There was a time not so long ago when the dream for most people was to own the biggest house possible for their budget. Unfortunately, this actually led people to stretch their budget to the limit. They found they couldn’t really enjoy their life because there was no money left over from their mortgage payments.
So, more recently we’re seeing a shift back to smaller, more manageable property. Smarter use of space, more innovative storage options and of course the lower financial cost all make this shift possible. There’s also those who have reached a point in their life where a larger home isn’t necessary anymore. If you’ve had children move out on their own, you’ll often start thinking about downsizing.
If you’re living in a large home and you’re thinking about making a change, here are a few reasons why downsizing your property can be a great idea.
Less cleaning and maintenance
Having a large home can be great, especially if you’re the type of family who enjoys having a lot of space. It’s great for giving everybody their own little pockets of the house, and terrific if you’ve got a lot of hobbies that take up space. But most people would agree the major downside is all the cleaning and maintenance.
With a larger home, you’ve got more rooms and more living spaces that need to be cleaned. Many people live in homes where they shut off several rooms of the house because they don’t get used. This helps to delay the cleaning requirements, but it doesn’t cancel them out forever. There’s also the fact that with more space, more working parts, there’s going to be more things that need fixing over time.
If you find you’re wasting time cleaning parts of the house that are barely even used, it’s time to ask yourself if you really need that space at all.
Lower energy bills
Owning a home is expensive on a lot of fronts. Not only is there the ever-present mortgage payments, but there’s plenty of running costs. One of the biggest ones is energy costs, and despite the world making a shift towards more renewable energy sources, our costs don’t seem to be dropping too dramatically.
Heating and cooling account for a huge amount of the average household energy consumption. So, it’s reasonable to determine that if you’re heating a larger home, it’s going to cost more than a smaller one. Especially when some parts of the home aren’t even used. You’re basically throwing money out the door.
Save money for other things
There are two situations in which you might consider downsizing. One, is you’re still in the mortgage stage of life. The other is when you completely own your home. In both situations, downsizing frees up money to achieve other goals.
If you have a mortgage, downsizing to a cheaper property gives you more money every week. So, you can save for things like travel, better furniture, or other lifestyle purchases. Or, you can even keep paying more and wipe out that mortgage quicker.
If you already own your home, you might be in retirement or close to it. Downsizing your home gives you an instant cash injection, so you can potentially take more holidays or even fast-track your retirement if you’re not there yet.
Find a more desirable location
Did you move a long way from the city just so you could afford a larger home? Maybe you even moved to a cheaper part of the country to get that big house you wanted. Well, one of the best ways to get yourself closer to urban and city areas is to downsize your home.
If you want to enjoy a lifestyle closer to the city, you generally need to pay more for housing. That’s unless you choose to downsize and move into a smaller place. Get yourself into a smaller home, closer to the city, and even free up some money to enjoy the city lifestyle a bit more.
Enjoy a life without clutter
During our lifetime, we accumulate so many material things. Some are necessary for daily life. Some have sentimental value. But so many of the things we own are just disposable and unnecessary. Think about the big house with a rumpus room or big garage. Do you find yourself filling those extra living spaces with things like fridges and furniture just to avoid walking back inside to get what you need?
All these extra possessions cost money, take up space, and in a smaller home you simply don’t need them. Downsizing your property forces you to look at how much you own, and get rid of all the things you’d consider to be clutter. Once you do, you’ll love how refreshing it is to have a tidy home, free of all the things you’ve collected over the years.
Start new routines and a better lifestyle
This could probably be said for any type of move, but downsizing your home makes you think about other ways you could improve your lifestyle. If you spend less time gardening and maintaining a large home, maybe you’ve got more time to exercise. Perhaps you can set up your new kitchen and get into good meal preparation routines.
Downsizing your home is essentially a new start, and when many people do it, they see it as a chance to improve their life for the better.
Bring your family closer together
Finally, downsizing your home can be great for your family dynamic. In a larger home, it’s easy to spend time away from your family. Whether it’s working in the yard, tinkering in the garage or simply spending time in separate rooms doing separate things.
Being in a smaller living space often encourages people to gather together more often, and spend more time with each other. While you don’t want to be living on top of each other all day, it’s always nice to strengthen those family bonds by being a little bit closer together.
For more information about the best house and land packages, home designs or any other information, get in touch with one of the most trusted home building companies in NZ