Have you considered what downsizing can mean to your financial freedom?
Downsizing, typically associated with retirees, can help people at any age. In this post, we discuss ways people from all walks of life are breaking out of the grind by selling a home fast and using downsizing to their advantage.
Limitations of a Big House
American’s infatuation with bigger is better may have run its course in the real estate market, and for good reason. Mortgages are high. Property taxes are high. Maintenance costs are high. Mortgage refinancing regulations are more stringent. The bottom line is, if you can live with a little less, your financial obligations can decrease and your future can look a lot brighter.
Paying Off Debt
The economy left a lot of folks with more debt than they ever imagined possible. The high interest rates associated with credit card debt make the thought of eventually paying off big debts almost unimaginable. Selling a home fast allows you to liquidate, pay down that unmanageable debt and start seeing the light at the end of the tunnel.
Investing in the Future
Anyone who has taken a good hard look at the employment picture over the past 10 years knows that the prospects of getting ahead a grim. Wages have stagnated. Good paying jobs are rare. People are working for less money. Many are underemployed, trying to get by with part-time work.
One big advantage of downsizing is that by reducing monthly financial obligations, pursuing alternatives for education and skills improvement and becoming more marketable in employers’ eyes can become affordable and realistic.
Establishing a Realistic Retirement Plan
Retirement futures aren’t looking bright these days. The economy wiped out 10—12 years of retirement funds that seemingly can’t be replaced. Older workers fortunate enough to have a job can’t afford to stop working. Others, without jobs, are concerned they won’t have enough invested to last a lifetime.
Younger workers can’t make enough to contribute fully to a retirement account or put money aside for savings.
Downsizing is enabling people to plan for and enjoy their retirement years. The extra cash makes saving and retirement contributions realistic and adds to monthly case flow for an improved lifestyle.
Downsizing today isn’t just for the elderly. Folks are making smart decisions by downsizing and finding the means for career advancement, better retirement planning and living debt free.
By selling a home fast and downsizing, you can take advantage of one or more of these lifestyle enhancing ways to improve your financial situation.
Can downsizing help you?
Do you have a piece of property (house, lot, or land) you’d like to sell fast? Fill out our Sell Fast Form and get a cash offer within one hour of us viewing the property.