C&G’s Guide to Downsizing
While some people strive for bigger homes, others may enjoy the benefits that downsizing offers. There are many reasons to opt for a smaller home, such as retirement, location, and cost-efficiency amongst other lifestyle changes. In this latest C&G blog, we unpack all the reasons you should consider when making the decision to downsize!
Smaller properties can be cheaper.
Whether it be the cost of rent, mortgages or utilities, smaller homes are indeed cheaper. Many parents may decide to downsize when their children move out, as it is unnecessary to continue paying the upkeep costs of a large property. However, the savings associated with downsizing will depend on where you reside, and your home routine. Small apartments in up-market neighbourhoods can cost just as much as a spacious home in the outer suburbs. That being said, if you achieve a good sales result from your family home, you can have your pick of the market and grow your savings.
It’s a fresh start.
Downsizing could be the perfect opportunity to declutter your life. It forces you to actively decide which items are worth keeping, and which ones are taking up valuable storage space. When you move into your new home, you’ll have a clean slate from which you can style your space. A smaller home also encourages you to be strategic about the placement of furniture and large items. If you run into trouble, don’t forget to check out our blog on styling a small space!
Try new things.
Downsizing can allow for a change of scenery and lifestyle! If you grew up in houses, perhaps you can try apartment or townhouse living? These residences are often designed with location in mind, enjoying local amenities such as cafes, restaurants and entertainment complexes. According to Domain, many downsizers seek out a ‘village’ lifestyle bustling with community spirit. This trend will certainly impact upon future residential projects, which are developed with the buyer’s needs in mind.
Are you considering downsizing in the future? Whether you are interested in selling, buying or leasing, the expert team at Chisholm and Gamon will be delighted to answer your property questions. Don’t hesitate to make us your first port of call!