Smaller Scale: The Benefits of Downsizing

Guest post by Naomi Johnson

Whether you’re looking to reduce stress, make money, turn a new leaf or live more minimalistically, downsizing could be the way forward. In this article, we’ll explore some of the key benefits of moving to a smaller property and help you to begin the process.

Profits

In a sizzling hot housing market, selling a big home can free up cash quickly to be used on other luxuries. It may even be possible to buy a smaller house outright, thereby eliminating monthly mortgage payments - just think, what could you do with an extra few thousand dollars every month?

Simple Living

More home, more problems - at least that’s according to the experts, who suggest that larger properties may actually lead to reduced enjoyment (as well as increased maintenance costs). With fewer utility requirements, simplified living, faster cleaning, easier decorating, and more intimate living, it’s no wonder that house hunters are opting for less space and improved quality of life.

A New Chapter

For many of us, the allure of downsizing is in the opportunities it may provide. City living, for example, doesn’t often accommodate large properties, and you may need to take a smaller apartment if you want to be closer to the action. By opening yourself up to a more compact living arrangement, you’ll also open yourself to a whole range of communities and lifestyles that were previously inaccessible. Have you ever wanted to play live music in New Orleans? Take your career to another level in New York? More is possible with the right compromises.

Time

One of the most commonly overlooked advantages of downsizing is the amount of time you can recoup throughout the week. Large houses are time sinks - not only because they take longer to buy/sell, but also because they tend to be located rurally (therefore are located far from amenities), take longer to clean, repair, are easier to lose possessions in and, perish the thought, you get a rodent infestation or a mold problem. There is no accurate calculation, but chances are, you’ve already spent way too many hours of your life handling and managing your larger property.

First Steps

If you’ve made up your mind about downsizing, there are a few steps you should look to take before entering into the process. You can start by researching ahead of time by getting a feel of property prices and market shifts and finding the best home warranty company. Homeowner’s insurance only covers damage to your home’s structure, theft of belongings, and injuries that happen on your property. If you want your home systems or appliances to be covered in the event of a breakage, you’ll need to invest in home warranty. This is typically an annual, renewable contract that covers everything from your heating, cooling, and electrical to your plumbing systems and appliance repairs.

It may also be a good idea to start thinking about logistics, such as proximity to work, local amenities, and even the moving process. There are plenty of directories that can help you to get a better feel for your neighborhood, and finding an affordable storage facility now can save you thousands in the long term - some will even offer discounts to new customers.

Smaller dwellings often lead to bigger rewards. If you’ve found that your life is getting too crowded, expensive, and cumbersome, it may be time to start thinking about properties, lifestyles, and home warranties.

So Lux Life is a full-service real estate company and resource management firm servicing Birmingham, AL, and surrounding areas. Learn more about our services at: www.soluxlife.com