Downsizing Doesn’t Always Lower Housing Expenses
A smaller home doesn’t always come with a smaller mortgage. In an effort to trim housing costs, some homeowners may be looking to switch to a smaller house, but economists say that’s not always a cost-saving move. “There are times when [moving to a smaller home] could have the opposite effect,” David Mele, president of Homes.com, told U.S. News & World Report. He points to a possible increase in taxes, moving expenses, insurance, and more that could make downsizing pricier. Read more HERE.