27 October 2018

Six reasons to downsize your home


Downsizing your home involves some very important adjustments in your life, which can have many positive impacts to make your life happier and much less stressful.

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1. Reduce your mortgage payments

Owning your home comes with many benefits, but there is often a mortgage to pay. An exciting purchase in adulthood can quickly become a burden as the mortgage becomes too much to deal with. Downsizing allows you to reduce your mortgage payments, and release some extra cash each month.

2. Save energy consumption

With energy prices rising an average of 43 per cent since the beginning of the year, it is vital to cut energy costs where we can.

Energy bills for large properties can be expensive, where you end up attempting to heat only the rooms you use, which can lead to issues such as damp. If you are struggling to pay to heat your entire property, it could be time to downsize.

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3. Release money

The reduction in household maintenance and bills that you achieve from downsizing allows you to spend money on other things. This can be hugely important if you have other major financial obligations, such as launching your own business or supporting your child through university.

4. Create more time

When living in a large home, time is quickly taken up by maintaining and cleaning the property, when it often feels like once you have finally cleaned it, you have to start again.

Tasks such as decorating can take weeks, where there is not much time for any other activity. Downsizing allows you to spend less hours taking care of the home, and more time doing the things you enjoy.

5. Prepare for retirement

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If you are approaching retirement age, you must think carefully about the kind of home you require over the coming years. You may not want too many stairs to climb, or a large garden that is a chore to maintain. Downsizing allows you to enjoy your home for the long-term.

6. Clear the clutter

It is common to collect a build-up of furniture, clothes and other items that you do not need frequently, with the space you have becoming easily filled. Moving to a smaller home encourages you to clear the clutter, recycle and donate spare items.