There are many reasons to consider downsizing your present living quarters—retirement, an empty nest situation, financial pressures, a desire to have more free time, health conditions, etc.—but it is not a decision to be made without first doing extensive research, examining your finances, and evaluating the emotional impact of such a move. As with any major change which affects your life, there are both pros and cons to be recognized and analyzed before taking—or not taking—the final step. It is wise to consult a Realtor who specializes in downsizing and to read this article on the subject from Smart Money magazine as you investigate the possibility of leaving your Virginia Beach home for a smaller residence.
Reasons to stay where you are might include:
- Needing the room you have in your current Virginia Beach home for guests and visits from family, especially grandchildren!
- Being unable to part with so many treasured items or large furniture pieces
- Requiring a great deal of storage space
- Feeling comfortable in a large home where you have room to move around
- Belonging to a familiar neighborhood surrounded by friends
- Finding the task of packing and moving too daunting to consider
- Paying high HOA fees and living with restrictions in a condo or townhouse community.
Reasons to downsize include:
- Increasing your monthly cash flow. Downsizing will result in a smaller mortgage payment; lower utility bills, maintenance costs, and property taxes; and less expensive insurance on your new Virginia Beach home.
- Having extra free time once spent on cleaning, doing yard work, and maintaining a larger home.
- Enjoying an easier, less stressful lifestyle with fewer responsibilities.
- Moving to a neighborhood of like-minded individuals—a golf or tennis community, e.g.
- Planning ahead for unforeseen health problems and aging.
If, after weighing both the pros and cons, you decide to downsize your Virginia Beach home, there are many sites on the Internet that can help you analyze your finances, estimate moving costs, deal with the emotional factor, and organize the downsizing process itself. RISMedia offers five solid tips for efficiency, and About.com deals with market timing and when to sell your current home before you buy a smaller one!)
It is also helpful to personally talk with others who have downsized, Those who decided not to, a Realtor, and your accountant. This is, after all, a major step in your life, and the more input you receive, the easier it will be to make an intelligent decision.
April Partida is a Professional, Experienced and Results Oriented, Top Virginia Beach VA Realtor committed to meeting your needs.
April has distinguished herself as a leader in the Virginia Beach Virginia real estate market. April assists buyers looking for Virginia Beach VA real estate for sale and aggressively markets Virginia Beach homes for sale. April is also a Short Sales and Foreclosures Resource Specialist (SFR). Avoid foreclosure and short sale expert, committed to helping families in financial hardship find options to foreclosure.
You can reach April at 757-227-1777 or by email, email@example.com. ALL of the information, NONE of the obligation!