Whether your children have just moved out to go to college or you’re looking for ways to reduce your cost of living, choosing to downsize to a smaller home could be the best decision you’ve ever made. Rid yourself of huge mortgage repayments or stop spending all your hard-earned cash on rent by finding a smaller house to live in, or even move into a mobile home.
Yes, there may be some disadvantages to making this lifestyle change, especially if you’re used to a larger home and love to entertain. Although you may not have the room to invite guests over for drinks or dinner, but don’t forget all that money you’ll be saving. Instead of having your friends round for food, you can take advantage of that extra disposable income and treat yourself and your guests to a delicious restaurant meal instead. Here are some other areas that will get easier if you decide to downsize:
Less Household Maintenance
Living in a larger house always results in many domestic chores and maintenance, something that can eat away at precious family time and who wants to spend the weekend away from work cleaning the bathroom. Downsizing to a smaller dwelling will speed this process up massively, making domestic chores a walk in the park and freeing up valuable time with your friends. Having less space to make a mess will naturally keep the house tidier. Cleaning product costs will lower too.
Lower Utility Bills
Smaller dwellings will obviously use less energy which is great for the environment and your bank balance. Look for sustainable and renewable sources when hunting for your new home, as they’ll keep your costs even lower for longer.
Solar panels can be easily installed onto a household’s roof and will draw energy from the sun, converting sunlight into electricity. Small wind turbines can be installed in any outside space you have and will produce energy on cloudier days. Air source heat pumps can extract warmth from outside and convert it into heating for your home which is perfect for those long, frosty winter months.
No Wasted Space or Belongings
It’s a rarity when every corner of your home is utilized to its full potential which seems silly when you’re spending a huge chunk of your income on the rent or mortgage repayments. Downsizing will force you to make the most of the space you have and streamline belongings to a handful that you actually need and use. There are lots of clever ways to design your home in a smaller space such as hidden storage units and tuck away toilets in your tiny home bathroom. Downsizing does not mean you have to compromise.
Possibility to Move to a Nicer Neighborhood
Downsizing may give you the option to move to a nicer neighborhood, that was otherwise unattainable, which can improve your quality of life. Living in a more central location as you grow older can be useful and will no doubt be more sociable for your children. Research the desirable neighborhoods in your area and see what kind of real estate is on offer.