If you’ve been thinking about downsizing to cut expenses, move closer to family, or simply make life easier, there’s a powerful trend you’ll want to know about:

More and more homeowners are buying their next house outright — no new mortgage, no monthly payment. And if you’ve owned your home here in Utah for a while, you may be in a position to do the same.

A Record Number of Homeowners Are Mortgage-Free

Recent Census data shows that over 40% of U.S. homeowners now own their homes free and clear — the highest number on record. That means 4 in 10 homeowners no longer have a mortgage.

One big reason? Demographics. Many Baby Boomers have stayed in their homes long enough to completely pay off their mortgages. If that’s you, you may have more buying power than you realize.

And that’s where opportunity comes in.

How Utah Downsizers Are Turning Equity Into Buying Power

Your equity is your greatest advantage in today’s real estate market. If your current home is paid off — or close to it — you could use the proceeds from your sale to buy your next home in cash.

That means:

• ✅ No new mortgage payment in retirement

• ✅ Lower monthly expenses if you choose a smaller, more affordable home

• ✅ A smoother, faster transaction

It’s simpler than most people think. You sell your current home, use the equity, and purchase your next home outright. And you’re not alone — a growing number of buyers nationwide are making all-cash purchases, especially in the downsizing demographic.

Downsizing = A Lifestyle Upgrade

For many Utah homeowners, downsizing isn’t about giving something up. It’s about gaining freedom.

Imagine:

• Less upkeep, more time for the things you love

• Lower housing costs and more flexibility with your money

• The chance to live closer to family, or finally in that dream neighborhood you’ve always wanted

That’s why we like to say: downsizing doesn’t mean downgrading. It’s about upgrading your lifestyle.

Where Utah Homeowners Are Downsizing

Here in Salt Lake County and the surrounding areas, we’re seeing many homeowners make the move to communities that better fit their new lifestyle:

• Daybreak (South Jordan): Perfect for those who want a walkable community with lakes, trails, and neighborhood events.

• Herriman & Riverton: Growing areas with newer, low-maintenance homes and easy access to family-friendly amenities.

• Sugar House: For those who want a vibrant, city feel with charming smaller homes, restaurants, and parks.

• Lehi & Saratoga Springs: Popular for those looking to downsize into new construction while staying close to family and tech hubs.

• 55+ Communities in Sandy & Draper: Low-maintenance living with built-in community activities, ideal for retirees.

Whether you’re looking for a townhome, a single-level patio home, or a quiet 55+ neighborhood, there are plenty of options across Utah to fit your next chapter.

Bottom Line from The Zander Team

You’ve worked hard for your home. Now it’s time to let your home work for you.

f you’re curious about what your house is worth — and what it could unlock for your next chapter — The Zander Team is here to help. We’ll walk you through your options, run the numbers, and help you decide if downsizing could be the right move for you.

So, what would your ideal “next home” look like? Let’s talk about how to make it happen.

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Zander Real Estate Team does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Zander Real Estate Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.