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Downsize Your Home, Upsize Your Investment
After your
children have grown up and left the home,
you and your spouse may be left with more space than you
actually need. By
downsizing your home, you may be able
to increase the power of the money you're spending on your
mortgage. After all, with a smaller family at home, you can live
in a
smaller home much more comfortably. By
decreasing the square footage of your home, you may be able to
increase the number of amenities, along with the
value of your investment.
Now that your home is
only for you and your spouse, spend some time thinking about the
features the two of you would truly enjoy. By purchasing a
smaller home, you may be able to add
more of them than you'd think! It might be time to add that hot
tub or swimming pool you've been longing for your entire life.
By decreasing the
size of your home, you'll decrease
the mortgage payments that you're making. This will free up
money to add
extra luxuries to your new home –
enabling you to increase its value.
Take some time to
compare real estate prices in your
area. Look for a home that has a smaller square footage, but
still has enough room for you, your spouse, and any regular
visitors. This may allow you to sell your current home and
purchase a significantly smaller house. Compare the prices of
the two dwellings, to see exactly how much money you'll be
saving. Once the move is complete, you can begin using this
money to
reinvest in your new home by adding
various
improvements. Keep an eye out for
possible
improvements when purchasing. Is the
home you're considering built in a way that is conducive to
remodeling? Is there space for any extra amenities that you're
considering adding? Taking these factors into consideration
before you buy will save you future headaches.
Consult a
home improvement specialist or
contractor once you've purchased your new home, to price the
improvements you'd like to make. Once
you have a quote, you can begin to work the
improvements into your budget, one at
a time. Gradually, you'll see your
downsized new home turn into the cozy
nest you've always dreamed about. Be sure to include features
that make you feel at home, as well as those that make life more
convenient for you. Now may be the time
to improve access pathways to your home,
cutting out steep staircases or driveways. You may also want to
landscape for easy lawn maintenance,
adding
low-upkeep plants in place of
high maintenance grasses.
Take time to consider
how you'd like to customize individual rooms of your home, as
well. Consider adding the
built in kitchen features you've
always wanted, such as spice racks and
cabinet organization. Or
customize the bathroom so that it
suits your needs perfectly. The options are endless once you've
decided to upgrade your home.
Downsizing your home while upsizing
your investment is an excellent decision that more and more
boomers are making. Doing so gives you
the chance to eliminate unnecessary and empty space, trading it
for much needed luxury. After all, you've sacrificed as your
children have grown, ignoring your wants and needs to raise them
well. Now that they're gone,
embrace this stage of your life.
Invest in the amenities that you've always wanted for your home.
If not now, then when? Take the money that you've saved by
downsizing your home and use it to
upgrade your new living space. Doing so very well could be the
best decision you've ever made.
Marcia Chumbley is a
work
at home mom and grandmother in Minnesota. She
is the owner of a
Christian Work From Home Moms
website
at
Faithful Grannies
http://www.faithfulgrannies.com
bringing generations of
Christian Work From Home Moms,
Grandmothers, Parents, Boomers and Families together
while providing resources, inspiration and affordable
advertising while balancing the work at home experience. She
holds a degree in Business and is a CMOM.
Article Source
CWAHGrandparents.com
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