Saturday 24 July 2021
  • :
  • :

4 Pros and Cons of Downsizing Your Home

There are many reasons why people downsize their residences. Whether it is because you are retired, recent empty nesters or simply find your current home too big, downsizing your space is a step in the right direction. If you made the decision and talked to a realtor now is the time to consider both the benefits and disadvantages of a compact home so you are happy with your decision in the long run.

Like everything in life there are both positive and negatives to different housing options and moving to a smaller home definitely has both. If you are contemplating downsizing in the Vernon real estate market just remember to do your homework so you fully understand the advantages of embracing a condensed lifestyle.

Downsizing Cons

  1. Dealing with Your Stuff

You may find this especially difficult if you are leaving the home you raised your children in behind but you need to reduce your number of belongings because there won’t be the same storage or space in the new house. It is also likely much of your furniture will not fit either due to fewer rooms and less square footage. For some people this is a problem as they do not want to get rid of their belongings.

  1. Less Storage Space

Though you went through and reduced the number of extra possessions in order to fit into your new cozy home there are items you probably do not want to part with such as photo albums and other personal belongings. However the number of closets and the size of storage areas means you might need to rent a locker or find other clever ways to store your stuff.

  1. Change of Community

Maybe you are lucky and happen upon a compact home in your current area but it is more probable that you will find yourself moving to a new area which also means a new community. While this may be refreshing in some ways it is challenging as well. You must search out nearby shops and amenities and you no longer know your neighbours. This might be overwhelming at first.

  1. The Cost of Moving

Selling a large home and moving into a more modest one often increases your bank account but there are costs associated with selling a home. Real estate commissions, hiring movers and buying a replacement abode all come complete with a price tag. If you are moving into a townhouse or condo monthly fees become a part of your housing budget. Also, you might find yourself purchasing furniture to fit the lifestyle.

Downsizing Pros

  1. A Simpler Lifestyle

Living in a downsized home typically means less to do. You can cut down on cleaning time as there are fewer rooms and smaller spaces. Repairs and maintenance are also faster and easier. Your outside space is scaled-down so yard work and lawn care do not eat up so much of your valuable time. You can start doing the things you have always wanted to without worrying about constant upkeep.

  1. A Reduced Cost of Living

From lower utility bills to cheaper property taxes downsizing your residence usually means money in your pocket. Selling a bigger home and buying something more modest will saddle you with a lighter mortgage load as well. Also you will spend less on repairs and maintenance. Maybe you can finally take the trip you put off for years because you could not afford it.

  1. De-clutter and Organize Your Space

When we live in a home for a long period of time we tend to fill it with too many possessions. In a large house there is extra space for it so going through it and organizing is a task you can put off. Upon making the decision to downsize you are forced to figure out what you really need and what you can give away to friends and family or donate. This is often a cathartic experience that frees you of a lot of clutter.

  1. Embrace Change and Adventure

Downsizing is akin to beginning a new chapter in life. You are no longer burdened by an oversized home that takes up valuable time and finances so you are able to finally move out of the suburbs and into the downtown neighbourhood you love. Book the European trip you have dreamed about. A downsized residence gives you a newfound sense of freedom and a jump start into adventurous living.

Leave a Reply

Your email address will not be published. Required fields are marked *