5 Good Reasons To Downsize
Is your home too big? Sometimes bigger isn’t always better – a smaller home could be more convenient for your needs. Here are just five times when downsizing could be a good option.
You need to improve your finances
If you’re in a lot of debt or are simply struggling to keep up with payments, moving to a smaller property could allow you to save money. It could allow you to apply for a more affordable residential mortgage or pay less rent. Energy bills could also be cheaper if there are less rooms to provide heat and electricity to.
Even if you’re not financially struggling, it could be a way of freeing up money, especially if you own your current home. Many people downsize later on in life in order to become mortgage-free. You may even be able to earn money from selling your previous home that could go towards other goals such as travelling or affording a new car.
The kids have moved out
If your kids have moved out, you may be left with empty rooms that could make your home feel unnecessarily big. Whilst some people choose to convert these rooms into guest rooms (or even a room for a lodger to stay in), others may prefer to simply downsize so that their home feels less empty.
You may similarly want to downsize after a breakup or if a family member has died – in such tragic circumstances, moving to somewhere smaller may also help you to cope with the change.
The cleaning and maintenance is too much hard work
A larger home could require more cleaning and more maintenance. If you’re sick of spending hours dusting and hoovering or you feel you’re constantly having to attend to new plumbing and electrical problems, moving to a smaller home could help to ease the burden by making it easier to keep on top of things.
You’ve developed mobility issues
If you’ve recently developed mobility problems, you may find it difficult to get around a large home. Stairs could be a particular problem and moving to a single-storey home could put less stress on your body. A more compact layout could also help by allowing to get from room to room more freely. Some people are stubborn and refuse to downsize in such situations, but refusing to do so could be putting your health at risk.
You’re relocating to a more expensive area
You may also want to consider downsizing when moving from a less expensive area to somewhere more expensive. This could be the case when moving to a city – the same size property that you used to live in could cost double the amount, which could be too much of a financial strain. A smaller property could allow you to live more comfortably whilst enjoying the perks of your new location.