When the kids move out of the house mom and dad find a smaller house with fewer rooms and go about downsizing. This is not the only reason to downsize your house. There are a lot of other reasons and benefits from from downsizing. Here are 6 reasons why you should downsize your house in Pinal County.
Pay Off Debts
If you downsize your house in Pinal County, you could pay off debts! By selling your house and buying a smaller one, you can have a nice chunk of change to put towards paying off your balances. For most of us home mortgage is not the only loan we take out to make our lives comfortable. We also have car loans, student loans, and credit card debts. When you decide on downsizing you will also be saving money every month by taking advantage of the current interest rates. You can commit to paying off your balances every month with the extra cash. You could also put extra money towards the principal of your new house loan with your savings and pay off your smaller house faster.
Start A College Fund
If you downsize your house in Pinal County, you could start a college fund for your children or grandchildren. The difference made after downsizing — selling your current house to buy a smaller one — can be a nice starting fund. The extra money each month can go straight to the college savings fund which will build up to benefit your loved ones.
You Like A Different House
Another reason foe downsizing in Pinal County would be that you don’t like your current house. You may have seen a new, smaller house that has a better layout than your current house. Maybe the smaller house is a condo that has all the amenities and entertainment areas. Another reason you may not like your house is that it has a larger environmental footprint. A lot of people are starting to live in smaller houses that do not use up as many resources as larger houses.
Save for Retirement
If you downsize your house in Pinal County, you could quickly boost your retirement fund. You could open a savings account with that large chunk of money and keep adding to it every month with the difference. You could also invest that money in mutual funds or an IRA or Roth IRA account to possibly make way more than if you only make deposits into a savings account. Even if you are at retirement age, downsizing later in life can be a nice boost to your account and maybe fund that big retirement trip you’ve been dreaming about.
Too Much Upkeep
If you are having trouble keeping up with all the housework, you would definitely benefit from downsizing your house in Pinal County. You can find a new house that only requires a bit of yard work, or none at all. Maybe you don’t have as much time to garden as you once did. Keeping up with a big house comes with much dusting or sweeping and mopping. If you no longer have the energy to do house work, downsizing would be a good fit. Upkeep also means repairs. If you’re not much of a DIY type of person and want to save on hiring professionals to repair multiple parts of a bigger house, downsizing is for you!
Reduce Costs
The top motivator for most people in choosing to downsize their house is to reduce costs. Maybe you can no longer afford your current situation because of unforeseen circumstances and you need to downsize your house to reduce your monthly costs. When you downsize and sell your current house the difference you get from the sale and the purchase of a new house could give you a boost in funds. Getting a less expensive house allows you to reduce your overall costs that would be more affordable. This would especially be true if your new, smaller house had some green innovations to help with the general cost of the household. Perhaps the new house has solar panels to help with the monthly utility bill.
Cost-related benefits of downsizing include savings on property taxes, utility bills, and home maintenance costs. Smaller homes generally use up lower heating, cooling, and electricity expenses, and the costs for repairs and upkeep are typically less due to the smaller square footage or floor area.