Downsizing your home is one of the best ways to free up much-needed space, gain better control of your finances, and make life a little bit easier on the planet. For many people, the idea of downsizing still seems daunting as we’re conditioned to believe that bigger is better and that we’re on the hook for a lifetime of excessive homeownership. But downsizing doesn’t have to mean losing out on what matters most. It doesn’t have to mean trading in your dream home for a tiny apartment.
The question that most people ask when they are considering downsizing their home is, “Will it provide me with any benefits at all?” Indeed, downsizing your house can actually be beneficial to you! It does not have to mean that you are desperate to sell your old house. It simply means that you want to downsize your lifestyle to a more manageable one. Downsizing your house will save you money, time, and energy. By downsizing, you will be able to have a more relaxed lifestyle with less stress and your ability to donate to charity will also increase because you will have more time.
As you know, times are changing; there is a whole generation of people who want to move from a big house to a small house, and this is not just for financial reasons. Many people would prefer a smaller home because they have lifestyles that revolve around the outdoors: they want to do more hiking, biking, kayaking, canoeing, and backpacking. When you’ve got a big house, all of these activities require a lot of planning and seriously cut into your downtime.
Whether you’ve been considering downsizing or simply kick-starting a new project, learning the benefits of downsizing can help you stay focused on the positive aspects of the process. Downsizing doesn’t have to be scary; it doesn’t have to be stressful, and it doesn’t have to be an overwhelming task. There are plenty of benefits to downsizing, from freeing up space and saving money to making life simpler and more enjoyable.
Here are 3 benefits that you can obtain if you choose to move into a smaller home.
- Costs will be reduced. Your mortgage payments are reduced, real estate tax costs are lower, utility costs are lower, insurance costs are lower, and maintenance costs become less. With all of the reductions from mortgage, taxes, and different costs, you will be able to see the differences in how much money you have to give away.
You’ll also be able to have much more savings than you had before. With the extra money you have in hand, you should look at the options you have with you. You can either put it away for your retirement, reduce the loan debt that you may possibly have, or use it for traveling purposes and little life rewards for yourself if you already have enough money for your retirement.
- You won’t have that much clutter. Downsizing your home is a great way that you can embrace more simplicity or take out things that you don’t necessarily need or even value. Now, don’t be sad and think of it like your parting ways with memories. You can think of it as if you are moving into a new part of your life, a new part of your life that’s less stressful and filled with much more fun and relaxation.
Now, it is okay if you feel overwhelmed with de-cluttering because we know that it probably took you years to have the things you have now. So, you should start your de-cluttering now. That way, you will have time to decide which of your belongings you’ll keep and not keep.
- You’ll get to enjoy a more simplified lifestyle. Even though most people don’t downsize, for this reason, one of the good things is that you’ll be able to obtain a simpler lifestyle, stress becomes less, and with only so few tasks to do to maintain the home. You will benefit from doing lesser tasks that keep you from the things you actually want to do. A smaller home would equal lesser belongings.
And those are three benefits that you can get out of downsizing!