Downsize Your Home To Downsize Expenses in St. John's Newfoundland

Lately we have been working with alot of clients who are looking to move into a smaller home after their children have grown up and moved out of their family home. Downsizing your home is most commonly associated with empty-nesters and retirees looking for smaller spaces after the kids have moved out, but it's also becoming a more popular move for a growing number of hard-working, money-smart homeowners. It's also a move that makes a lot of financial sense.

We couldn't help but look at the positives of downsizing your home. Moving can seem rather daunting to some empty nesters. So if you're considering "downsizing" to a condo, new ranch style home, or anything smaller, plan for the major adjustments ahead of time!

Downsizing your house is great way to lower your real estate taxes due to the lower assessments on a smaller home, but it's also an excellent opportunity to move yourself right into a new neighborhood - preferably one with lower real estate taxes and lower income taxes. Better still, it may be a chance to move to place that has a lower overall cost of living.

The site of your primary residence can have a big impact on the cost of groceries, gasoline, car insurance,  commuting and more. A new location can result in a shorter trip to work and may, if you move from the suburbs to the city, enable you to get rid of your car altogether.

Some tips on getting started before you make the move is to carefully consider your furniture placement options that will use the space as efficiently as possible. Then reduce clutter by storing or sharing keepsakes and unused items. son you will be able to concentrate on the enhanced lifestyle benefits enjoyed by so many condo residents:

Looking Beyond the MoneyIn addition to substantial cost savings, moving to a smaller place has other benefits. For example, you're likely to have substantially less work to do around the house. With your newfound time, you can start a hobby, visit friends, travel or simply relax instead of spending hours cleaning, improving, or fixing your too-big house. You can even move to condominium and delegate most of the chores to the maintenance man.

Stopping to Think FirstBefore you trade your home for a smaller one, please consider all of the angles. Carpenters say to "measure twice, cut once".  Think about your current home: How many rooms to do you have? How many of those rooms do you actually use? How much time do you spend in that basement that you have to pay to heat and cool? But before you call the movers, remember think through your reasons for moving. Is a new lifestyle right for you? Can you live in a place where the neighbors are close? If the condo doesn't allow pets, will that bother you?

Like any major lifestyle decision, planning is the key to success. Plan first, then move! It just takes a little bit of strategy to make sure that you are doing the right thing and that you won't be sorry about it after the fact.


for more information on downsizing your home or for your to learn how to get your home sold guaranteed so you are not carrying 2 mortgages at once, please feel free to contact us anytime at 709-764-6161 or email us info@williamshollett.ca 


 
The Williams Hollett Sales Team is your award winning team. We specialize in Residential & Commercial Real Estate in St. John's, Newfoundland, providing a unique and client focused approach to buying and selling real estate! we are your number one resource for real estate in St. John's, as well as for surrounding communities and towns like Torbay, or Mount Pearl and Paradise. For MLS listings and information on neighbourhoods, or information on new home construction in St. Johns, we are your team of experts!

to view of all our listings or for more information visit www.williamshollett.ca

“Urban housing starts decreased during the month of July, according to preliminary released today by Canada Mortgage and Housing Corporation (CMHC)"

 St. John’s Real Estate July Housing Starts
August 10, 2010

Just released from CMHC: Housing Now publications press release for housing starts in Newfoundland and Labrador.

“Urban housing starts decreased during the month of July, according to preliminary released today by Canada Mortgage and Housing Corporation (CMHC). July’s housing starts totaled 176 throughout the St. John’s area versus 216 starts in July of 2009. There were 19 additional starts recorded outside the St. John’s area, for a total of 195 provincial urban starts compared to 270 last July. Year to- date, starts remain positive, with 998 recorded in the St. John’s region versus 875 last year.


“July’s decline in the number of new homes started is in line with the current forecast and the expectation that starts will slow over the remainder of 2010,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “New home demand was steady in the first half of 2010, but will continue to be lower in the coming months, due to recent price growth and record high home prices,” added Janes.

In urban centres across Canada, total housing starts increased 34 per cent with 15,195 recorded in July compared to 11,313 during July of 2009. Throughout Atlantic Canada, there were 1,208 urban housing starts posted versus 954 the previous July, an increase of 27 per cent.”