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5 Benefits Of Downsizing Into A Smaller Home

By Emily Lowe

Real Estate Agent with RE/MAX Homes and Estates, Lipman Group #311723

July 25, 2013 04:21 AM

5 Benefits of Downsizing Into A Smaller Home

Are you considering downsizing your home? Are you one of those homeowners who is seduced by the popularity of smaller, sheik and trendy living? Or perhaps you are realizing that “living large” doesn’t necessarily mean bigger is better? There is some merit behind downsizing your lifestyle in order to make things easier and more functional. Here are some benefits that might persuade you to put that palace on the market and start looking for a more modest way to live.

1. Save Energy – I’m very earth conscious so this is the first benefit that comes to mind. Obviously if you live in a large home then you are completely aware of the expansive energy costs it takes to keep your home fully functioning. Smaller homes will give you the added benefit of reducing you and your family’s carbon footprint in the environment in addition to enjoying a much lower energy bill. I recommend contacting your local energy provider and inquire about getting an audit of your current usage to estimate how you can save even more.

2. Save Money On Unnecessary Spending – Let’s face it, the more space you have the more you feel the need to fill those spaces with furniture, electronics, paintings, decorative items, etc. Before you know it you find yourself spending every weekend at Pier 1. One of the beauties of downsizing your home is that you are inhibited of space therefore inhibited of spending as well. A smaller home will provoke you to prioritize your life and only bring into your home what is essential.

3. Less Home = Less Stress – It’s not calculus. The bigger the home the less stress is involved to maintain it. From cleaning, daily maintenance, repairs, furnishings, exterior upkeep and the cost it takes to run all these features can be stressful, not to mention costly. You’d be surprised how reducing your daily chores and maintenance will free up more time for leisure activities, or simply relaxing.

4. More Travel Time! - You may not have really factored this in before but your home requires a lot of work and in your absence when you travel. In fact, a lot of people who own larger homes are hindered from taking vacations as much as they’d like because of all the responsibilities their home requires while away. Everything from security to HVAC issues, monitoring, and landscaping upkeep can deem pretty inconvenient when taking vacations. A smaller home with less responsibility can definitely give you more time for adventures.

5. A Chiseled Back Lifestyle Can Help Keep You Out of Debt - While this is not true for every homeowner, compacting your life a little more can help keep you from over spending, over charging and over doing things for your large home. The simplicity can help keep your spending habits simplistic as well. And while a smaller home can generally mean a smaller mortgage, your debt will surely be paid off sooner than having a lofty mortgage that comes with those lofty and expansive homes.