Are you considering moving home?
Whether you’ve decided that bigger isn’t always better or you’re looking to decrease your expenses, downsizing is always a good option. But you know there are plenty of other useful benefits as well?
Read on to explore the unexpected benefits of downsizing a house.
Reduce Unnecessary Spending
One of the biggest issues with having a large home is filling it. Especially if you have previously had children or other family members in the house.
You can only convert so many spare rooms into studies before you end up with rooms you just never use. But all of these rooms need to be filled, so you end up wasting money on things to fill them up.
How much furniture have you brought over the years that has hardly ever been used? How many decorative items have you got to stop your home feeling empty and lifeless?
By downsizing, you can avoid this expenditure by getting rid of these unnecessary rooms. In fact, you can keep all your favourite items, and sell the rest to recoup some of the cost. Especially if they have hardly been used.
Lower Carbon Footprint
Now more than ever, we all need to do our bit to reduce our carbon footprint.
Heating, cooling, water. They all have an impact on your carbon footprint, and the larger your house, the greater they will be. This is especially true if your home is larger than it needs to be.
You can’t let your lawn die of thirst over summer or have some of your rooms freeze in the winter. But if you aren’t really using them, this is just unnecessary cost and resources being used.
Downsizing to a small house will make sure that you are only using the resources that you actually need.
Freeing up cash will also give you the capital to invest in better insulation, windows, and more efficient HVAC systems in your new house. This will further reduce your carbon footprint and save you money over the long term.
Spend on Furniture
Filling your entire home with the perfect furniture is always a challenge. The more rooms you have the harder it is to create the perfect look for each room. And that’s before you even consider your rapidly dwindling furniture budget.
Most people will end up with a few rooms they are happy with, and the rest being utilitarian at best. Downsizing allows you to focus your efforts on the rooms you have and use.
With less space to fill and less to buy, you will be able to finally create the home of your dreams. Furniture that you could never previously justify will suddenly be in budget, and you can focus on interior decoration.
You can also purchase space efficient storage solutions, so your rooms can be less cluttered, without being any less functional. Downsizing your home is the perfect way to finally have the beautiful home you always wanted.
Unless you are moving from a very cheap area to an expensive one, then downsizing should free up a lot of equity in your house. Not only this, but a smaller home will have lower monthly outgoings. Less water, electricity, gas and property tax.
You can then use this money where you need it the most. You can clear any debts you have built up, invest it, have a few nice holidays, or anything else. Whatever you use it for, you should end up with less stress and a better quality of life.
If you need money for your current property quickly, then you can use an iBuyer to quickly trade in your home.
Start a New Chapter in Life
There are always times in our lives where we feel that a change is in order. We want to start a new chapter in our lives. But being in the same old home stops us from really moving forward.
Maybe your children have grown up and moved out, or you are about to retire. Downsizing is the perfect way to start a new chapter in a positive way.
A new area, neighbors and home are great for helping you be who you want to be, not what you were. Especially If your smaller home comes with less chores, or is maintained by someone else.
Less rooms means less work. If you don’t have to spend half your free time cleaning your new smaller home, then you have a lot more time to do what you want to do.
You finally have the time to do the things you have been putting off for so long. That hobby you always wanted to get into? Now is the time. Has everything been building up, and now you need time to relax? The go ahead.
Fewer things you must do, means more things that you can do. So you can finally think about what you want to do, and have the time to do it.
A home of your own is a great thing. It gives you stability and somewhere to always come back to. But if your home is too large, it can end up acting as a tether.
Like pets, a house needs to be looked after when you are away for any length of time. Looking after lawns, making sure security systems are working and checking on it regularly can make travelling an almost impossible task. And even if you do manage to leave, there are always worries at the back of our mind.
A smaller home requires much less maintenance when you are away, allowing you to go for longer periods of time. This is especially true if you downsize to an apartment or area with a HOA. So you can finally take that holiday you have been talking about for years.
If you are struggling with your spending, then downsizing may be the perfect way to get on top of your finances.
Reducing your monthly expenditure will help increase the amount of money you have to pay down your debts. But more importantly it can be the start of a lifestyle change that lets you get back in control.
With less space, you will naturally spend less of items you don’t need. Afterall, if you can’t fit it in your home, why are you buying it? The more that you get into a frugal mindset, the easier it becomes.
Before you know it, you will be debt free, and able to start saving money.
Better Standard of Living
As much as it is handy to have a lot of space sometimes, the larger your house the more stress it brings. More stuff means more things to go wrong and more maintenance. Cleaning, yard work and furnishing all take their toll.
Downsizing your house removes a lot of this stress. When you aren’t so overwhelmed these tasks can become a joy instead of an annoyance. Doing a bit of weeding because you want some fresh air is relaxing. Having to weed the garden because your yard is being overrun is not.
In fact, smaller homes help us to spend more time with our families. As long as you aren’t forced on top of each other, the increased interaction helps you bond and work together. Small restrictions also help to create a positive and organized mindset, which helps in all aspects of life.
You can use your newfound time to enjoy life again. And in turn, you will be able to fall in love your with your new home.
When we have a large house, we tend to fill it. Bit by bit we pick up little things here and there. And before we know it, there isn’t any space left.
Downsizing gives you the perfect opportunity to declutter and clear out what you don’t need.
Start by looking at everything you own. Separate it into different categories like keep, sell, throw, recycle. If you are unsure, ask yourself whether you even remembered you had something. If the answer is no, get rid of it.
Of course, you don’t need to throw your sentimental items away. Organize them so they take up less space or give them to family members.
Benefits of Downsizing a House
As you can see, there are plenty of benefits of downsizing a house. Stress levels are reduced as you gain more free time and a better outlook. Home equity allows you to do the things you have always thought about, but never been able to afford. And you are finally free to travel and live the life your overly large property was stopping you from living.
Our online home value estimator, is able to provide you with the current market value of your home using just your house address. And if you are happy with the offer, you can request a cash offer or a trade in. So not only can you remove the stress of living in your current home, you can take the stress out of selling it as well.