The kids are growing up. Finally, right? But now you find yourself with an empty nest— so much unused space. It could be time to downsize and sell your family home. If you’re on the fence about whether or not to sell your empty nest, here are five reasons you should consider.
Throughout our lives, we all strive to put money away little by little, in hopes of creating a comfortable nest egg. While you could have sufficiently put away a decent amount for retirement savings, the sale of your home could significantly increase this amount. With the money earned from the sale, downsizing your family home could provide a substantial decrease in your mortgage payments. By putting this well-earned money in your retirement account, you could live your golden years doing more of what you’ve always wanted.
When you downsize, the location of your new property could provide a lower monthly mortgage cost. Likewise, smaller homes do not require as much electricity, gas, cooling, or heating, which could significantly lower your utility bills. Lower bills and a smaller mortgage speak for themselves, plus you will be able to save money for the things that matter most.
If you’ve always said you wanted to travel, but couldn’t afford such an adventure, the profit from the sale of your home could turn that dream into a reality. Downsizing can give you more financial freedom to explore hobbies or activities you might not have been able to enjoy, previously. Having a smaller home to maintain and lower bills to worry about will lower your level of stress, leaving you to enjoy life with a little less worry.
A larger home often comes along with a larger to-do list. Downsizing can lead to a significant decrease in maintenance costs. The financial aid that comes along with the sale of your home, plus fewer maintenance obligations, could lead to a more peaceful lifestyle and a clearer state-of-mind.
Along the same lines of finances, the amount of money you save on real estate taxes could be significant. Moving to a smaller home as a result of downsizing could likely offer the benefit of lower real estate taxes. By saving on taxes, you can put even more money toward what matters most—yourself.
Downsizing from your familiar family home could be emotional. So get a head start on a stress-free empty nest by selling your home with HomeGo.
We make the process simple and fast so that you can get on with your life. HomeGo buys houses using a straightforward process and will close the deal fast, often in as little as seven days. Even if your home is old or damaged, HomeGo will buy it. Don’t make any repairs, we buy as-is. Unlike selling your house the old-fashioned way, HomeGo offers no stress, no waiting around, and no fees.
If you’re interested in what kind of offer you can get for your home— you can find out in seconds. Get your offer here.