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Relax.Turn Downsizing into Smart Sizing!
By Guest Contributor Terea Jennings

If you are thinking of downsizing your home, don’t be anxious or discouraged. You’re not alone.
People of all ages are walking away from the expenses and responsibilities of a huge, lumbering property. Don’t think of downsizing as losing the game – think of it as choosing to play a different game. Size down and cool off – a few extra rooms aren’t worth the hair-pulling stress of a property and mortgage that no longer fit your needs.
Many people are looking at ways to smart size their homes, especially as they grow older and children fly the nest. People smart size for various reasons, of course. You might be pleasantly surprised to learn that there are many benefits of smart sizing, both financial and otherwise.
As someone who’s taken the plunge, I understand the advantages of making this type of move. Please allow me to share my realizations with you.

The Financial Benefits of Right Sizing
One of the clear advantages is just what you’d expect: improved cash flow. For example, I stopped spending on heating rooms that were no longer in use. I found that moving to a smaller, more practical home meant more money at the end of the month. Would you rather spend money on space you don’t need, or enjoy a more carefree lifestyle and laugh at the old, stressed out version of yourself?

Lower or No More Mortgage Payments
Besides spending less money on bills, I had no mortgage payments to worry about. Because I owned a large home, I was able to tap into its equity and fund my new smaller home outright, therefore living rent and mortgage free. Can you imagine how well you’ll sleep without rent or a mortgage?
Of course, this may not be the case for everyone. Some people may still have mortgage payments, but these should be significantly lower on a smart sized home.

Non-financial Benefits
In addition to saving money, I found that I saved time as well. Less space to fret over means fewer places to clean and a significantly smaller garden landscape. Spend less time maintaining your home and more time actually enjoying it. Plus you’d be surprised how well even a small garden space can fit a hot tub or soaking pool.
I find that I am leading a less stressful life, too, and not just because of a small garden oasis. I don’t have to worry about missing a mortgage payment, I don’t freak out about spending all of my free time cleaning and doing yard work and I am paying less for utilities. Living large often mean living expenses that feel like pushing a stone uphill in a rain storm. No need to get rained out or tapped out when you can slip out instead!
I was surprised just how drastically my quality of life improved. I now have the freedom and the money to go out and embrace the fun activities I never had the time, cash, or energy to do before. That’s the gift of time, happiness, hobbies, work you love and life. What’s your pleasure? Does a jet ski look like a joyous romp? Or, just kicking back with friends and family? Maybe you will start a new business…

A mortgage and maintenance, don’t have to be an insurmountable wall blocking you from all the best parts of life. Smash that wall down to a manageable height and knock a doorway in it. Walk through and begin to explore the next chapter in your life.

The first questions you should ask yourself, or discuss with your realtor, are “Is it time?” and “What is smart sizing for me?”

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Guest contributor Terea Jennings is a client of KMS Partners at Coldwell Banker and owner of MorningStar Community Marketing & Social Media.

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