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If you’ve been toying with the idea of downsizing—whether to cut expenses, be closer to family, or just simplify life—you’re not alone. But here’s something you may not have realized: more homeowners than ever are buying their next place in cash. No mortgage. No monthly payments. Just peace of mind and financial freedom.
A Record Number of Mortgage-Free Homes
Did you know over 40% of U.S. homes are mortgage-free right now? That’s nearly half of all homeowners owning their homes outright. A big driver? Baby Boomers who’ve stayed in their homes long enough to pay them off completely. If you’ve owned your place for a while, you might have more buying power than you think—without even realizing it.
Equity = Your Superpower
Your home equity is like a financial cheat code. If you’re mortgage-free (or close to it), you can sell your current home and use the proceeds to buy your next one in cash. That means:
- No mortgage payments in retirement
- Lower monthly expenses if you choose a smaller home
- A faster, smoother buying process with fewer headaches
Imagine walking into your next chapter without debt hanging over your head. That’s real freedom.
A recent survey from John Burns Research and Consulting (JBREC) and Keeping Current Matters (KCM) shows that all-cash purchases are on the rise nationwide, with agents reporting growth in nearly every region of the country (see graph below):
The Cash-Buyer Trend Is Growing
Across the country, more homeowners are making all-cash offers—and not just investors. Everyday sellers and downsizers are joining in. For Baby Boomers especially, it’s a smart way to reduce stress and gain control. Downsizing into a smaller, less expensive home doesn’t mean downgrading your lifestyle—it means upgrading your quality of life.
Think: less yard to mow, fewer rooms to clean, and more time (and money) to spend on what actually matters to you.
The Bottom Line
Downsizing isn’t about giving up—it’s about moving forward. If you’ve built equity, it might be your ticket to buying your next home in cash and stepping into retirement debt-free and stress-free. Why not explore what’s possible?