You look around inside your dwelling one-day, and realize that this place is ROOMY. Previously, all that space used to not seem so much a luxury as it was a necessity. A separate room for each of the kids so Suzy didn’t have to fight over closet space with Amy, and Brian could brood solo listening to his teenage angst-riddled music on blast.
Sure, at one time you used to relish all that space and the calm it created, but now having three bathrooms suddenly doesn’t seem all that appealing. Throw in the issue of practicality and you’re having an urge to change your living space. There are various reasons you may be on the verge of a big move- or shall I say, small move, and there are different avenues to explore to determine whether this really is the best option for you.
Time
Ask yourself; do I really use all this space anymore? Perhaps you find yourself enjoying more extra curricular activities away from the home now that the children are older, and you have more free time on your hands to lead that social life you’ve been missing out on all those years. Maybe you’ve rediscovered your love for traveling and don’t see the point of having a huge dwelling sitting vacant while you’re away.
Downsizing is a step towards the lifestyle change you are now craving. Factor in the time and manpower that goes into simply maintaining a large home; cleaning and yard maintenance are no easy feat, and it may not sit well with you to have to maintain such a space when you aren’t even home enough of the time to enjoy it.
Expense
Obviously, a larger space translates into a larger expense. The larger the square footage of a house and the larger the property it resides on, the greater the cost of ownership will be. The maintenance of a larger space is also more costly, creating a more expensive environment to surround yourself in. Downsizing your living space will also lead to a reduction in utilities and hydro, property taxes, and possibly even insurance.
Cash Flow
Lower expenses generally translate into a positive cash flow, meaning you have more money coming in than you have going out. This can lead to a nice little savings account, or extra pocket change to participate in the activities you wish to involve yourself in. In terms of downsizing to a condo, the money is reallocated in the form of a condo fee to cover the building’s repair and maintenance expenses.
Secret Gains
If you find yourself with some adult children happily overstaying their welcome (the chicks need to leave the nest at some point!), moving to a smaller space is the ideal excuse to force them out of their much-too-cushy situation, and you still get to look like the good guy (all the while enjoying your newly afforded freedom).
Furthermore, by downsizing you have the ability to make more options available to you regarding a changing lifestyle. Maybe you’ve always dreamed of living in the city with its many amenities and activities within walking distance, but didn’t want to uproot the family or raise children in the city. Well, now is your chance. Cities cater to a smaller living space all while offering many conveniences, ideal for supermarkets, shopping, sightseeing, dining out, and transportation.
Essentially, the three big gains of downsizing your home are the time you will save, the money you will save, and a better cash flow. Depending on the type of lifestyle you wish to lead, a smaller home in the city can be a fantastic option, providing many of the necessities within walking blocks from each other. There is no such thing as doing too much research, and always consult with industry professionals you trust for advice. A smaller home is a big change for a better life!
No comments:
Post a Comment