Thinking of Downsizing Your Home? 7 Reasons Why Now May be the Time.
Why Downsize To A Smaller Home in the Bend, Oregon Area?
Have you been thinking about downsizing to a smaller home in the Bend area but you’re not sure if it’s the right decision? You’re not alone. Many homeowners in Central Oregon and across the United States are thinking about downsizing to smaller homes. (If you missed the House Talk episode on downsizing, click here.)
Motivations for Downsizing
There are a wide variety of reasons for homeowners in Bend, Redmond, Prineville and across Central Oregon to consider downsizing to smaller homes, among them:
Easy maintenance – Smaller homes are easier to maintain because they require less money, time and energy to keep them up compared to larger properties.Less cleaning time – Another common reason for downsizing is that a smaller home takes less time to clean than a bigger home.More affordable – Depending on the location and when you buy, a smaller home may be more affordable than a bigger property.Less debt– One of the biggest reasons to buy a smaller home is that a smaller house also means less debt for you to pay off over the lifetime of the mortgage loan, and of course less risk for your lender.Live more with less stuff – One of the top reasons that buyers cite for downsizing to a smaller home regardless if it’s a micro, 300 square foot tiny home, or a 1,200 square foot bungalow home, is that they wanted to live more with less stuff in their homes.Smaller environmental footprint – Many buyers over the last 24 months who have downsized to smaller properties have said that they did so because they wanted to leave less of an impact on the environment by requiring fewer materials and resources to build and may also be more energy efficient than larger properties.7 Reasons Why Now May Be a Good Time to Downsize Your Home
1. Downsizing Can Encourage Family Bonding
Regardless if you’re seeking a smaller home in Central Oregon because your children have grown up and moved out of the home, or your current house is too big and you want to encourage bonding in your family with a smaller space, downsizing to a smaller house can be a great way to achieve your goals. Living in closer quarters means more communication and potentially less reliance on electronic devices. Be careful though, every family is different in their need for personal space. Be sure that the home you buy is realistic for the way you and your family want to live.
2. Live More Efficiently When You Downsize
Yes, it’s true that when you downsize it’s imperative to start living more efficiently. You will be faced with living in a smaller space and have to decide where you’re going to put something before you purchase it.
Although getting rid of “stuff” may seem a little intimidating, living efficiently can be freeing for you both emotionally and financially since you will be faced with only using the items in your home that you use regularly plus you won’t have to maintain items if they won’t fit in your home like your Grandma’s china, or your dad’s extensive collection of Betamax tapes that he gave you for Christmas. Downsizing gives you the opportunity to reduce your possessions.
3. It’s Less Tempting to Hoard Stuff
Nobody wants to think that they are becoming a hoarder as they grow older, and it’s much less likely to happen when you live in a smaller home. Less space means that you won’t be able to start an extensive collection until you’ve also thought about where you will display or store it.
4. Smaller Homes Mean Less Space to Decorate
In a smaller home you will have to make fewer decorating decisions, spend less money on decorating, and you will be able to settle into your home quickly compared to the cost of decorating a larger home before you move in.
5. Small Homes Can Be Easier To Sell
One of the biggest motivations for buying a smaller home is that they can be easier to sell compared to homes that are 3,000 square feet or larger. A smaller home requires a smaller mortgage loan and this means that a bigger portion of the home buying population will be able to afford your home should you decide to sell it in the future.
6. Yes, You Can Buy a Home While Selling At the Same Time
Did you know that you can buy a new, small home while selling your large home at the same time?
When you work with us, we can help you to sell your home while you are in the process of buying a home at the same time. And if you need some time in the home you’re selling before moving in to your new home, often we can negotiate with the buyer for you to rent it back for a period of time. This means only moving once.
7. We Make Downsizing Easy
If you think you’re ready to downsize your home, we can make it easy. We’ll start by talking through the process with you and answering any questions you might have. Then we’ll create an action plan and get started. Call us for an appointment to talk over your situation.
Still have questions about real estate in general in Central Oregon? Our comprehensive guide is a great place to start.