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Selling your big home to move to a smaller home

Alexandoy

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A cousin who has a big house sold it when he retired. His reason is there are only 2 of them, he and his wife, so they do not need a big house. He bought a small land in the suburbs and had built a bungalow with 2 bedrooms. It is a nice home that is cozy. He also has a big savings from the proceeds of the sale because his new home costs just about a third of the amount of the sale.
 
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Sprite1950

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I have done this in the past. I sold my 3 bed house for a 2 bed because my son had left home and there was only my daughter and myself. I had a sofa bed in case of guests which I put up in a small office like room. It did save money as the bills were slightly cheaper but the actual cost of moving was expensive.
 
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I think he made his decision well.There is no point in living in large house if wont be able to manage it well,or if you are broke,or want to save.
 

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