There are so many benefits to downsizing your home that it’s hard to know where to begin. Whether you’re moving from a rural property into the city, you’re an empty-nester, or you’re simply looking for a change, there are lots of advantages to downsizing your home.

Benefits To Downsizing

1. Reduced Expenses

• Selling your existing home and moving into a smaller home or condo generally means that you will have a smaller mortgage payment each month.
• Typically, a smaller space results in less energy usage and that will reduce your utility costs.
• The cost of insurance is typically reduced when you have a smaller space.
• Overall maintenance costs are reduced as there is less to maintain and, in some cases, maintenance may be covered by condo fees.

2. More Space

• It may sound counter-intuitive, but when you move into a smaller space, you will reduce the number of items in your home. When you get rid of some of your unnecessary “stuff”, you will find you have more space.
• Less stuff also means less clutter, and reduced clutter leads to a calmer living space.

3. Less Cleaning

• Intuitively, when you move into a smaller space, you will have less area to clean — and that’s always nice!
• Keeping your home clean will be faster and simpler, and that will help to free up your time for other activities.

4. Trim Down Debt Potential

• Furnishing a smaller space requires fewer expenses, as there is less space to fill. This can help to realign purchasing priorities, which can lead to reduced spending and less potential debt.
• Some smaller spaces, like condos, don’t require you to have the same number of items or supplies for your home. For example, if you move into a condo, you won’t need to have all of the gardening tools or outdoor supplies.

5. Unlock The Next Phase of Your Life

• Downsizing can be the start of the next phase of your life.
• Perhaps your children have moved out and you don’t need the space, or you want to live a simpler lifestyle and focus on what you love to do — downsizing can help you move forward.