When it comes to most things in life, our society seems to glorify the “bigger is better” motto. We want designer clothes, the nicest car, the newest technology, the fanciest accessories, and the best vacations. Of course, this also means we are always looking forward to getting the bigger house. While some families do need the extra square footage to accommodate their needs, there are also many who can make it work in a smaller space. To put it simply, bigger is not always better, especially when it comes to real estate.
Even though we continue to acquire more and more, another growing trend is the idea of simplifying one’s life. Whether this comes in the form of cleaning out your closet or organizing your pantry, it feels freeing to let go of the clutter. The same can be said when it comes to be downsizing. If you have considered making the move to a smaller house, following are a few of the biggest perks of downsizing your home.
More Financial Freedom
A big house typically comes with a bigger mortgage payment. By downsizing, you have the ability to reduce the amount of money that is coming out of your bank account each month. You then have so many options when it comes to deciding what to do with that extra money. Maybe you want to put it into your savings or retirement account. Maybe you want to use it for traveling. Or maybe you want to just have the extra funds available for other fun experiences, whether that involves going out to dinner or paying for extracurricular activities for your children. Downsizing gives you the financial freedom to make these decisions, without being tied down by a massive mortgage payment.
More Time Available
A larger house also means that there is always more work to be done. Whether that involves cleaning the house, maintaining everything within the home, or tackling the yardwork. For example, if you live on a large piece of land, you probably spend a few hours each week mowing the lawn. If you live in a house that has five bathrooms, it probably feels like there is always a sink or toilet that needs to be cleaned. Less house, less yard, means less work. And then you have the ability to spend more time with your family and friends.
More Things You Love
When you are living in a smaller home, you have to be more intentional with the things that you bring into your house. There is less space for clutter and fluff – anything that is not essential. However, it also encourages you to be more intentional about how you decorate your home. Instead of purchasing three sofas to fill every space in your home, you now have the ability to purchase one couch that you truly love. Rather than buying a bunch of stock artwork to fill your home, you can buy unique pieces that really speak to you.
Source: Henderson Institute https://www.hendersonproperties.com/2019/07/downsizing-home/