If the only reason you are thinking of a move is lower taxes, think again. Over the years of raising a family and advancing careers, taxes that go up every few years are overlooked. But, as we get ready for retirement or a change in career, concern about cost of living moves up the list. All of a sudden, the idea of moving away from the neighborhood, selling the family home and relocating somewhere new, with lower TAXES, seems like a great idea. It may be, but low taxes alone are not enough of a reason.
We are talking about our life after all and there are a variety of ways to reduce our cost of living if and when we can actually retire!
Move locally. Do you love the town you live in but your house is more than you can handle? You could sell your home and buy a smaller home or even a condo in the same general area. Do you live in an area where prices have come down significantly? If you own your own home outright, you could take advantage of a good opportunity to buy now and wait to sell your own home when the market improves.
Update your existing home and make it more energy efficient. Replace old doors and windows. Replace an outdated furnace with a state-of-the-art efficient HVAC system. Replace your old water heater with a new Tankless Water Heater. Add Solar panels to your home. Install a wind turbine in your back yard. Take advantage of both federal and state tax credits and grants for your efforts and watch your monthly gas and electric bills go down.
Remodel your home and add features that will make your home more livable in the future. Find room for a first floor master suite or add on to your home to create more first floor living space. Update your master bath with a new spa bath and walk-in shower. It’s not only fabulous looking, it can be built barrier free. Convert an extra bedroom into a home office or space to pursue your new hobby or craft.
Doing small things can get you excited all over again about your home, your town and your life. If this works for you, stay where you are and send me an email saying “Thanks Kathy”. If not, give me a call and we’ll find you a new home here in Coastal Delaware.