Here are the major benefits of downsizing your home:
Saving of money
It is a true fact that more space calls for more work as well as more money! After all, you would not want to keep large spaces empty! The major benefit of downsizing your home is the ability to prevent yourself from wasting money on stuffs like furniture, electronics, appliances and home items. You usually consider these items to fill up your empty spaces. Most of these items might be just for decoration purpose but for no use. Downsizing shall definitely help you to prioritize your belongings.
More free time
Downsizing means less of daily work and more free time for leisure. It is a fact that living in a larger home leads to stress and demands regular maintenance. Whether it is cleaning, maintenance, furnishing, outdoor home upkeep etc., it all demands a lot of attention and maintenance. Downsizing your home leads to minimalistic approach.
Saving of energy
You can save a good deal of your energy costs. When you live large, heating and cooling costs can be very high indeed. Water required shall also be more. Smaller homes help you to reduce your energy consumption as well as the water consumption. Thus, you can actually enjoy a lower energy bill not only during winters but in the summers as well! You can contact your local home energy provider if you wish to know how a smaller home and energy efficient appliances and systems work in your home. This can help you to get an idea of an audit of you current consumption.
It lessens the expense on utility bills by lowering the requirement for air-conditioners. Thus, less square footage lowers the amount of energy expended. Reduction in energy is much needed for the environment and helps to keep your home eco-friendly!
Better family bonding
Though it might not ring true, but many homeowners agree that smaller homes enable the family to bond and work together in a better manner. This is because smaller homes create a suitable and cozy environment where family members and roommates get organized. They tend to share and compromise more due to less space. Such sharing arrangements can bring the family members closer indeed. Thus a smaller home usually consists of a happy family!
A smaller home in a bustling urban city gives off a cosmopolitan vibe. City dwellers prefer such homes that optimize space. You can make the most of your urban abode with color, innovative multifunction furniture, making arrangements to bring in plenty of light into your space and adorning your small space in several creative ways. You can also incorporate urban wall art, colorful home decor and lighting. This is possible as a small is much easier to maintain.
Stimulation of the creative mind
Smaller homes go well with creative organization. Many creative arrangements are made to serve two-in-one purposes for optimization of space. There lies the beauty. For example, what normally seems like a bare wall might be transformed into a dining table or a folding bed! Downsizing your home contains less clutter and prevents any form of mess, thus keeping your house maintained and organized overall.
Keeping you out of debt
Downsizing actually helps you from unnecessary expenditures, over charging, and over buying for your large home. A smaller home will help you keep your budget within limits. Saving money saves you from spending from your credit card as well, keeping you out of debt!
Heightened Cash Flow
More savings lead to heightened cash flow. When you are required to spend less on your mortgage payment, it is more likely for you to have money leftover every month. You can save this money or use it for some valuable needs or purposes. You could also pay cash for a smaller home from the proceeds of your existing home.
A smaller home implies less responsibility, reduced workload, heightened cash flow and greater flexibility. All of these have one thing in common: they reduce stress! Most home owners who have successfully downsized express they are much happier when than they were, when living in a larger home.
Raise Your Retirement Fund
Small home helps you to remain debt-free. Thus, you can look forward to building wealth for future with a fully funded emergency fund. You can consider investing some percentage of your of your household income into certain retirement plan. Thus, it can give you a peaceful life during your retirement period.
Cover up your Mortgage
With a smaller home, you can use the proceeds from selling your current home to pay cash for a smaller one. You could lead a more peaceful and happier life with no mortgage weighing you down.
Downsizing might not seem to be a source of bliss but it is, in true sense. With no complication, more savings in terms of energy and money, more free time and several other factors mentioned above, downsize can be an appropriate decision for you. When it comes to downsizing, you can organize a neighborhood yard sale.
After all, it gets your life simplified and organized to a large extent. You can take the guidance from an experienced real estate agent to help you determine the worth of your home and show you multiple options to do away with extra costs. A pro in the field of real estate understands the business well.