A big home may still be a dream for some, but a smaller home may be a smarter and more flexible choice for those looking to save money and time. Limestone Sales & Lettings Office Manager Paul Neale shares his insight into how living in a smaller property could benefit you.
Lower Mortgage Payments
One of the most obvious and biggest selling points of downsizing is that less square footage = lower mortgage payments. If saving money has become important to you, downsizing can be a great way as you may also be able to pay your mortgage off quicker than if you purchased a larger space.
Treat Yourself Or Loved Ones
Downsizing from your current larger property may see you end up with a significant lump sum – all yours to spend on whatever you like. A nice new car, an exotic holiday or a gift for loved ones could all soon be within reach with appropriate downsizing.
Lower Maintenance Costs
Big beautiful homes take a lot of looking after, whereas with a smaller space you can do most of the maintenance work yourself and in a far reduced amount of time. If you currently pay others to keep your property looking spick-and-span, downsizing is an immediate way to save on the cost of labour.
Owning a smaller property can often result in keeping a neater home. With less space, you’re less likely to become (or remain) a hoarder! Having little extra space at your disposal will require you to ruthlessly edit your possessions. You are forced to rethink buying habits and make decisions about what you need versus what you hold on to.
With smaller homes you are almost guaranteed to use less natural resources. Your gas and electricity bills will go down as your space won’t require as much energy, meaning you can be safe in the knowledge you are saving both money and the environment.
More Manageable Renovations
By virtue of having a small house, any refurbishments can be done easier and in much less time than the full-scale renovation of a larger home. Less space means less materials which also means the costs of renovating can be significantly cheaper from your old property to your next.
In a smaller home, you can be more creative in maximizing the square footage. Walls and ceilings can be fully utilized with open shelves and organizers and it pays to be clever with more built-ins and storage solutions. Smaller homes often turn out to be some of the most resourceful.
Think downsizing could be for you? Give us a call on 01908 234 111 or drop us an email at firstname.lastname@example.org and a member of our friendly team will be happy to explore your options with you.
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