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Should You Downsize Your Chester County PA Home?

by Scott Darling

There are many reasons to consider downsizing your present living quarters—retirement, an empty nest situation, financial pressures, a desire to have more free time, health conditions, etc.—but it is not a decision to be made without first doing extensive research, examining your finances, and evaluating the emotional impact of such a move.  As with any major change which affects your life, there are both pros and cons to be recognized and analyzed before taking—or not taking—the final step.  It is wise to consult a Realtor who specializes in downsizing and to read this article on the subject from Smart Money magazine as you investigate the possibility of leaving your Chester County PA home for a smaller residence.

Reasons to stay where you are might include:

  • Needing the room you have in your current Chester County PA home for guests and visits from family, especially grandchildren!
  • Being unable to part with so many treasured items or large furniture pieces
  • Requiring a great deal of storage space
  • Feeling comfortable in a large home where you have room to move around
  • Belonging to a familiar neighborhood surrounded by friends
  • Finding the task of packing and moving too daunting to consider
  • Paying high HOA fees and living with restrictions in a condo or townhouse community.

Reasons to downsize include:

  • Increasing your monthly cash flow.  Downsizing will result in a smaller mortgage payment; lower utility bills, maintenance costs, and property taxes; and less expensive insurance on your new home.
  • Having extra free time once spent on cleaning, doing yard work, and maintaining a larger home.
  • Enjoying an easier, less stressful lifestyle with fewer responsibilities.
  • Moving to a neighborhood of like-minded individuals—a golf or tennis community, e.g.
  • Planning ahead for unforeseen health problems and aging.

If, after weighing both the pros and cons, you decide to downsize your Chester County PA home, there are many sites on the Internet that can help you analyze your finances, estimate moving costs, deal with the emotional factor, and organize the downsizing process itself.  RISMedia offers five solid tips for efficiency, and About.com deals with market timing and when to sell your current home (answer: before you buy a smaller one!)

It is also helpful to personally talk with others who have downsized, Those who decided not to, a Realtor, and your accountant.  This is, after all, a major step in your life, and the more input you receive, the easier it will be to make an intelligent decision.

Quick Fixes for Common Bathroom Plumbing Problems

by Scott Darling

chester county pa real estate

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Scott Darling
RE/MAX Action Associates
403 W. Lincoln Highway #101
Exton PA 19341
(610) 594-SCOT
610-363-2001
Fax: (610) 363-5275