Why Downsize to a Smaller Home in Philadelphia?
Maintaining a large house takes time, effort, and money, especially if you can no longer do things around the house yourself. If you’ve owned your home for a long time, it’s normal to outgrow the space after a few years.
Moving to a smaller house is a popular choice for many people in Philadelphia and across the states, but why? As a company that helps homeowners sell houses fast in Philadelphia, we come across families and couples wanting to downsize all the time.
Keep reading to learn the most common reasons why downsize to a smaller home in Philadelphia.
1. Spend More Time With Loved Ones
Living in a large home can mean you spend less time together as a family. While it’s great that everyone has their own space, it’s easier to use that space and spend time alone, rather than together. A huge house can separate families, so spending time together must be scheduled, rather than a serendipitous occurrence. Downsizing to a smaller home makes it easier to spend time together, boosting the amount of family time you have.
2. Reduce Home Maintenance, Cleaning & Chores
All homes need to be maintained, from fixing things that go wrong to keeping up with yard maintenance. But, naturally, larger houses require more upkeep. Plus, cleaning your home takes longer and requires more energy compared with a small home. While you can hire a cleaner, gardener, and other professional experts to boost your curb appeal, this can cost significantly more than it’s worth.
According to Upnest, you should allocate around 1% of the property’s value towards the cost of home maintenance annually. So, a $400,000 property can cost around $4,000 annually, and a $900,000 property can cost $9,000. Downsizing to a smaller home is a great way to free up your time and reduce expenditure on home maintenance.
3. Get Extra Cash
Downsizing to a smaller home can also save money and increase the cash you have. In larger houses, annual property taxes, home insurance, and utility bills are often higher than in small homes. Moving to a smaller home can significantly reduce your outgoings, especially in Philadelphia with its hot summers (leading to high A/C bills) and cold winters (increasing gas bills).
Additionally, selling your home at the right time can boost resale value, increasing the equity you have in your home. You may even be able to get a better mortgage rate on a new property when moving, saving you even more money long-term. Learn more about how downsizing affects interest rates in this Washington Post article.
4. Live a Less Cluttered Life
Remember when tiny homes were all the rage? They are still around even if you do not hear about them as much in the news. It’s an interesting way to live, a true lifestyle in and of itself. A tiny home life is incredibly different from living in the city. Check out the video above to learn more about what living a less cluttered life means and how to build a tiny home.
Even if the tiny home life isn’t for you, downsizing to a smaller house is a great way to live a less cluttered life. Naturally, when you downsize, you need to get rid of stuff. With less stuff, you can enjoy a more minimalist home with fewer things to clean, tidy away, and protect when people come to visit.
Thinking About Downsizing Your House in Philadelphia?
There are so many reasons why downsizing to a smaller home in Philadelphia is a good idea. With less house to keep up, fewer things to monitor, and less space to be accountable for, your life becomes more straightforward. But it’s never easy to part with things we love. If you have questions about the move-in and move-out process, dive into our FAQs and you may find your answer.
Brotherly Love Real Estate has helped folks move from house to house after selling a house in Philadelphia. After downsizing, we’ve found that many homeowners are ecstatic with the extra time they now have. They feel free, lighter, and happier. Some things our customers say they don’t miss as much as they thought they would when downsizing include:
- Having multiple floors because it’s hard to keep everything clean
- Heating and cooling a house with multiple floors
- Mowing the lawn and having to landscape every year to keep the weeds away
- Cleaning the gutters to remove leaves
- Organizing the basement and garage
Downsizing to a smaller home is never an easy task. There are lots of emotions and items to go through. Change is hard, but sometimes change is good! The grass IS sometimes greener on the other side. Especially with how beautiful some of the smaller Philadelphia houses can be. Remember that there are always different options to explore, whether downsizing or upgrading. That perfect house exists out there for everyone.
If you want to sell your house fast, give us a call at (215) 326-9208 for an expert valuation from our team. At Brotherly Love Real Estate, we help homeowners sell houses for a good price. Learn more about how we help sell houses fast in Philly.