5 key signs it's time to downsize

Once you’ve got on the property ladder, many of us focus on climbing up it – toward bigger and better. However, there will be key moments in your life when you realise that bigger isn’t always better and that there is such a thing as excessive space. But it’s not always easy to notice these key moments yourself. To help you recognize if it’s time for you to find something smaller, read our 5 key downsizing signs below.

1. You have neglected rooms and empty spaces in your home

The kids have left the nest and you are now left with one spare room too many, or you find yourselves never using the huge formal dining room. When you have spaces that go unused, they not only collect dust but they consume valuable energy from your heating and cooling systems. Which is money you can spend better elsewhere! While there may be several reasons for why you have empty rooms in your home, multiple unused spaces in your home is a clear sign that you are ready for a smaller property.

2. You want a different location or lifestyle 

The location of your home plays a vital part in how you live your life. From a practical perspective a new location can mean spending less time in traffic driving to work or being closer to your family. Perhaps a new location will provide you with the lifestyle you’ve always dreamed of. Maybe you dream of weekends exploring the bustling city’s best restaurants and entertainment or long walks in the bush and along secluded beaches? The feeling restless or dreams of a change also applies to your immediate space - the street you live in, the garden you have, the rooms within your property. Frustration or weariness with your surroundings, is a sign that it’s time to move on.

3. You live in a high maintenance home

Larger homes tend to require a lot of time and hard work to maintain. If you receive help with gardening, cleaning and repair work then the chores of your home may not be an issue for you. However, if you tend to them yourself and find yourself wanting to spend your time and effort elsewhere, a smaller home is more likely to fit your lifestyle. When you’re finding that your home is becoming a bit too much for you to handle comfortably, start looking for something smaller and more low maintenance.

4. You want a ‘better’ property

One of the perks about trading down in size is that you often trade up in quality. Downsizing usually means that house hunters don't have to compromise as much on their ideal criteria since there is money left over in the bank. It can be a great relief to afford something that has already been freshly renovated or is newly built. If you find yourself longing for that ‘brand new’ feel, you may be ready for a new home.

5. The market is good and the price is right

Have you been thinking about moving for some time? If so, you have probably alreadyresearched the market in your area and perhaps even contacted an agent for an appraisal. If you find that you can sell within your desired price range, it may be time to take the plunge. If you bought your property several years ago it most likely would have appreciated in value over the years, which may make it much more profitable for you to sell and downsize rather than to hang on to a house that doesn't quite fulfil your needs. 

Are you looking to sell your home and downsize? We can help you get the right price - and the perfect property. For expert advice regarding your specific situation, contact your local real estate agent Discover Residential in Frankston, Seaford, Frankston South, Langwarrin, Frankston North, Baxter and Somerville for assistance.

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