Benefits to downsize your house in Nashville
For most people, downsizing means buying a nicer home than what they’re leaving behind – and with all those savings from the previous point, you can spend even more on upgrades! A newly renovated kitchen, new appliances, or even something as simple as fresh paint throughout the whole house will make your new home feel like just that.
If you are someone who’s looking to sell my house fast Nashville then you should definitely consider downsizing your house. The main reason for this is because it’s a lot easier to sell a small house that needs a little bit of work than it is to sell a larger house.
Having more space is always a good thing. However, it may not necessarily be the best thing for your family. Some downsizing is good for your and your family. To help you figure it out, here are some benefits to downsize a house for your family in Nashville.
When one thinks of downsizing, empty nesters often come to mind. Couples whose children have left the home find the maintenance and expenses of a larger home not worth it anymore and look to move into a smaller space. But the benefits of downsizing are being enjoyed by many with a ‘full nest’ looking to simplify their life, free up their time and yes, save money. (1)
Less to clean and maintain
Cleaning is another big responsibility that involves a lot of hard work. The less you own, the less there is to clean and maintain. You will have less floor to sweep and vacuum. You will have fewer surfaces to wipe down, fewer toilets to scrub, fewer showers and sinks to scrub, fewer curtains or blinds to dust (if you even have such things anymore), and so on.
In fact, since your food preparation area will be smaller, there may also be less of each meal’s debris on your counters and stove top.
Similarly, there tend to be far fewer things that need maintenance or cleaning – like heating vents and light fixtures with shades – as a result. You don’t need to worry about putting off maintenance of these various parts of your home, such as:
● lower ceilings that require ladders for cleaning
● windows that reach higher up from the ground
● skylights (which actually only require maintenance once every few years)
● more tiled flooring instead of carpeted areas with high-traffic paths; and so on.
Again, all these things take time and effort in a larger home—and it all adds up! And remember: the older you get, the more difficult this type of work becomes.
As always, having less means paying for less wear-and-tear over time – so your house will last longer between repairs or replacing major components like roofs or furnaces. Get an instant offer from the best Homebuyers in Tennessee.
Higher quality home
When it comes to monthly payments, the less square footage you have, the less you have to pay. This means that if you want a house in a better neighborhood, one that is more energy-efficient or modern, or one that’s closer to work, downsizing your home might be the answer. As long as you strive to explore new places then sell house fast Nashville.
Lower utility bills
You’ll notice that many people who downsize to a smaller home rave about the significantly lower utility bills. That’s thanks in part to the fact that there’s less space for heat, cool, light, and water.
A larger home will take longer to heat up and cool down because of its added square footage. On the other hand, a smaller home will naturally require less energy per month simply by virtue of being smaller. For example, a 1,000 square-foot apartment might use just 700 kWh per month while a 4,000 square-foot house could easily use twice as much electricity.
The same goes for your water bill: the fewer bathrooms you have, the less water you need; the fewer loads of laundry you do weekly means using less hot water and detergent; an efficiency washer uses one-third as much water as an older model; and so on.
This is especially helpful for those looking to become more environmentally conscious or are moving into retirement and want extra money each month for other purposes.
Lower property taxes
One of the simplest ways to lower property taxes is simply to buy a smaller home. The amount of money that you save in property taxes can be substantial. Depending on where you live and the types of homes available, this can be a very strong reason to downsize your home.
For example, if you are considering moving from a $500,000 house located in an area where houses typically sell for $200,000 – $300,000 (not including extremely expensive markets), then the tax savings alone could be enough to push you towards downsizing.
If your current property tax rate is 1%, then by moving into a smaller house that sells for about half of what your current one does, you will instantly save about $2,500 per year every year that you stay in your new home. That’s not a bad bonus just for making the decision to downsize!
The good news about this situation is that it works just as well when going from a larger house to an even smaller one (for example, from 2200 square feet to 1400 square feet).
You don’t need to go all the way down to 300 square feet or anything like that; cutting back by several hundred square feet should still result in significantly lower property taxes each month and more money saved over time.
Generally, a smaller home can translate into a smaller monthly mortgage payment. In many cases, if you have lived in your family home for many years, and built up sizable home equity, you may be able to cash out and purchase a new smaller, less-expensive home – even possibly eliminating a mortgage payment completely. (2)
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Less to pack when it’s time to move
Moving is stressful. It involves a lot of packing, unpacking, coordinating movers, and many other things. Getting rid of some of your household items will make the moving process quicker and easier. For example, if you downsize your home by 250 square feet, it will be at least 20% less to move. Ready to make a move? Whatever the condition of your house is just simply sell my Nashville house fast.
In a nutshell, you have fewer things to worry about
A smaller space means less cleaning time and fewer repairs, freeing you up to do whatever it is you want to be doing instead of scrubbing baseboards or mowing the lawn. No need for that riding lawn mower when a push mower does just fine; no need for an attic full of keepsakes passed down from your great-grandparents when there’s not enough room for them anyway.