You have it. The big flat/ mansion/ castle of your dreams. Except that living in it is not exactly a dream. You didn’t know maintaining the property grounds would be this hard. Plus, there is the worry about possible thievery and sneaky children who want to pluck jamuns off the trees. You dream of a loft or a smaller apartment. There are various reasons to downsize your home, from financial benefits to simplifying your lifestyle.
If you are in this phase, great going. We urge you to follow your dream of a smaller abode. And for those who haven’t quite reached here yet, we list practical reasons to downsize your home (literally bringing down the size of your house) is a good idea:
1. Less time for chores
The bigger the house, the more time you need to maintain it, clean it, dust it off, wipe it. And the more money the maid demands! Solution? Move to a smaller property, free up your time, and save money that you can spend on buying something tasteful for your new abode.
Yes! Mother nature will thank you for your sensitivity. A smaller dwelling means less energy usage and reduced carbon footprint. With the current global environmental scenario, each effort counts.
Save money for kids
If you are married with kids or are planning to have them, the money spent on a big apartment can be saved up for the kids’ (expensive) college education.
3. Save money for retirement
After enjoying your wealth by spending it for a few years, it is time to get serious about saving up for your retirement. You can add to your retirement fund by opting for a smaller abode which will also be easier to maintain once you permanently leave your career.
4. Save money for travel
To slake their thirst for travel, some people go so far as to live in camper vans which they then customize and decorate themselves. This shelter on wheels not only looks gorgeous but also provides mobility which would not have been possible through a brick-and-mortar house.
5. Cut down on daily costs
If the increasing number and amount of bills are getting to you, then move to a smaller home asap. Not only does it mean reduced electricity and utility bills, but you also get to save up for other simple joys like more trips for desserts and a yearly subscription to National Geographic which you can renew.
6. Pay off your debts
With the money that you get after selling your big apartment, you can get rid of any and every debt or loan that might’ve been burdening you. Imagine the freedom and lightness of such a lifestyle.
A house is just a mass of bricks piled up in a certain way. The main thing is the feeling of home that it evokes which is independent of size. Nevertheless, for each reason listed above, we urge you to research thoroughly by taking all expenditures and factors into consideration. And finally, if you do decide to downsize, have a happy house-warming party! And you can move all your extra furniture into a self-storage facility!