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.
Contact one of our Fully-licensed REALTORS® today!
Looking for an experienced REALTOR® that specializes in real estate across Southern Georgian Bay? At Royal LePage Locations North we are focused on helping you unlock your future.