Downsizing to a smaller house makes good economic sense if you save at least 25% of what you currently spend (on mortgage and other expenses). If you are living mortgage free in your current home, will you be able to sell it and buy a smaller house with the proceeds? Maybe. Maybe not. And if you can, will you be happy with what you can get for your money? Will be really be comfortable in 900 square feet if you are used to puttering around in 2500? With the price of new homes 20% higher than existing houses, you have to ask yourself are the tradeoffs worth it?
Questions? Thoughts? Please contact me anytime! I’d love to connect with you.