Are you considering a downsize to a smaller property? You’re not alone. There are so many people looking at trading in their larger houses or apartments for something a little more manageable, and why wouldn’t they?
There are so many fantastic reasons to downsize and you can bet we’re going to list them all below for you right here! If you read through this article and decide you’re raring to get going, give Peter Hutton or Angelo Zardo a call.
They’ll be able to talk you through the process of listing your property. They also specialise in getting you the highest number of people through during opens so you receive the highest number of offers. That’s the only way to find you the buyer who’ll pay your ‘Love Price’.
So, without further ado, here are five great reasons to downsize to a smaller property today!
1. You’re going to save money in the long-term
Who doesn’t love to save some cash? When you downsize, you’re taking on a smaller mortgage, which means the difference goes straight into your back pocket. In some cases, you might even be able to pay for the smaller property upfront with the proceeds from your sale! Wouldn’t it be nice to no longer have a mortgage hanging over your head?
This excess cash can now be spent on whatever you want. Whether that be on funding retirement, going on more holidays, helping the kids out a little bit, or even investing in more property. The opportunities are endless when you’re spending less of your income on expenses that aren’t necessary.
2. More time for the things you love
“On the weekend I just love spending time dusting and vacuuming 3 bedrooms I don’t really use. It really gets my blood pumping,” said no one ever. Right? Downsizing to a property more suited to your living situation is going to save you so much time on cleaning! Especially if you’ve no longer got a house full of people willing to chip in and help with the clean.
If you make the switch from a family home with a yard to apartment living, you’re also going to save a ton of time you would’ve spent pulling weeds and killing your back. Isn’t is so much easier to just fill a small watering can and take it out to the balcony?
Instead, why not spend that time on a family picnic, catching up with friends for lunch, or just sitting around reading a great book?
3. You’re going to accumulate less stuff
Don’t you hate clutter? Dusting things you don’t need or want anymore but just hold onto to fill up empty space; it’s a waste! When you downsize, you have less room for that kind of stuff, so it’ll force you to really evaluate which possessions you need and cherish. Decluttering is so therapeutic. Donating or throwing away items to which you are no longer attached will leave you feeling lighter.
Additionally, you’re not going to be inclined to purchase so much anymore. If there’s no room to get that elliptical, you’re not going to purchase it spontaneously from the lifestyle channel! That means more money in your back pocket for the things that you really want to spend it on.
4. It may just improve mental health
You’re walking around a big house filled with memories of family Christmases, getting the kids off to school in the morning, and watching TV together in the evening. It’s where your kids got ready for their first date, it’s where you held your 40th birthday party and spilt wine on the carpet, and it’s where you watched the family dog grow old.
While it’s fantastic that the house has set the scene for your family if the kids have flown the coup and things are a bit quieter now, it may be time to look toward the future. Purchasing a smaller property for retirement and older age will give you control and stop you from dwelling in the past. You’ll be able to create a new beginning and new memories.
After all, you’ll always have those old memories in photographs.
5. You’re helping to save the environment!
Smaller houses, townhouses, and apartments have a far smaller environmental impact. They use far less energy and modern apartments are quite often built with the idea of minimising waste in mind. If your new property has solar energy, water-wise fixtures, and energy-conserving lighting throughout, you’re well on your way to reducing your carbon footprint.
You can go that extra step and incorporate other sustainable choices into your life while feeling good that your new house is doing all the hard work for you.