Want to Lower Your Housing Costs? Downsizing Isn't Always the Answer

Maurie Backman, The Motley Fool
·4-min read
Want to Lower Your Housing Costs? Downsizing Isn't Always the Answer

No matter your situation, housing is probably one of your largest monthly expenses, maybe the largest, so lowering it could work wonders for your budget. Moving from a 3,400-square-foot home to a 1,700-square-foot home with comparable features in the same neighborhood will probably save you some money. While smaller homes are often cheaper than larger ones, whether downsizing actually saves you money hinges on the specifics of your current and future homes.