Here are the signs you're ready to downsize your home

Amid the cost-of-living crisis, many Canadians are looking to find ways to save money, such as downsizing their home. But one Ottawa broker says there are several signs to consider before making the big decision.

Taylor Bennett, a broker at Bennett Property Shop, discussed some of the the signs you might be ready to downsize with CTV Morning Live on Tuesday.

One big hint you might be ready to downsize is when there are areas in your home you haven't used or visited in months, Bennett says.

"If you're walking in your house and there are many rooms that just simply you do not need, it might be time to kinda cut loose and go with something a little bit smaller," he said.

Another sign is when it becomes harder to stay on top of the upkeep of your home.

He recommends moving to a place that requires less maintenance when it becomes costly to maintain the property, both financially and physically.

Downsizing is also a good option when your commute and proximity to schools are not important to you anymore.

"You've probably bought your property based on where you work, where your kids go to school, things like that," he said.

"All of a sudden, once your kids have left, being where you are doesn’t really matter so much. As you retire, being close to the office probably won’t matter as much."