Realtors are seeing a new trend. Instead of gravitating to large homes, people of all ages are starting to embrace a less is more attitude. Downsizing is no longer relegated to seniors as young families are shying away from the mini-mansion craze and are starting to look for a cozy, smaller home. Many are drawn to neighborhoods where homes are closer together and have front porches where one can sit and visit with neighbors passing by.
Rightsizing is a better term as it means you don’t have to make sacrifices when moving to a smaller place. In fact, it could mean quite the opposite. A smaller, yet luxurious home in a prestigious community is a smart option. Consider these benefits of a home that is the “right size” for your life:
- Reduce expenses – mortgage payments, utilities, maintenance
- Less stress
- Start afresh
- Buy new/newer
- Boost your living/retirement income
- Have money for adventures
- Less stuff = less cleaning = more time to enjoy life
People of all ages are finding that a smaller home that is the rightsized for you and your family means more money in your wallet. Your life is less stressful without paying large amounts in mortgage payments, taxes and insurance. No longer will you have to pay huge utility bills. You may even decide that you no longer need landscapers to maintain your large yard. The decrease in all those expenses will give you more money to enjoy life.
Moving into a smaller home encourages people to interact more. You have more opportunities to sit and talk, play games, or watch TV together. Furthermore many of these smaller homes are in subdivisions with more recreational activities such as walking trails, tennis courts, pools, golf courses, and lakes – all enticing people to enjoy life together inside and out. Your new home could inspire special bonding opportunities and create many wonderful memories.
Looking toward the long term – purchasing a smaller home is a wise investment. If or when it comes time to sell, your smaller home will appeal to a wider audience of buyers. You can boost the value your right-sized home offers by having it in an ideal location – neighborhood amenities, the ability to walk to stores, or near an attraction such as the beach or waterway.
Of course, the toughest part of rightsizing will be parting ways with stuff that you no longer use or need. Here are some tips:
- Access your actual needs – use the one year rule. If you haven’t used it in a year, get rid of it.
- Avoid tackling the whole house in one go – it’s too stressful emotionally and physically. Work on one room at a time.
- Banish the “maybe” pile. Use the OHIO rule – only handle it once. It’s yes or no.
- Go through every closet and cabinet
- If it is chipped, broken or stained – toss it!
- Determine your new storage needs/eliminate storage
- Sell your stuff – estate sales, consignment stores, Ebay, Craigslist, etc.
- Give family treasures away
- Organize and enjoy
Rightsizing is becoming a national trend for many reasons but the most common is to gain quality of life. By simplifying your life and surroundings of “stuff” you will find you are free to pursue your passions such as hobbies and travel without the responsibilities and financial burden of a large home. This doesn’t mean you can’t still live in a home that offers luxuries. Less can be more.
Are you thinking of downsizing or upsizing? I’m an experienced and knowledgeable realtor who helps people buy and sell homes in the greater Charleston area. Let’s discuss what makes sense for your family and find your dream home! Contact me at Shawn.Phillips@kw.com or call me at 843-471-7315.
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I look forward to earning your business!