one.
For the purposes of this chapter, we’re going to focus specifically on the benefits of downsizing, though many of these same benefits apply to a “right-size” property.
10 BENEFITS OF DOWNSIZING
1. Profit
Simply put, you could make a profit by selling your current home and moving into a smaller home — bonus points if you’ve already paid off your mortgage because you might just be able to purchase your next home outright. You might even stand to make a sizable profit (this is all dependent on your individual market and how much your current home is worth) and feather your nest egg. If you’ve been delaying retirement because you don’t think you can afford it, selling your larger home and moving into a smaller one could allow you to finally retire in peace and comfort.
2. Lower Bills
Downsizing also presents another money-saving opportunity: lower (often significantly lower) energy or utility bills! Who doesn’t want to save on bills? Choosing to live in a smaller dwelling space can reduce housing costs. Think about it: It costs significantly less to heat and cool a smaller home. Smaller homes also typically have less wasted
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