Did You Know that 6% of Homeowners over 60 years old are Planning on Selling This Year? Are you thinking of Downsizing? Here Are 5 Signs You Might Be Ready
As life evolves, so do our priorities—and that includes where and how we live. If you’re a homeowner with a large property, you may have asked yourself, “Do I really need all this space anymore?”
Downsizing doesn’t mean downgrading—it’s about simplifying, gaining freedom, and aligning your lifestyle with what truly matters now. But how do you know if it’s the right time to make a move? Here are some signals that could mean it’s time to start the conversation.
1. Your Monthly Costs Feel Unnecessarily High
Mortgage, maintenance, taxes, insurance… large homes come with big financial responsibilities. If you’re spending more than you’d like each month—especially on rooms you rarely use—it might be worth considering a more efficient space that frees up your budget.
2. You're Tired of Cleaning Rooms You Don’t Use
Cleaning a large house can feel like a full-time job. If you’re constantly vacuuming, dusting, and maintaining spaces that serve no daily purpose, a cozier, more manageable home could make life simpler and less stressful.
3. Your Spare Rooms Have Turned Into Storage Zones
When bedrooms become catchalls for boxes, holiday decor, and furniture you don’t use, it’s a sign your space isn’t working for you. Downsizing can help you declutter, reorganize, and live more intentionally.
4. Utility Bills Keep Rising
Bigger homes mean more square footage to heat, cool, and power. If your energy bills are soaring, a smaller home could significantly reduce your environmental impact and your expenses.
5. You'd Rather Travel, Relax, or Refocus Your Time
Maybe you’ve reached a stage where you want to travel more, spend weekends with family, or invest your energy in hobbies—not home maintenance. Downsizing can free you up to do just that.
If You're 55+ years old in California, Prop 19 Could Save You Thousands
One of the biggest concerns for longtime homeowners thinking about moving is the property tax jump that can come with a new home purchase. That’s where Proposition 19 offers incredible relief.
Here’s how it helps:
- If you're 55 or older, you can transfer your existing property tax base to a new home of equal or lesser value anywhere in California.
- If your new home costs more, you’ll only pay increased taxes on the price difference—not the full market rate.
- You can do this up to three times, giving you flexibility as your needs evolve.
In short: Prop 19 can allow you to move to a better-fitting home without starting over at today’s high property tax rates.
🏡 Ready to Explore Your Options?
Downsizing doesn’t have to be overwhelming. With the right planning and support, it can be the beginning of your next great adventure—one that gives you more time, more freedom, and a home that truly fits your life today.
Interested in learning what your current home is worth or what’s available in your ideal size and location? Let’s chat.
