The thought of downsizing your home may seem like a daunting task, although it is one that can be beneficial depending on your circumstances. It is also the first step to the next stage of your life and an exciting one.
1. The opportunity to declutter
When you find a property to downsize to, it will also mean a reduction in the space for the number of furnishings and other belongings that can move with you.
Downsizing brings with it the chance to declutter and move on items that you no longer use or have an attachment to and are not likely to use in the future.
There are great charities that may appreciate donations or online marketplaces where you can list the items and potentially make some money from things that you no longer need.
As they say, one person’s trash is another’s treasure.
2. A reduction in expenses
Choosing a smaller home may mean a reduced or no mortgage based on the proceeds of the sale of your larger property and can potentially increase cash on hand.
A smaller home will also lead to a reduction in energy costs including utility bills and maintenance requirements are likely to be less with a smaller property. Insurance costs and obligations are also usually a lower investment with a smaller property.
3. A change in lifestyle
Downsizing your property means less space, a smaller yard, and a reduction in the footprint of the home.
The benefit of a smaller property besides the environmental impact is the potential change in lifestyle. A smaller, or no yard will mean less time on weekends tending to lawns and gardens and less maintenance on other areas of the property. This will mean that you can gain back more time to enjoy the things that you really love.
Related reading: The appeal of townhouses for first-time buyers and downsizers
Thanks for reading. Wishing you a successful day.
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