Cavanagh is originally from Pennsylvania. Born in Philadelphia and grew up in Pittsburgh, PA. He located to Tampa & Clearwater due to the fact that it’s one of the best places in the world to conduct business. It also has some of the most spectacular sunsets in the world on the Gulf of Mexico. He graduated from California University of PA with his MBA. He served in the US ARMY and is Honorably Discharged. He is a student of History, Motivation, and Leadership and has traveled extensively throughout the world. He works with the Medical Community, Startups, Franchises with their marketing and advertising campaigns. He was the catalyst for the most successful business park in the history of his hometown of Uniontown, PA. He is passionate about serving his clients Real Estate needs with Legendary Customer Service! His focus is on Residential and Commercial properties. Sean markets properties, locally, nationally, and globally with topnotch proficiency and execution.