March 10, 2014 10:00 am
When you are retired and still live in the home that once accommodated the entire family, the idea of downsizing may cross your mind on a daily basis...
- 4 bedrooms to be cleaned, maintained, and heated versus a cozy ranch with 2 bedrooms.
- A large but rarely used living room, dining room, and family room versus an all-in-one Great Room.
- Half acre lawn to be mowed instead of a courtyard or patio.
Besides heating and maintenance costs there are real estate taxes to be paid and all of the afore could shrink considerably when downsizing. But moving costs money too.
Follow this link to an article that discusses both sides of the spectrum including the gains and costs involved. http://finance.yahoo.com/news/hidden-costs-downsizing-home-retirement-100000937.html