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Benefits of Downsizing your Home


Posted: August 28, 2019 by Alan Tucker

Downsizing is something that many people consider doing, but don’t always do given what it entails. However, there are a number of benefits to downsizing your home, and you shouldn’t be nervous or hesitant to make the plunge! There are countless reasons for wanting to downsize, and it doesn’t matter how old you are or what stage of your life you’re in! With that in mind, let’s look at some the advantages of downsizing your home:

 

Less Space means Less Spending

Look around your current home—are there things that you no longer use or seldom use? There’s guaranteed to be at least a few things that would fall into one of those two categories. With a smaller home, empty space will most likely be at a premium, so you’ll end up spending less money on frivolous things that would only end up collecting dust for a majority of their time in your home! This also means that you’ll be forced to get rid of some of those things that you’ve been holding onto but never use! If you’re someone who has trouble letting go of things that you no longer use, downsizing is a great way to force yourself to start that process!

There’s Less to Keep Up with

This may seem obvious, but if you have a smaller home then you most likely have less things to keep up and keep track of than someone who owns a larger home! As such, overall costs of maintenance will be lower—depending upon the age of your home, among other things. In addition, utility costs will be lower as it takes less effort to cool and heat a smaller home! Ultimately, downsizing serves to help you save a lot of money that you would’ve spent on things that you may not have necessarily needed!

Downsizing Often Comes During a Transition in your Life

This may not sound exactly like an advantage, but often times people downsize at certain times in their life! For example, many people decide to downsize after their children have grown up and move out on their own. As such, downsizing often opens up opportunities for travel and other excursions due to the money no longer being spend on a larger home! Given that you’ll be selling a larger home than the one that you’ll be moving into, you’ll often have additional money left over from the sale of said home to put towards your endeavors!

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