Downsizing isn’t about having less—it’s about living more comfortably.
If you’ve been considering a move to lower expenses, simplify your lifestyle, or live closer to family, there’s a growing trend that might inspire you: more homeowners are purchasing their next home outright, without taking on a new mortgage. That means no monthly housing payments—just freedom and peace of mind.
A Record Share of Homeowners Are Mortgage-Free
Recent analysis from ResiClub using Census data shows that over 40% of U.S. owner-occupied homes are now mortgage-free, the highest share ever recorded. That’s 4 in 10 homeowners owning their homes outright.
One key factor? Demographics. Baby Boomers, many of whom have stayed in their homes long enough to pay off their mortgages, now hold significant buying power. If you’ve owned your home for years in places like Tacoma, Puyallup, Auburn, Sumner, SeaTac, Des Moines, Burien, Normandy Park, Lake Tapps, or Bonney Lake, chances are you’ve built up equity that could make a cash purchase possible for your next move.
Turning Equity into Buying Power
Your equity is one of your greatest advantages. If your current home is paid off—or close to it—you could sell and use the proceeds to buy your next home in cash. That gives you:
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No monthly mortgage payment in retirement
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More cash flow if you downsize to a smaller, less expensive property
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A simpler, faster transaction when buying
Nationwide, the share of all-cash buyers is climbing, according to John Burns Research and Consulting and Keeping Current Matters. This is especially true for Baby Boomers, who are leveraging equity to secure stress-free, mortgage-free living in their next chapter.
The Bigger Picture
For many, downsizing doesn’t mean downgrading. It’s a way to reduce upkeep, cut costs, and create more flexibility to enjoy what really matters. Whether it’s moving closer to family in Burien or trading into a low-maintenance home near Lake Tapps, your equity can help make it happen.
If you’re curious about how much buying power your home gives you today, check your options with a trusted local real estate expert. Visit this resource to explore your next move with confidence.
