Has Your House Become Too Big?
Have your kids grown up and left the house? Are you approaching retirement age? Perhaps your home has now become too big, and is starting to have more disadvantages than advantages. If so, it’s time to consider your options.
Recognizing the signs
Some of the reasons that are often given for wanting to move to a smaller home are having unused rooms in the house (except when you need to dust them), as well as a desire to live more simply, to travel more often and without hassle, to get closer to nature or to the city, or to reduce certain costs.
Define your needs
Opting for a smaller home also means changing some of your day-to-day habits. It is therefore essential that you properly define your needs. What lifestyle elements do you want to keep? What are you prepared to do without? Do you want to move closer to services and reduce your use of a car? Or are you looking to live in the country?
By taking your priorities into account, your real estate broker will propose options that meet your needs, whether you’re considering a condominium, a townhouse, or a rental in the city and the purchase of a cottage, etc. Keeping an open mind to the various possibilities is a great advantage when embarking on this type of major change.
Consult your broker to assess your transaction
The sale of a larger property combined with the purchase of a smaller one is sometimes motivated by financial gain. However, you must take into account all of the expenses associated with this change in lifestyle. You must anticipate certain costs, as it may happen, for example, that your furniture is no longer suitable to a smaller home or that a second car is needed out in the country. Consult your real estate broker to fully assess the net result of your change in properties. Generally speaking, your primary motivation should not only be financial, but it should also match your desires.