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When you first moved into your dream home, it was everything you wanted it to be. Over the years, however, perhaps your needs have changed. Does your current property feel a bit too big, a bit too unmanageable? Now could be an ideal time to downsize. Here are several reasons to move into a smaller home and a simpler home life, presented below by TheOnlineReview.org.
De-cluttering To Destress
Do you feel anxious whenever you see clutter littered around your home? It can start to feel like you never have a genuine moment of peace. Downsizing gives you the chance to go through everything in your home and decide what to get rid of. That helps ensure you don’t bring clutter from your old space to your new space.
Easier Tidying Up
Think back to your first apartment. Chances are, it didn’t take you much time or energy to get everything cleaned and organized. The smaller your space, the less you have to clean. Imagine not having to spend a full day cleaning every room in your house. Such a massive chore can take time away from engaging in your hobbies, spending time with your family and enjoying your property.
Reduced Costs
Besides less cleaning, you can also spend less money overall in a smaller residential property. It doesn’t take as much time, energy or money to heat or cool a smaller residence. You could see a drop in your utility bills. Another significant thing about this benefit is you also reduce your carbon footprint, which helps to support the environment.
More Chances To Travel
Having money tied up in a larger property means less money to travel. Rather than putting all your money into your mortgage, you can spend on tickets, accommodations, experiences and memories. When you become a homeowner, your home can become your entire world. Sometimes, it’s nice to remember that there’s an actual world to discover outside your zip code.
Money for Your Old Home
By selling a larger home and moving into a smaller one, you could make a nice profit. You can use the money to buy your new residential property, fund your retirement, save up for home maintenance or start an emergency account. Depending on the state of your new, smaller property, you could use the profits to make upgrades to your new space.
Do everything you can to ensure you get an accurate figure for your home’s current value. Hire a professional for an appraisal. A home inspector can also let you know whether it makes sense to make repairs to your property before selling it. Consider using a home sale proceeds calculator, too, so you can see how much money you stand to make from selling your home.
Better Budget
How much of your budget includes the cost of homeownership? Experts say that only 28% of your income should go towards your mortgage. Even if you already only spend that much on your mortgage or homeownership costs, why not reduce that number? Your smaller home may help you get out of debt faster and improve your financial health.
Improved Mental Health
Owning a home could stress you out more than you realize. From failing appliances and urgent repairs to routine maintenance and taxes, you have a lot tugging at your attention. Moving into a smaller home can help address a lot of your anxiety and stress. You could notice a drastic shift in your mental health and perspective after downsizing.
Your home should be a blessing, not a burden. Downsizing could offer you the breath of fresh air you didn’t know you needed.
