As your children grow up and leave home, your giant empty nest becomes infinitely roomier. You can convert your daughter’s girly, pink bedroom into a den, an office, or a man cave. You can transform your son’s rock-star-themed room into guest quarters for when the kids come back for a visit. But wait!
Before you start spending cash to redesign your extra rooms, think about your options.
- Option A: Continue paying for rooms you no longer need
- Option B: Downsize and sell your house for cash now
In case you haven’t considered downsizing, here are a few good reasons for you to stop paying for rooms you don’t need.
Save more money for retirement
After your kids leave home, your retirement years sneak up on you fast. If you downsize now, it helps you prepare for that inevitability. Downsizing is one of Suze Orman’s recurrent financial strategies for homeowners age 50 plus. She recognizes that many homeowners become emotionally attached to their homes. As a result, they postpone their move to a smaller home and miss a critical opportunity to increase their retirement savings.
Address mobility issues now, or you’ll have to do it later
Today, you probably have no problem sprinting up the stairs to your upper floors. But, unfortunately, your sprinting abilities diminish over time. Of course, you don’t want to think about mobility issues, but you should. Sadly, arthritis, bad knees, and achy joints will ultimately force you into a single-story home as you age.
Avoid rising home costs
If you’re a long-time homeowner, you’re probably accustomed to rising home expenses. Do you want to pay them if you don’t have to? Unless you have a fixed-rate mortgage, your payments will increase as the years go by further. If you can’t or don’t want to mow the lawn, perform maintenance tasks, or keep fixing things when they break, you’ll have to pay someone to do it for you.
The bigger your home, the more you’ll pay for water, sewage, and electricity. If you already dislike paying excessive heating bills, you can expect them to rise even higher. According to the 2021 data in the US Energy Information Center report, if winter weather arrives as predicted, expect significant price increases:
Downsize and sell your house for cash now!
At Next Level Home Buyers, we’ve helped many buyers downsize to a smaller home. Each downsizing homeowner had their reasons for making that choice. So we were excited to help them work out the details with our simple home buying process.
- We evaluate your home.
- We make an As-Is offer.
- You accept.
- We close in a few as seven days.
Contact Next Level Home Buyers
If you’d like for our homebuyers to help you downsize and sell your house for cash now, give us a call at 860-368-0343 or fill out our contact form. We’ll tell you more about our home buying process.
WE BUY HOUSES IN ANY SITUATION:
Behind on Payments
- Death of a loved one
- Liquidating assets
- Inherited property
- Job loss
- Bad mortgage
- Medical Bills
- Extensive repairs