Even today in a rebounding market, we live with the fact that over forty percent of the mortgages are underwater, which in many cases makes it impossible to sell our current home and downsize into another. The market is rebounding and in some parts of the country like where I live in Denver, CO, Denver gay realtors report home prices have completely recovered except in the very high end, over a million dollars.
I believe one thing this economic meltdown has given us, is an opportunity to look at how we’re living. What have we been spending our money on, what have our priorities been… and, what is important to us. As self-employed individuals, over the past 5 years my partner and I have downsized 3 times, each time we’ve consolidated; sold a few pieces of furniture, stored some art, traded the giant screen TV in for a “not so giant”, and in this process, we’ve been able to pay off debt, save more money and actually be happier in our new smaller home. Remember, everything you own, owns you.
For some people the concept of downsizing is easier said than done. A recent survey showed that some people completely identify with “where they live and what they have”, making the thought of a downsize, or getting rid of “stuff” just too painful to actually implement… not realizing in the end, we’ll all be required to let go of everything.
Although some have been forced to move to a smaller home for economic reasons, for some individuals, moving to a smaller home was something very hard for them to do.
1200 Square Feet is the New 3500, just like 55 is the new 35 ~ Oh and I’m so happy about that!
Remember, less is more. Less home means smaller utility bills, smaller cleaning bills, smaller insurance bills, smaller maintenance bills, smaller “furnishing” bills and of course a smaller mortgage which will be paid off quicker, and all of this means more time for everything in life you love.
David Wann, bestselling author of Affluenza: The All-Consuming Epidemic, tells us many of today’s three-car 900 square feet garages, are about the average size of an entire home during the 1950′s. The result, our happiness has flat lined or declined.
This recession has put the squeeze on many in the LGBT community. Perhaps it’s time to consider downsizing your biggest expense ~ your home.
If you’re considering downsizing and are curious about your specific market and home values, you can receive a FREE competitive market analysis (no obligation) from any of the gay, lesbian or gay friendly realtors at GayRealEstate.com, you may be pleasantly surprised.