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Should You Downsize Your Home?

downsizing

Many people find themselves downsizing, motivated by debt, an empty nest or retirement. However, determining how much smaller to go can be tricky.

Finance guru Dave Ramsey says the average family in America has “plenty of room to downsize their home without cramping their style.” According to the United States Census Bureau, Ramsey elaborates that in the 1950s, middle-income Americans homes were around 1,000 square feet or less, as opposed to today’s typically 2,600 square feet plus – new single-family home.