Four Signs it’s Time to Downsize

Is your current Edmonton home starting to feel like a burden? Do you find yourself wasting a lot of time, money and effort maintaining unused rooms and yard space?  It may be time to consider downsizing. Here are the top 4 signs: 

1. You Have an Empty Nest

We know the decision to give up your family home can be a tough one. However, additional, unused spaces such as bedrooms, secondary living/ family rooms, finished basements etc. aren’t only a pain to clean, they drive up your monthly utility bills and maintenance costs. Keep in mind, the decision to downsize also affords you the opportunity to move closer to loved ones and simplify your life at the same. 

2. You’re Retired (or about to retire)

Downsizing is a great way to pad your retirement fund. Not only will selling your current home give you instant cash in the bank, you can look forward to reduced utility bills, property taxes and mortgage payments. It will also give you the opportunity to align your new lifestyle with your retirement goals. For instance, if you’re an avid golfer, you may opt for a smaller home near a popular Edmonton golf course. If you’re planning on doing a lot of travelling, a home closer to the Edmonton International Airport or major commuter roads would be ideal. 

3. You Can’t Keep Up With the Maintenance

As we mentioned, larger homes aren’t just more expensive, they’re a lot of work! Cleaning aside, mowing the lawn, shovelling snow and performing regular home-based repairs are both time-consuming and exhausting. If you find yourself relying on friends and family or paying large sums of money for hired help it may be time to scale down. 

4. You’re Concerned About Your Health

Reduced mobility often comes hand in hand with ageing. For this reason, downsizing to a smaller home can have a big impact on your quality of life later on. Fewer stairs, wider doorways and hallways, easy to navigate tubs and showers as well as wheelchair accessibility are all valid considerations. While retrofitting your existing Edmonton property is an option, purchasing a smaller home already tailored to your needs will be quicker and more affordable. 

Talk to Your Realtor®

Be sure to talk to a qualified Edmonton REALTOR® about your downsizing wants and needs. Not only will they take the time to understand your unique situation, but they will also work hard to make your transition into your new home (and your new lifestyle) as simple and enjoyable as possible.

If you’ve decided it might be time to downsize but are unsure of where to start, we can help! Download your FREE copy of our Downsizer’s Guide by simply clicking the button below or, reach out to us! We’d love to answer any questions you may have.

Don’t forget to check out our website! From home buying and selling advice to informative blog posts and the latest Edmonton MLS listings, we have all the information you need.

Categorised in: Downsizing

This post was written by Terry Paranych Real Estate Group