With the increasing prices of home ownership, it is a popular time for many people to be considering downsizing. If you have been giving it some thought, here are four reasons to get to know if downsizing may be the right move for you.
1. Saves you Money
There is no question, that having a smaller home means a smaller cost of living. Not only does it cut down on your rent or mortgage costs. It also means smaller electricity bills, lower costs for water and gas, lower property taxes, and less money spent on property management such as landscaping or home maintenance costs. If you choose to purchase a property such as a condo or townhouse, you can cut out several of these costs completely.
2. Chance to Declutter
Over time we tend to collect, and hold on to, a lot of stuff. This is just human nature and it is perfectly normal for clutter and material items to accumulate and there may be little motivation to get rid of them. Downsizing, however, means you will no longer have the storage space to hold on to the things that you do not use. It will force you to really ask yourself what you need, what is important to you, and what you can part with. Nothing motivates us to rid ourselves of things we have held onto for years, like having to pack them up.
3. Adopt a Minimalism Lifestyle
In the midst of de-cluttering and getting rid of things, you may realize that you are ready to adopt a more minimalistic lifestyle and embrace less waste, less consumerism, and less materialism. For this, downsizing may be the best move! As mentioned, you will have to become clear on your priorities. Such as, what you need, and what you can live with out. This will be reflected in the items you choose to have in your new home.
4. Wasted Space
Large homes can be daunting when it comes time to clear away the dust bunnies. Living in a smaller space will mean far less time spent cleaning and more time spent with loved ones. In a smaller home you spend more time in close proximity to those you live with and are more likely to have to share space. This can lead to spending more time together with one another. Even if you are not participating in the same activity, such as watching television while the other is reading.
Downsizing is not for Everyone
Downsizing is a major life decision and is not for everyone. It may or may not suit your lifestyle and your long-term goals. If you need some guidance in helping you choose what style of condo or townhouse you should purchase, or if you know you are ready to make the change! The next step is to find yourself an ideal real estate agent that can get you on the right path.