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Although downsizing is usually a popular choice for retired homeowners, there are many other life changes that could make downsizing a good option.  According to US News, "younger people are also looking for downsize to save money on housing."

During the inflation that we have been experiencing, it is especially worthwhile to save money.  On a positive note, when you downsize your housing, this often leads to a lowering of bills from all things that come from owning a smaller home, including lower mortgage payments, energy costs and maintenance costs.  In this market especially, if you have owned your current home for a few years, downsizing could also lead to a windfall of cash due to the equityt you've gained in your home.  Homeowners who downsize are able to put considerably more money down on a new home or purchase with cash relieving them of a mortgage payment altogether.  Some homeowners are able to put more funds away for retirement and college expenses or pay off long-standing debt.

It's important to ask yourself what housing needs you have and if that has changed.  Call your Realtor to talk this through.  They can give you an idea of how much equity you currently have and what the savings could look like.