I currently live in a sizable house. Nothing huge but certainly not small. It has 4 bedrooms, two of which I don’t even use anymore. I split up with my fiance and she moved out. She made use of the two extra rooms. I intended on having them for children in the future and those plans are not nearly as close anymore. So I am considering downsizing to a smaller, two-bedroom house. I still owe money on this one but I can sell it and likely get a nice profit off it. Would the utilities be noticeably less?
This depends on the area you live in but generally, your costs will come down. Water will likely be about the same but if you downsize, gas and electric will definitely be cheaper. I would say to think about your future. Map out the next 5 years and go from there.
While I don’t own a house, if I was able to wait out the market inflation, I would. There is a good chance you might be able to get more money next summer for your house. I mean you might be able to get as much as 30k more depending on what happens and the size of your house. I would wait a bit.