Whether you’re downsizing your home as a lifestyle choice or moving to a senior living community, there are many benefits to moving into a smaller home.
This article will help you to see how downsizing to a smaller home can not only be a smart financial decision, but can also vastly improve your day-to-day quality of life.
The Financial Benefits of Downsizing
The most obvious reason to move to a smaller property is that it will save you money. Not only will you have little, or no, monthly mortgage payments, but you’ll also have lower utility bills, with fewer rooms to heat and cool, and fewer lights and appliances to power.
Also, a smaller property is less expensive to maintain. You’ll have fewer rooms to upkeep, fewer appliances needing servicing, and the lower costs of a smaller exterior and lawn.
On top of all that, you’ll pay lower property taxes than you did for your larger home.
Plus, if you move to a senior living community offering Life Care benefits, you can take advantage of a tremendous health service offering. If your care needs increase over time, you will not need to move. Your care will continue to be provided for you in your home and by people you already know and trust. On top of that, your monthly costs will remain predictable.
Less Is More
Instead of thinking of downsizing to a smaller home as downgrading your lifestyle, think of it as living in a way that is more intimate, collaborative and cozy. With less space and fewer rooms to separate into, you’ll be spending more time interacting with the people you love.
Also, a smaller space encourages simple living. You’ll need fewer home décor items to fill the space. And because you’ll need to buy fewer items, you may be able to buy better quality pieces. Well-made furniture and appliances can make you feel more comfortable than having a larger home and more space than you need.
Organize and Minimize
Downsizing to a smaller home means downsizing your belongings as well, perhaps through a yard sale or donation to charity. With what you choose to keep, you’ll be motivated to stay organized with less space. You can use shelving, closet organization kits, and book cases in areas where there would otherwise be blank wall space. This can add visual interest and make a smaller space feel cozy and intimate.
With less space to fill, you’ll have to prioritize what you bring into your house. This means every item in your home must be carefully chosen and have a specific purpose. You don’t have room for frivolous spending on items you don’t need.
Free Yourself from Square Footage
It can be freeing to become less focused on accumulating material goods. People tend to fill the space they live in, so having less space means you need less stuff.
A great advantage to downsizing to a smaller home is that it’s easier to clean. Fewer bathrooms to scrub and less flooring to vacuum means more free time. Afterall, downsizing after retirement to maximize your free time is what retirement is all about!
More free time (and more money in your bank account) means you can choose to travel more often, see the world and visit family. You’ll leave behind less worry because a smaller home is easier to secure, especially if you’ve moved to an apartment or condo that has added security and less easy access by outsiders into your private space.
You’ll also have more free time to focus on yourself. You can exercise, take longer walks, read more, take a class or join a club. If you like to cook, you can try some new recipes. And with more money on-hand, you can buy better quality food for your health, and go out to dinner more often.
Feeling Reluctant at First
The thought of moving out of the family home can bring up strong emotions. You may be reluctant to move to a smaller space because you like to have guest rooms for overnight visitors. You may enjoy using a large kitchen to cook for guests and having a dining room that can fit a large table to accommodate everyone. Maybe your large home has been the destination for family members for holidays for many years.
But if you think about how you live your everyday life, you might spend all but half a dozen days a year not using all that space. Give some thought to how you use the space for the vast majority of your time and you’ll easily see that you can fit comfortably in a smaller space.
You could choose to set up cozier celebrations when you do have guests. And, you could let someone else host the holidays. Imagine not having to prepare the home and meal for all those guests. You might end up having an even happier holiday.
Looking Forward to the Future
Downsizing to a smaller home can mean starting a new chapter in your life. If your children have grown and moved out, or if there’s been a death of a spouse or partner, moving can signify a fresh start, and choosing a smaller house will free up time and funds for you to live a lifestyle that makes you happier.
As you consider your move, it’s important to think about the kind of space you want to live in. An apartment can be a good choice, especially if it’s located in a community that takes care of maintenance for you. Beacon Hill in Lombard, IL, offers apartments of different sizes and layouts to fit your needs and budget.
When you see Beacon Hill’s floor plan choices, you’ll be sure to find the perfect space for you. Plus, you have the added bonus of a wonderful, active and welcoming senior living community right outside your door, to help you make the most of your new home.
If you want to talk to an expert about downsizing to a smaller home, fill out the form at the bottom of the page. We’re here to help you, and we can’t wait to meet you.