The benefits of downsizing

Posted on: 17 January 2017

The benefits of downsizing

 

There comes a time when you start to realise as a homeowner that bigger isn’t always

better. There are many benefits to downsizing to a smaller home.

 

So whether you’re thinking about downsizing because of a life event, a relocation or you just fancy a change, here are a handful of reasons why you should…

 

You’ll save money.

 

It goes without saying that a smaller home means smaller mortgage payments, cheaper energy bills and lower maintenance costs. This will leave you with more money in your pocket at the end of the month to start enjoying life.

 

You’ll be forced in to a declutter.

 

If you’re moving to a smaller home then you’re going to have to face facts that you’re not going to be able to take everything with you.

This means that you’re going to have to get rid of those unwanted items that have just been gathering dust for the last few years.

 

It’s easier to maintain.

 

House maintenance feels like a never ending job. But by downsizing you’re going to have a smaller area to keep on top of. So you’re going to save a lot of time, energy and effort in order to accomplish your tasks.

 

You’ll have more time.

 

Think about how much time you spend maintaining and cleaning your home. A smaller space will give you a lot more free time so you can start pursuing the things that really matter.

 

Opens up the market.

 

Common sense should tell us that a smaller house will be more affordable and a more affordable house is going to have a wider market range than a sprawling mansion.

 

What should be on your downsizing checklist?

 

Right size?

 

You’ve made the decision to downsize but that doesn’t mean you have to go for an all or nothing situation. Before you make the decision be sure that you don’t go too small.

The first thing you should do is make a list of all the rooms in your current home that you’re not using. A good rule to determine this is that if you go and spend time in them less than 12 times a year then you’re not using them.

 

Once you’ve done that, add up the square footage of those rooms and subtract that from the square footage of your current home. That should give you the right size for your new place.

 

Make a list of what you need to get rid of.

 

Unless you’re a decluttering pro - this is a difficult task. But you need to make a list of things that you need to get rid of. You’re not always going to find this easy but be realistic and remember that memories don’t equate to things.

 

Make a plan for your old “stuff”.

 

If you’re decluttering because your kids have left home then offer any items you’re not taking to your children. However, be firm that it’s a now or never saturation, don’t hold on to them because they may want them in the future.

 

Downsizing isn’t always going to be the easiest decision you ever make and there may be times during the process that you’re wondering whether you should go ahead. But downsizing is just another chapter on your life and it’ll free up a lot more resources.

 

Don’t forget to follow @AlanBattUK on twitter for more lifestyle and property tips.

 You can find our details by visiting the website: www.alanbatt.co.uk

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