Ozark Living

Individuals work hard to save enough money to purchase their homes. And the hard work doesn't end there. Once homeowners settle into a new home, they may set their sights on renovations that suit their individual needs. And even when buyers find a home that needs no such work, maintenance requires homeowners' utmost attention. All that hard work is perhaps one reason why seniors may be a little reluctant to downsize as they advance through their golden years. In addition to the sweat equity homeowners put into their homes, all the memories they've made within their walls can make it harder to put a home on the market. Downsizing is a difficult decision that's unique to each homeowner. Seniors who aren't quite certain if downsizing is right for them can consider three key factors to make a decision that's in their best interests. Cost Perhaps no variable affects senior homeowners' decisions to downsize their homes as much as cost. No one wants to outlive their money, and downsizing to a smaller home can help seniors reduce their monthly expenses by a significant margin. Even homeowners who have long since paid off their mortgages can save substantial amounts of money by downsizing to a smaller home or even an apartment or condominium. Lower property taxes and reduced insurance premiums are just some of the ways downsizing can save seniors money. Space Many people love the extra space that single-family homes provide. But seniors can take a walk through their homes and see how many rooms they still use on a consistent basis. If much of the home is unused, seniors can probably downsize without adversely affecting their daily lives. Market e real estate market is another factor to consider when deciding if the time is right to downsize. A seller's market can help seniors get the biggest return on their real estate investment, potentially helping them make up for meager retirement savings. For example, home prices skyrocketed across the country during the COVID-19 pandemic, making that a great time for sellers to put their homes on the market. Seniors selling to downsize may capitalize on such spikes since they won't be looking to turn around and buy larger, equally expensive homes once they sell their current place. If the market is down and seniors can withstand the work and cost a little longer, it may be best to wait until things bounce back in sellers' favor. How to determine if it's time to downsize 888-419-4906 Say Goodbye to CloGGed GutterS! Call today THE ONLY ONE-PIECE COVERED GUTTER LeafGuard brand by Englert is the original and only one- piece gutter system, with a built-in hood that covers the gutter bottom and deflects leaves and other debris. This unique, seamless design keeps debris from collecting in your gutters which: • Prevents clogs from forming • Keeps water flowing freely • Eliminates leaks and the threat of water damage • Makes climbing ladders to clean gutters unnecessary 479-221-9599 | 888-419-4906 www.leafguardandmore.com Best BestNWA.com of Northwest Arkansas the 18 • February 2022 • OZarK LIVING

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