Are you overwhelmed by the cost of your mortgage or have an empty nest?
Here are the advantages and disadvantages to downsizing.
Save money — There’s no reason to make high monthly payments for a house with empty rooms.
Save time — Fewer rooms means less cleaning.
Become more organized — If your home is cluttered, downsizing will force you to get rid of things you don’t need.
Harder to host parties — You won’t be able to host friends and family as comfortably in a smaller house.
You might feel cramped — Downsizing generally means having significantly less storage space.
Loss of prestige — If you take pride in having a large home, downsizing may not be right for you.