Downsizing to smaller home brings lot many advantages and disadvantages together. Decision-related to a home is an important one as it affects your life financially and personally. It brings a great impact on your lifestyle. So before making any decision related to real estate one should be mentally prepared for this. Also, you can take advice from the residential property valuer before making any decision related to the home. In this blog post, we are going to reveal the advantages and disadvantages of the downsizing.
Here are the pros of downsizing –
Financial advantage – When you have a big home the expenses bill, utility bills, maintenance bills all go big. Thus downsizing helps you to minimise your water, electricity, garden and home maintenance expenses which allows you to save your money to a large extent.
Strengthen the family bond – When you live in a big space you stay away from each other in your own corners whereas small homes hold less space which keeps you close to each other. Which strengthens the bond between the family members.
More organised – No space for cluttering. In a small space, you can’t keep your clutter or unused items in the home as the home is not spacious. You have to discard the old and unused items to keep your home clean and organised.
More ‘me-time’ – Big home needs more time for cleaning and maintaining. Well small homes give you me-time you don’t need to spend much time cleaning and sprucing up your home as your home is small now you can save your time and pursue your hobby in the leisure time.
Here are cons of downsizing –
Finding a new home – This is the toughest job, finding a home for moving is a tedious task. As of buying, selling and renting the real estate property is not an easy one. It is practically tough when you have to find the small home in the right locality.
The pain of losing your neighbours and friends – Though downsizing could be your right option for you but it’s hard to leave your co-operative neighbours and friends with whom you used to enjoy your parties. Even you can’t be sure you are going to get such amazing and co-operative neighbour at the new place or not.
Emotionally affected – It becomes hard to break the emotional connection with the old home. People used to have lots of memories associated with the home.They carry fear in their hearts that what if memories will fade away. This disturbs the minds of the people and sometimes broke them emotionally.
Change in lifestyle – This is for sure the facilities your big home grants you will not going to get in the small one. Like your home pool, garden, home theatre etc. You will not get the same lifestyle again which changes you completely.
These are the few and major pros and cons of the downsizing. You can hire a residential property valuer for the best residential property valuation services and make the decision which is right for you.