After the kids leave the house, you might have no need for that extra space. While it used to be common to stay in a family home until old age, downsizing has become a popular option in recent years. Staying in an old house can have sentimental value, but downsizing can bring greater benefits. Aside from saving money, a smaller home or apartment can improve your quality of life.
Although renting an apartment or town home could be just as expensive as a mortgage, there are a lot of other ways to save. A smaller home will lead to lower energy bills. Additionally, with less rooms there is less furniture to buy, and less overall upkeep. If you move from a home to an apartment, there is no longer a need to own a lawnmower and other landscaping materials. Moving to a smaller home can help you save in a number of ways.
Helps Clear Clutter
Parting with possessions you’ve had in your house for years can be difficult. As hard as it can be, there’s really no reason you need that old green chair or bright neon sign. Downsizing helps you get rid of clutter because there won’t be room for it in a smaller home. Before you move out, you can either have a garage sale or donate furniture and other items you won’t need at your new place.
Moving from a 3 bedroom or larger house to a 1 or 2 bedroom apartment can make life a lot easier. Instead of having to spend an entire day cleaning up the house, it can be done in a couple hours. By spending less time cleaning, you can be free to enjoy activities you never had time for in the past. Not only will you have more free time, but less chores are always a good thing!
With all the money you save by moving to a smaller home, you can splurge on travel! Especially if you’re retired, travel can be a great way to spend your time and money. Plus, with a smaller home you won’t have to worry as much about getting someone to water the plants or keep an eye on the house.
Relive Your Youth
When empty-nesters decide to downsize, they often move from the suburbs back to a more urban area. Living in a more exciting neighborhood can give you a chance to relive aspects of your youth. You can go to the trendiest restaurants, bars, and concerts. Just because you’re a little bit older, doesn’t mean you can’t have some fun!
Downsizing to a smaller home can be an emotional decision. Moving out of the home you raised your children in and spent much of your life in can be difficult. However, there are some huge benefits to moving to a smaller home or apartment. Obviously, paying lower monthly housing and energy costs are the main benefits to a smaller home. However, the best benefits to downsizing are the improvements to your quality of life. Moving to a smaller space will help you to get rid of some of the clutter in your old home. Additionally, downsizing saves you a lot of extra work and can give you time to travel and enjoy more life experiences. Even if you’re retired and your kids are out of the house, downsizing can make you feel 15 years younger as soon as you move!