Home downsizing can give you back your freedom.
Choosing a home is a financial and emotional investment. Transitions such as retirement, relocating for your career or adult children leaving home present opportunities to consider downsizing your home. Moving to a smaller home offers important advantages to make your lifestyle more manageable, enjoyable and efficient. From easier maintenance to a healthier mindset, here are five benefits to downsizing your home.
Home downsizing provides more financial stability
A luxurious piece of real estate not only makes a statement to your neighbors, but also to your bank account. At the time of purchasing your larger home, expenditures might not have seemed intimidating… until they dented your finances. Downsizing can offer a reduced mortgage, decreased property taxes and more manageable insurance rates. Transitioning from your current house to small space living eases your ability to build your savings and create financial stability. Would less square footage allow you to do more of the things you enjoy? If so, your larger home may own you more than you own the home.
Home downsizing can help with a healthier mindset
Your home should be an enjoyable investment. If facing the stack of bills in the entryway stresses you out, downsizing might be the key to healthier peace of mind. When you downsize your home, you have more time and freedom for priorities like spending time with family and enjoying hobbies you love. It lifts the burden of attempting to maintain a lifestyle that may not fit your current needs. Instead of feeling overwhelmed, you’ll sleep more soundly, with less pressure to keep up with the expenses of a larger home.
Spend less time on routine home maintenance
No matter where you live, maintenance and repairs are part of the special place you call home. Downsizing your home can cut the money, time and effort you spend on home maintenance. With a smaller yard, you can spend less energy and money on mowing your lawn, weeding and other landscaping. Small space living reduces the time it takes to clean your space. Imagine tidying up the entire house in an hour or less!
Home downsizing can reduce your bills
How much does your current living situation currently cost? Sometimes this isn’t a question homeowners fully consider until well after financial strain sets in. In addition to the mortgage payment, other expenses also include utilities, a home security system, heating, air-conditioning and home owner’s insurance. Small space living reduces the extent of your bills and creates more disposable income.
Going smaller can cut the clutter
With larger spaces often comes more storage, making it easy to buy more than you need or use. Before you know it, you’re not optimizing space, you’re just filling every closet with more stuff. When you downsize your home, you free yourself from attachment to having things just for the sake of having things, and prioritize the items you really want or use. It’s easier to be organized with fewer items, so not only do you have what you need, but you can actually find it.
Get more information
There are many small space living options to choose from, so you can find a solution that fits your specific needs. If you want to explore what downsizing can do for you, give me a call at 408.472.0817, and let’s talk about your options.
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