The start of a brand new year is upon us and many people are considering downsizing their home. Your local estate agents Chelmsford branches will be able to explain the various advantages and disadvantages of downsizing to you. In the meantime, here are three highly appealing reasons that could make downsizing to a smaller home the right move for you.
A Better Financial Position
One of the main reasons that you may consider downsizing, is to put yourself in a better financial position. If downsizing works for your current lifestyle, this could help in a number of ways.
Smaller homes typically have less utility bills – a smaller home will typically see your utility bills decrease. For example, if you are now heating a smaller area, you should save money on your central heating and gas bills. If older children have moved out, you may also find that you are saving money on electricity bills due to less cooking and cleaning. Your food bills may also decrease with less hungry mouths to feed!
Save money on cleaning costs and day to day running – a smaller property may be easier for you to manage without outside assistance. Smaller rooms, or less space in general will make things easier to maintain. This means that if you previously employed a cleaner or someone to help with the daily running of your home, you may now be able to easily handle this yourself. These types of regular savings can all add up.
You could see yourself with a lump sum for savings or to enjoy your retirement – another reason to downsize could be that you will see a good profit from the sale of your home, leaving you with a lump sum for investments or to enable you to retire with enough savings to enjoy your free time.
Less Stress And More Time To Relax
Smaller homes may come with less stress and offer a slower pace. Choosing a home that suits your desired lifestyle will ensure that you can ease into retirement or a less stressful time of life. With less room for storage, you may also find that your life becomes clutter free and it could be easier to maintain a healthy mindset.
A Suitable Retirement Property
If you are downsizing due to retirement, smaller properties are often an excellent choice. By downsizing into smaller apartments or bungalows, you may find that you have a better sense of mobility and less challenging obstacles to navigate. Large homes with steep stairs or uneven gardens can look appealing at the time of purchase, but contemplating how they will positively or negatively affect you later in life is a sensible idea.
This doesn’t mean that you can’t have lovely lush spaces of outdoor garden to admire, rather that by downsizing, you can choose a layout that works for you as your needs change. Homes without stairs and gardens with raised beds and easy to maintain areas of flat land will usually make excellent choices.
