Weekly Real Estate Market Report For March 21st, 2018

By / Local Businesses / Monday, 19 March 2018 01:08

7 Ways Downsizing Saves Money

I hope you are having a great week!
Downsizing is hardly a dirty word these days, especially as Baby Boomers begin to question the size of their home, and more Millennials are finally making their way into the world. Home ownership is a good investment at any size, and if you’ve ever wanted to free up some cash for the rest of life’s joys (travel? new hobbies? investing?), downsizing can be a great way to rightsize your budget. Here are seven ways downsizing can foster a little more financial freedom:
1. Utility costs. If your gas and electric bills have been climbing year over year, consider the pleasant surprise of heating and cooling 1,200 sq. ft. instead of 3,500. Controlling the climate in empty spare bedrooms is pointless when you don’t need the room. What’s more, you can count on fewer houseguests with less space, and this, in turn, can decrease utility costs.
2. Maintenance costs. How big is that lawn? How many rooms need to be refreshed with a coat of paint? How many windows do you need to wash, and what about the size of that driveway that must be repaired and sealed?
3. Insurance. Your insurance bill is based in large part on your appraisal, and if your new home is smaller, your insurance bill should shrink as well. (This can vary based on location and levels of coverage, of course, but you would be hard pressed to insure less for more!)
4. Property taxes. Much like insurance, tax rates tend to be based on a percentage of assessed value. Here’s a few more dollars back into your wallet.
5. Repairs. How many toilets do you need to have fixed? Appliances? Light fixtures to keep lit? The smaller home has fewer leaking faucets and a smaller roof to replace. Your overall spend on maintenance goes down when you have less home to maintain.
6. Furniture. Downsizing is a perfect opportunity to sell excess furniture and find keep only those pieces well-loved or essential for your new smaller space.
7. Hosting and entertaining. When you’ve got that sprawling home, your place is ground zero for out-of-town guests, relatives, and holiday parties. As your space shrinks, so does your annual hosting and entertaining budget. Besides, if you really want to throw a shin-dig, you can take some of that downsizing cash and pick a perfect venue. 
Looking to downsize and redirect that extra cash? Maybe a condo at the beach with nice ocean views, or a patio home with amenities? I am here to help and can be reached at 910-352-0998, or This email address is being protected from spambots. You need JavaScript enabled to view it.
My cell is 910-352-0998, or email This email address is being protected from spambots. You need JavaScript enabled to view it.
Your Weekly Real Estate Report is provided by Justin Donaton of Coastwalk Real Estate. Any data provided, unless otherwise noted, is courtesy of the Cape Fear REALTOR Association / MLS and/or the National Association of REALTORS.
Justin does not just "list" properties, he sells them! To get your home SOLD for the highest possible price, call Justin at 910-352-0998. Justin has been the TOP SELLING real estate agent on Pleasure Island since 2007. His business is built on hard work and high-impact marketing. Coastwalk Real Estate is also a TOP SELLING real estate firm in Carolina & Kure Beach. Please visit:  www.CoastwalkRealEstate.com for more info.
The Weekly Market Report is a Paid Advertisement Compliments of Coastwalk Real Estate.

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Super User

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Carolina Beach North Carolina

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