There could be n number of reasons why you planning to Downsizing Your Home;
- You might be retiring soon and you can’t spend much money and effort in maintaining the house in Vancouver because it is too big for you. Moving to a smaller accommodation can save you a lot of money and you still can enjoy comfortable living by not roaming in a big house in your old age.
- Your children have moved out and now your house in Vancouver that once looked fit for the family looks empty when only a couple of people are living in it. The emptiness is taking your comfort of living. You and your partner now want a home that is more manageable and doesn’t look empty with you two in the house.
- You might be facing financial crises in your business and affording your current home in Vancouver is costing you a lot of money. Moving to a more affordable downsized location would be the best choice to save a lot of cash and manage your financial crises.
- You might be in a job in which you have to travel a lot and you spend very less time at home. Maintaining a very large home in Vancouver that is most of the time empty is not a good choice for you and you decide to go to downsize and have a smaller home and maintain it well.
All the above reasons are those where you had to go to Downsizing Your Home. Sometimes, it’s not the situations that make you go for downsized apartments. Sometimes, you want to do it because you want a simpler life away from all the gigantic dramas. Some people just cut down the complex life and choose a simple life by moving into a smaller home with limitedness. They have their own reasons.
There could be any other reason. But the point is that this is the right and the high time to Downsizing Your Home in Vancouver as the market is slowing down and detached homes are overvalued. It is sensible and beneficial to take that decision now. Time is in your favor as the biggest benefit of Downsizing Your Home now.
The other general benefits of Downsizing Your Home are: –
- Utilities get cheap, budget wise: Keeping a smaller home warm or cool won’t cost you much. Electricity costs will also go down.
- The mortgage becomes small: Smaller homes mean smaller mortgage loans which could also mean larger down payment resulting in saving on the interest rates.
- Less Maintenance Cost: With every inch decrease of your house, you cut down the maintenance cost of your home.
- Slashed Taxes: Property tax is less for smaller accommodations.
So, you see, it’s a long term money saving plan if you choose to downsize.
I have shared personal financial benefits of downsizing.
As per the market stats, you have to take a decision quickly to leverage the situation. For more information on this or for any real estate assistance, don’t hesitate to contact Andrew Szalontai, your friendly realtor!