S2Ep1 - Downsizing - a podcast by Brian Cook And Kindra Cox

On Season 2, Episode 1 of The Brian and Kindra show, they discussed the benefits and challenges in downsizing your home.  

There are multiple reasons why one would downsize.  Often buyers choose to downsize due to changes in their family units.  Maybe they have divorced or have an empty nest.  Another reason can be the cost efficiency that comes with a smaller home as the taxes, heat/air, and utilities are often less expensive. 

Living small means less debt and less risk. A smaller house will cost less and not require a large loan. Maybe this allows for travel or more entertainment opportunities.  Owning a smaller house is mentally freeing. It provides you the time/money to do more. You have more time with less cleaning and you have more money from no high utilities. Between first time home buyers and people downsizing, smaller homes are often easier to sell. There are generally more purchase options when shopping for a smaller home. This means smaller homes may also be a wiser investment opportunity.  

One of the biggest upsides to a smaller home is cleaning. There is less cleaning and maintenance to do with less square feet. Also, bigger space collects stuff. The more space you have, the more stuff that piles up or you purchase to fill the space. So, a tiny home helps reduce unnecessary clutter. 

Smaller homes can also encourage family bonding. There is no room to hide. You see your family more often because of the shared spaces. 

Sometimes, downsizing can be an emotional challenge. Often, when one has lived in one home for many years, they find they are attached to their house and in a sense, include it as part of their family.  Don’t forget, when you move into a smaller home, you won’t lose memories of the old house. You’ll have those memories to cherish and get to create new ones in the new house. 

Brian and Kindra hope these tips have been helpful to you. As always, if you have any questions or need help, please feel free to reach out to your local real estate professional.

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