How to Know When It's Time to Downsize (or Upsize) Your Home

The decision to change your living situation is a major one, influenced by various life stages and personal needs. Maybe you feel the walls closing in with a growing family or want a quieter neighborhood as your children move out. Regardless of the reason, knowing when to upsize or downsize your home can significantly enhance your quality of life and financial situation.

​At Golden Homes Group MN, we’re exploring the key signals that it's time to make a change. Keep reading to learn more about downsizing or upsizing your home.

Reasons It Might Be Time to Downsize

You’re Retiring or an Empty Nester
Retiring or becoming an empty nester often ushers in a new phase of life where large family homes may no longer be practical or necessary. Downsizing to a smaller home can reduce maintenance efforts, lower utility costs, and minimize property taxes, making it easier to manage day-to-day living. Real estate professionals like Sheri Wessel and Melany Thelander can help identify properties that better suit a more streamlined lifestyle, focusing on senior-friendly communities or areas that offer access to healthcare, leisure and other services.

You’re Overwhelmed By the Upkeep
Maintaining a large home and yard can quickly become challenging and costly. If you once took pride in a well-manicured lawn, beautiful garden or sparkling windows but now find that these tasks bring you stress instead of joy, it might be time to consider downsizing to something more manageable. A townhome or condo with an HOA that takes care of landscaping, snow removal and repairs could be the perfect fit, providing you with a low-maintenance housing solution.

​Your Finances Could Use Some Breathing Room
​Living in a home that stretches your financial resources can leave you feeling “house poor,” restricting your ability to enjoy other life experiences, such as travel, hobbies and outings. If most of your income is going toward your mortgage, taxes, utilities and upkeep, downsizing can be a financially smart decision that gives you some much-needed breathing room. Real estate services are invaluable here, as professionals like Sheri Wessel can provide market analyses to maximize the return on your larger home and find you a more affordable living option.

Reasons It Might Be Time to Upsize

You’re Expanding Your Family
If you’re expecting a new baby or planning on more children, additional space can make life easier and more comfortable. Upsizing to a home with more bedrooms, a larger kitchen or open living areas can provide you with the room you need for your growing family. Golden Homes Group MN can help you find the perfect house with kid-friendly features, such as a playroom and a safe backyard, and look for properties in areas that are ideal for families of all sizes.

You’re Expecting Parents or Grandparents to Move In
Multi-generational living can enrich family life but might require more space. Upsizing can ensure that everyone has their privacy while sharing common spaces comfortably. This could mean looking for homes with separate living quarters or a “mother-in-law” suite. Partnering with a real estate agent you trust can help you find a home that meets your family’s needs.

​You Simply Need More Space
Whether it’s because you’re working from home more, your lifestyle has changed or your collection of Beanie Babies and Star Wars memorabilia is taking over your current space, needing more room is a common reason for upsizing. A larger home allows for dedicated rooms that you can turn into an office, a gym or a workshop, depending on your particular interests.

Making the Decision

The decision to upsize or downsize often involves not just financial considerations but emotional ones as well. It's important to assess your current lifestyle needs and future goals. Consult with family members and consider your long-term financial health. We also recommend speaking with a real estate professional who can provide insights based on current market conditions and help evaluate the potential costs involved with moving.

To help you make the right choice for your family, here’s a checklist to go through when deciding whether to downsize or upsize your home:
 

• Consider your reasons for upsizing or downsizing. Are you happy with the decision? If not, are there other solutions available?
• Think about where you’d like to live. Do you want to stay in the same area, move into (or outside) the city, or escape to a quiet, seaside town?
• Do you want to pay off your mortgage fully before selling your home?
• If you’re downsizing, start getting rid of clutter and unwanted items. This makes it easy to pack for your move and leaves the space tidier for staging your home.
• If upsizing, talk to your family about how much space you’ll need. How many more bedrooms do you need for your kids? Are your parents or grandparents moving in? 
• As you get ready to move, take note of all your smart devices. These may need to be reset or transferred to the new owners when you sell your home. 
• Start looking for a qualified real estate agent you can trust, like Sheri Wessel or Melany Thelander at Golden Homes Group MN.

For those in the Twin Cities metro area, the experienced team at Golden Homes Group MN is equipped to guide you through the process of upsizing or downsizing. We can help assess your unique needs, find the right property and ensure a smooth transition into your new home.
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Ready to Downsize or Upsize Your Home? Contact Us

At Golden Homes Group MN, we provide personalized services to help you find a home that fits your lifestyle and budget, whether it's upsizing for more comfort or downsizing for convenience and financial freedom. Let’s make your next move a success — contact us today to get started! 

Sheri Wessel
Office: 651-379-5252
Mobile: 651-270-7157
Email: [email protected]   

Melaney Thelander
Office: 651-379-5252
Mobile: 651-500-8789​
Email: [email protected]   

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