Some advantages to downsizing your home.
Within recent years there has been a new trend developing. Bigger is Not Always Better. It is a trend that reflects the housing collapse, rising energy costs, and greater awareness for the environment. People are no longer dreaming of bigger and better homes, but rather smaller or more efficient homes. Often, in return for less square footage, the buyers can then afford to splurge in other areas, such as improved insulation, high quality windows or flooring, and perhaps a few other luxuries, such as solar roof panels and skylights. The point here is making the most of a smaller space to make your life easier and possibly even more enjoyable.
Increased Cash Flow. If you are spending less on your mortgage it could mean you are likely to have money every month to allocate for other needs or desires. Or perhaps you could pay cash for a smaller home from the proceeds of your existing home.
More Time. Fewer rooms and smaller spaces cut down on the time expended to clean and maintain. Smaller homes can reduce the time spent on household tasks, leaving more hours in the day to do something else more enjoyable.
Lower Utility Bills. It costs a lot less to heat / air condition a smaller home than larger. Typically, there is no wasted space such as vaults in a smaller home. Less square footage decreases the amount of energy expended. Reducing energy is better for the environment and helps to keep your home green.
Reduced Consumption. If there is no place to put it, you’re much less likely to buy it. That means less money is spent on clothing, food and consumer goods.
Minimized Stress. Less responsibility, smaller workload, increased cash flow and greater flexibility — added together, they all reduce stress.
Home owners who have successfully downsized sometimes appear happier when they’re no longer overwhelmed by the demands of a larger home.
If you are considering downsizing, Modern Property Groups would like to help you get started. Contact Us for a free comparative market report on your current home.