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The Ultimate Guide to Downsizing to a Smaller Home

Downsizing Home

Downsizing Home

Starting to think about downsizing early, even when you’re still in good health, will put you in control and give you more time to find the perfect home.

Downsizing your home helps you live a fuller life without unnecessary things. For instance, the more possessions we have; the larger the lifestyle we want to live. Consequently, our life becomes more of a mental strain. However, after downsizing for a simple life, you won’t need to worry about housework and indoor or outdoor maintenance. It’s a great way to trim down your stress.

What is downsizing?

Downsizing isn’t merely related to retirees. Many young families are trading in their 4-bedroom houses, gardens, and manicured lawns for the freedom that downsizing to a smaller house brings.

It’s a procedure to lessen your costs by lessening your headcount. The foremost aim of downsizing is to restructure an organization to make it more competitive.

The right time to downsize

If you have more space than you need and it’s no longer economical to live in your current home, downsizing to a smaller house is an ideal option. Here are some signs that show it may be time for you to downsize:

  1. A growing desire to simplify your life.
  2. Unsustainable monthly expenses.
  3. Maintenance is becoming overwhelming.
  4. Emotional agony.
  5. You’re often away from home.
  6. Fears about aging in a place.
  7. Need to cash out the land bank.
  8. Dealing with major life changes.
  9. Concern about environmental impact.
  10. Your career no longer ties you to your current location.

Potential benefits of downsizing

1. Become less focused on stuff

Living in a large home means more rooms to furnish. However, small living changes how you view making new purchases. For instance, if there is no place to put it, you are much less likely to buy it.

2. More free time

Buying less stuff avoids maintaining it all and keeping your large house clean, as well as in good repair. Consequently, it will allow you to pursue the things in life that you’re passionate about.

3. Reduce environmental footprint

Small houses don’t require much energy and use fewer materials in the building process. Therefore, by downsizing to a smaller home, you can preserve the environment by not building new.

4. Minimized stress

Less responsibility, increased cash flow, smaller workload, and greater flexibility will reduce your stress perfectly. Moreover, you will no longer be overwhelmed by the demands of a larger home.

5. Stay out of debt

Downsizing to a smaller home will help owners to avoid overspending on unnecessary items. Therefore, if you want to save your money and keep your credit in check, consider downsizing.

Top Points to consider when downsizing to a smaller home

By taking the time to understand, ask the right questions and objectively access each living space, you will be more likely to make the right decision. Here are some factors to consider when downsizing to a smaller home.

1. Choose the right location

Figure out how you want your next chapter to look like. For instance, think about whether you want to be close to your friends and family or not. Do you want to live within walking distance of things like restaurants, transport hubs, and more?

2. Investigate the property

Investigate the neighbors around you if you don’t want to share walls with undesirable people. Walk around the grounds, determine access to your apartment from the street and look at the parking options.

3. Understand the strata management

Before choosing an apartment, it’s vital to research the strata. It’s a system to manage the legal ownership of a section of a building. Check the financial health and history of the building.

4. Determine the functionality

Investigate whether the apartment has an outdoor area or not and whether it is covered or open to the elements. Ensure downsizing to a smaller home is fulfilling the important aspects of your life.

5. Consider hidden costs

Find out about all the costs associated with moving; for instance, estate agent and commission fees, council tax and utility bills, the cost of redecorating, and other essential repairs.

Five tips for a hassle-free move

An ideal approach is to keep what you use, love, and can’t live without. Here are some amazing tips for a hassle-free move:

  1. Go through your entire house to examine each item one at a time.
  2. Be determined, ruthless, and organized.
  3. Make a list of items you want to take with you and give cherished but unnecessary items to friends and family.
  4. Rather than squeezing large furniture into a smaller space, see what can fit to simplify and design your space.
  5. Think about which safety precautions you can add to your home ahead of time rather than waiting until they are necessary to add them.

Own less, live more

The things we own end up owning us. Therefore, the goal should be to own less. Getting rid of everything unnecessary will positively affect your mind after a couple of days. Decluttering is a journey. Give yourself more time than you think you will need to plan for downsizing for a simpler life. You can get professional assistance from top specialists to find the perfect property to fit your lifestyle.

This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.

© 2021 Rohan Rawat

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