Downsizing Decisions: Moving To A Smaller Home

It's something that crosses our minds now and again, whether it is worth renovating your home (again) or if it's time to downsize to a smaller property.

There are arguments for and against both, but for a lot of us, bigger doesn't necessarily mean better. In fact, it might be the opposite. So here are some reasons to downsize to a smaller home.

Cashflow

This is the most obvious benefit, by going for a smaller property you are reducing your outgoings by a significant amount. So if you're spending less money on your mortgage payments, you're going to have more money left over than you usually do which can be put towards other areas in your life that you could not afford to do. A lot of people may have a big home to show off, but they don't necessarily have the rich life to go with it.

Reduced Consumption

Moving to a smaller property means that you are naturally going to cut down on buying unnecessary items because you don't have space for them. You may find that the process of moving from a bigger house to smaller one involves a lot of selling of bulkier items, but there is always the option of short term or long term storage if you can't bear to part with some of your items. This can be quite a transition, especially when you're used to a more frivolous way of spending money, but it will result in less money being spent overall on things like food, clothing, or general household goods.

Cheaper Household Costs

It will always cost more to heat a larger house, so by going to a smaller property you're going to be cutting down on your utility bills. The added benefit of moving to a smaller home is that the rooms don't take as long to heat up, meaning that you can turn off the heating a lot sooner than you would have in your larger home. It's also handy that's in doing this you are contributing towards protecting the environment by keeping your home green.

The Luxury Of Time

The beauty of having fewer rooms and less space means a quicker turnaround when it comes to cleaning the house from top to bottom. As you'd be spending less time on regular household tasks, it leaves you with a lot more time to do things you really want to do, because nobody enjoys cleaning the house, right?

It's Better For You

You will have a lot less responsibility, a reduced amount of chores, as well as more money to spend, and all together they will cut down magnificently on the amount of stress you would normally have with a larger home. It's something you see a lot in people who have gone through a bigger home to a smaller one, there's a lot fewer demands placed on them, from financial stress to maintenance. While we all might not benefit from downsizing, it's important to weigh up whether now is the right time in your life to do so, especially where your finances are concerned.

.

This is a contributed article written for WhimMagazine.com