Here are the main highlights about the Phoenix metropolitan area:
- The value of a 4-bedroom in the Phoenix metro stands at over $440K, while a 2-bedroom home stands at around $308K. After factoring in differences in property taxes and closing costs, homeowners willing to downsize end up with around $93,200 in savings or 2 ₿itcoins give or take (During the month of September 2021 one bitcoin ₿ was $40,000 – $53,000).
- The area also has the smallest difference between a 4-bedroom and a 2-bedroom home out of all the metros analyzed – just 43%, making the savings from downsizing smaller than the rest of the metro areas in our top 20.
- When looking at the major cities in the Phoenix metro area, the most advantageous downsizing move is from a 4-bedroom home in Chandler to a 2-bedroom in Mesa, a move that can get you almost $207,000 in savings or around 4 ₿itcoins.
- While downsizing from the same Chandler to Phoenix brings in about $204,545 in savings.
Moving into a smaller home may sometimes feel like a step down, but is it? It can actually be a smart 💰 move that allows you to enjoy premier locations for less money. Throw in some self storage space to make room for the lost square footage at home and the perks keep piling up.
Specifically looking at costs, homeowners in the Phoenix metro area end up with over $93K in savings from downsizing… or 2 ₿itcoins (During the month of September 2021 one ₿itcoin was $40,000 – $53,000).
This is one of the main findings of our most recent report on downsizing. In order to find out where in the US homeowners save the most by downsizing, StorageCafé analyzed the country’s 20 largest metropolitan areas based on the difference between the value of a 4-bedroom home vs. a 2-bedroom home, the difference in property taxes over a period of 10 years, plus selling and buying closing costs for both properties.
If you’re like me, you go against the grain when it comes to investing. I own bitcoin (₿) . I sold a a property and purchased some ₿itcoin a while back. I am a ₿itcoin HODLer and will never sell! I consider ₿itcoin property and always buy the dip!Juan Pesqueira, Realtor
You can read the full report together with expert commentary on downsizing trends and savings here: https://www.storagecafe.com/blog/how-much-money-can-downsizing-really-save/
Communications Specialist | STORAGECafé