There are new trends in real estate! One of the trends is looking for smaller homes. One demographics is looking for smaller homes for many reasons; families have fewer children on one end of the spectrum, the average 2.5 children under the age of 18 per household have dropped, now coming in at an average of 1.93. Consequently, some homeowners have an extra room that starts to accumulate ‘junk’ or becomes an empty room.
Additionally, many people have been retiring recently trying to pursue new hobbies or trying to check off different things on your bucket list. That may translate in becoming more active outdoors, more travel, or some other adventure. As a consequence, we don’t spend so much time at home.
Whatever the reason you are considering a move to less space, it is helpful to have as much information as possible to make an educated decision when weighing the pros and cons. Read on to learn more about these five benefits of downsizing your house in McAllen.
Less Stuff
Owning things means you must find a place to store them; the less stuff you have, the fewer life costs. Smaller spaces by their nature force homeowners to be more selective about their possessions. However, before you start, you should be aware that the organization of like items and thoughtful utilization of storage space is key to successful living in a smaller area. The process of letting go of the extras can be quite uncomfortable; however, it can also be very freeing, finding yourself relieved of the burden of cleaning and caring for all of that extra stuff. If you haven’t used some things for several years, maybe you can donate them to a family that may give them a better use. Saving time and energy for more enjoyable activities is an unexpected benefit of downsizing your house in McAllen.
Lower Utility Bills
Smaller living quarters will translate in lower utility bills. In addition, installing extra insulation and off-grid resources such as collecting rainwater and adding solar paneling can lower costs for utilities even further, as will upgrading to more energy-efficient windows and installing awnings. Finally, purchase energy-efficient appliances to realize the most savings on energy. Over the year, these savings add up to a money-saving benefit of downsizing your house in McAllen.
Lower Taxes
The value of your home influences directly your property taxes, and with less home, there will be less property tax due, which is one more cost-saving benefit of downsizing your house in McAllen. Often, smaller homes, such as mobile homes, are not considered real estate if you do not own the land the home sits on, and any taxes paid are significantly less for personal property.
Lower Insurance Cost
Another benefit of downsizing your house in McAllen is that less cash from your pocket will go towards homeowners insurance when you own a smaller home. Insurers base their rates on a replacement per square foot basis, so less will mean lower insurance payments. Like those at Dolfin RGV, professionals in the real estate industry are familiar with many ways you can save further on homeowners insurance.
Lower Mortgage Payments
Last but not least, the saving on the mortgage payment is a motivating factor for many homeowners and is the most significant of the benefits of downsizing your house in McAllen. Because the home is less expensive, buyers can often pay for a smaller home in full from the proceeds of their existing home and begin living life mortgage-free. But, of course, you must still do your research to ensure that your real estate investment is sound and holds value over the long term. Take the time to perform due diligence and work with a local expert who knows the area, like the professional buyers at Dolfin RGV.
Ready to learn more about the benefits of downsizing your house in McAllen? A professional buyer like those at Dolfin RGV will take the time to answer any questions or concerns you may have about making a move to a smaller home. So you can decide what is best for your situation, why not work with a professional buyer from Dolfin RGV who will help you discover what your home is worth on the market today, with no obligation. Then, you can compare this to our cash offer, which you will agree is more than fair. In addition, Dolfin RGV provides you with a guaranteed closing date convenient to you. With no closing costs, no commissions, or hidden fees, you will save time and money with a direct sale to Dolfin RGV. At Dolfin RGV, we want you to feel good about working with us long after the deal is closed. Contact Dolfin RGV at (956) 904 5234.