Signs It’s Time To Downsize Your Home

Week number #3, signs it’s time to downsize your home. In week number one, we talked about housing expenses exceeding 30% of your income. In week number two, we talked about your housing budget eating up all your money, so that you have nothing left over for fun, for travel, and things that you enjoy. Hi, I’m Rich Barnes, owner-broker of Realty Experts in West Allis, Wisconsin, 53214. This week’s topic is about falling behind on your home maintenance. The garden patio where you learned the impending arrival of your first grandchild, the wall where you charted the heights of your kids and grand kids, the driveway where the kids spent hours playing basketball. It’s precious memories like these that lead retirees to linger longer in their family home than is wise for their health and their financial stability. If sentiment tempts you to hang on to your home too long, it will wind up doing more damage to your finances than you would expect. There are negative consequences not to downsize. If you if you make the move too late, your home just starts deteriorating. If you’re going to have to spend equity to repair your house before it goes on the market. The problem is you don’t know how much that delayed maintenance is going to cost you. And if you wait too long to replace, like a roof air conditioner, things of that nature, things like this happen time and time again where my sellers spend their hard earned equity to get the home ready for sale. Not only will you wind up spending more money to get your home ready to sell, you’ll have wasted years of cash on more expensive homeowner’s insurance, property taxes, and more. So if you have any questions about downsizing, feel free to reach out, I’m here to help. Thanks and have a great day.

Signs its time to downsize #3
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