The surprising benefits of downsizing
We all move home for different reasons. You may think that downsizing is something only those in their later years pursue, as they struggle with an empty nest. Yet there has been a steady rise of people of all ages downsizing for a variety of reasons, including for financial freedom and gain. But when the majority of us are desperate for more space, what are the surprising benefits of downsizing?
Enjoy less space
The idea of living in a smaller abode may give you chills of the horror movie kind, but from our experience at Knightsbridge Estate Agents, downsizers actually enjoy having less space. Gone are the stresses of maintaining a large home and garden, time spent cleaning is reduced, and so are the associated costs of running a large home.
Downsizing makes you streamline the way you live, giving you more time to do the things you enjoy in life, such as spending time with family and friends, and even travelling. By reducing the stress a larger home can bring, you may find you love it more than your last property with all its bells and whistles.
One of the perks of a larger home is space for people to do their own thing. You may find that you watch TV in one room whilst your children prefer to stream on a device somewhere else. Having more rooms can divide families, whilst smaller homes bring everyone together. Compromises may have to be made, as sharing space is a necessity, but you may find that how you spend your time changes too. Instead of an evening spent divided by technology, you may come together to enjoy a boardgame or a programme together.
Only what you need
No matter how much space you have, you will always find a way to fill it! Imagine the savings you will make on those frivolous non-essential purchases to add more furnishings to your home simply to fill an empty space or two. Instead, your spending habits will change to simply buying what you and your home need.
The cost of running and heating a larger home compared to a smaller one can be substantial. You may love your large property, but not particularly enjoy your utility bills when they arrive. Your family’s carbon footprint will be reduced in a smaller home, meaning not only will it be cheaper to run, you will be doing your bit for the environment too.
The financial rewards for downsizing is what attracts many people to making the move down the ladder. Some seek to pay off their mortgage, others to reduce their monthly outgoings; either way, what you gain is more financial freedom. That freedom opens the door to many possibilities, whether that be travel, reducing the number of hours you work, or simply having the pennies to enjoy life that little bit more.
Safe and secure
Security is another reason why some choose to downsize, especially if they’re expecting to travel for a large part of the year. Instead of leaving a large house empty, they prefer a property such as an apartment or one in a tight community where there is a greater level of security, for peace of mind whilst they’re away. Not only tha,t being alone in a larger home can sometimes make people feel a little isolated, whereas a smaller home can makes us feel safer in our surroundings.
A whole new start
Downsizing is a not just a change in where you live, it also provides you with a whole new start on how you live. This can be incredibly exciting, and possibly daunting, but a smaller home opens the door to opportunities that may not have been possible before. This is why we’re seeing such a wide and diverse number of clients coming to us to explore the possibility of downsizing.
Are you ready?
Downsizing is not for everyone, and you have to be at a particular stage in your life, or have a big desire to change how you live, to make it a positive move for you and your family. If you’re considering downsizing and unsure if it’s right for you, come and chat to a member of our sales team.