When people hear the word downsizing they have a strong opinion against it and think of it as a negative process. People downsize for a variety of different reasons whether it be retiring, financial reasons, become environmentally friendly, or are empty nesters. The saying “Bigger is better” is no longer the norm when it comes to Bay Area homes. There has been a shift from the larger the home being a status symbol of success to the efficiency of the home. Before downsizing from your Blackhawk home to another Bay area home there are some things to consider.
In order to get greater financial gain out of selling your Blackhawk home, you need to consider the current real estate market in the Bay Area. If the market is down then you may want to hold off selling your Blackhawk home because you won’t be able to get as much money for your home. If the market is up then it can be a great time to downsize because you can get more equity out of your Bay Area home. However, the challenge here is that if you are planning to buy a home in the same area you may pay a higher price for a smaller home too.
A benefit to downsizing is lower maintenance. A smaller Bay Area home has fewer rooms thus making it easier to maintain and clean. The Bay Area yards tend to be smaller when you downsize which means not only less house maintenance but less yard maintenance. You won’t have to spend your day off cleaning the house from top to bottom.
Lower Utility Bills
Another benefit to a smaller Bay Area home is that the amount of water and energy consumed is much less compared to that of a larger home. You will see a drastic drop in your water and energy bills when you move from your Blackhawk home into a smaller Bay Area home.
One disadvantage of downsizing is that there will be less space. All of your current belongings will not be able to fit into a smaller home. You will have to sell or give away a lot of your belongings in order to have room in your smaller home. Not only will there be less space for your belongings, but the holidays may not be able to be at your home this year. If you have a large family and everyone comes over for a big feast this may be too hard in a smaller home. There won’t be the same amount of room in the kitchen and entertaining areas for everyone like there is in your larger home.
Taking these into consideration before you downsize from your Blackhawk home into another Bay Area home can help you make the right decision on whether now is the right time. Some people are resistant to change and this maybe too much change at once and decide to put off downsizing for a bit longer. You have to ask yourself, am I ready to give up all this space for the benefits of having a smaller one?