I recently looked into downsizing my house. This idea came into my head for many reasons, which we can visit another time. I decided to do a little research and see if this was feasible. First, there’s a few things you should know about where I live.
- Frisco, Texas
- Population: 122,000+
- Average income: $101,000+ (over twice the national average)
- Average house size: 3,100 sq. ft.
My house is less than 1,800 sq. ft. I won’t get into my salary here, but I’ll just say God has a great sense of humor having me here in Frisco… for many reasons. Still, I decided to look into downsizing my home, just a little bit.
My options were slim to none. I could buy a foreclosure, a smaller sized one, but by the time you add in the repairs (new house and existing house), realtor fees, cost of moving and the emotional toll on my kids, it’s just not worth doing. I have seen a few people downsize their house, many of them upsizing again.
This whole process intrigues me. I want to know more about it. Who downsizes? Why? I’m doing some research on this topic and I would love your feedback.
- Have you ever downsized your home, or anything else?
- What were the costs?
- Were there any unexpected results?
- In the end, did it accomplish your financial or simplification goals?
- If you looked into downsizing, but it wasn’t a good option, why not?