Have you been wondering if downsizing might be a good option for you? Whether you live in a large single-family home, town home, or condo, downsizing might be the ideal option if you're looking to simplify your lifestyle and cut back on the expenses that come with homeownership. If you can relate to the thoughts below, you may want to consider selling your home and downsizing into an apartment sooner rather than later.
You No Longer Need So Much Space
Larger homes make sense if you have a large family at home or if you need plenty of space to house your workshop or Victorian furniture collection. When you have more house than you need, it makes sense to look for a smaller place.
Downsizing doesn’t necessarily mean moving into a drab, cramped apartment or house. Your new home might be a spacious, two-bedroom apartment with plenty of modern amenities. If you’re thinking about downsizing in Central New Jersey, Country Classics offers several award-winning apartment communities, one of which is bound to be the ideal place to call home.
Caring for Your Property is Difficult, Time-Consuming or Expensive
Your home shouldn’t be a burden. Unfortunately, if you’re not physically able to keep up with caring for your home, or you feel that you’re spending too much time or money on upkeep and maintenance, owning a large home may not be worth the hassle. Downsizing can give you more free time, which you can use to do anything you want – or nothing at all.
When you downsize, you’ll spend less time cleaning or taking care of your home and yard. If you downsize to an apartment, you won’t have to worry about yard work or snow removal at all. The apartment community’s staff will handle those tasks when you relax in your new home.
You Want to Reduce Debt or Increase Savings
Everything is more expensive when you have a large home. In addition to a bigger mortgage payment, you’ll pay more for utilities, property taxes, maintenance and upkeep. If you’d like to lower your debt load, increase your savings or save for retirement, moving to a smaller home or apartment may be the ideal option. Have you always dreamed of owning a vacation home? If you downsize, you may finally be able to buy a home or condo in your favorite vacation spot.
You Want a Simpler Life
It may be more difficult to simplify your life if you live in a large home. If you’re focusing less on possessions and more on experiences or spirituality these days, downsizing could help you achieve your goals. When you live in an apartment, you’ll be less tempted to buy things due to space concerns and will spend less time caring for your home and possessions.
You're Thinking Ahead to Retirement
Whether you plan to retire in six months or 10 years, downsizing before retirement can be a good idea. Although most people would like to remain active as they grow older, health concerns or mobility issues might one day affect your ability to climb stairs or care for your home. Between ages 75 to 84, almost 20 percent of men and more than 25 percent of women will have a least one limitation that will make daily activities more difficult, according to a National Institute on Aging study.
If a mobility or health issue happens suddenly, you’ll have to scramble to make your home accessible. Home renovations can take weeks or months and can be quite expensive, particularly if you need to add a full first-floor bathroom or make structural changes to entrances and doorways.
Downsizing to an apartment will make it easier to handle changes in your health or mobility. Choosing an apartment with an open or semi-open floor will ensure that you won’t have to move if you need to use a wheelchair or walker eventually.
Are you planning on downsizing in Central New Jersey? A new apartment in one of Country Classics' rental communities may be the perfect option for you. Contact us for information on our current and soon-to-be-built apartment communities.