When you downsize your home, you can also downsize your expenses. Here are some tips for going small that you may find useful.
Real Estate Taxes
If you downsize and move to home that is half the square feet of your previous house, expect to see a significant decrease in real estate taxes. The thing about real estate taxes is that they never go away. By reducing your living space, you can expect to see a decrease of up to 50%.
Lower Utilities Cost
When you move to a smaller house, your utilities cost will lower. Simply because there is less space to heat or cool. You wouldn’t need to leave the A/C or furnace on for long periods of time which will lower your utility bill.
Extra Cash In Your Pocket
Downsizing can present unbelievable opportunities for you. Reducing your expenses means that you will have more cash available to spend. You can take it and invest in the stocks market, or even go on that long-awaited vacation that you’ve been putting off for years.
Beyond the Money
By living in a smaller space, you have a more controlled environment. This is especially good for retirees that have a lot of unneeded space because the kids have moved out. The time it would take for you to clean the entire house would lower and you will be able to find things a lot easier.
If you are looking to live in a smaller space, you might as well enjoy the extra money that you save as well.
Bio: Kuba Jewgieniew is the CEO of Realty ONE Group. With their commitment to selling you the best real estate on the market accompanied by their passionate team of agents, you won’t look anywhere else when you need a place to call home.