Updated: Oct 14
Is a Smaller Home Right For Your Long-Term Goals?
If you’ve found yourself with more stuff than time, more bills than money, or simply too much home to keep up with, it might be time to invest in yourself by downsizing your living space. But first there are a few questions that need to be addressed when aligning with long-term goals. Here, City Permit provides insight to help you determine the best way forward.
Living the Small Life
When your home is 2,000-plus square feet, maintaining your property takes substantial time and money. And while you will still have upkeep on something half the size, a smaller house means there is less to maintain. Cleaning and decluttering takes less time, too. Considering that nearly half of all Americans are in a perpetual time crunch, the extra hours gained by moving can greatly increase your quality of life.
Aside from time, a smaller home means you’ll spend less money on utilities, taxes and insurance. This equates to money that can be used for a variety of things, such as funding a business venture or making investments that will help you live independently for the long haul.
If time and money savings aren’t enough to convince you that a small home is the way to go, keep in mind that living in a large house is an easy way to isolate yourself from the rest of your family. Moving into a smaller space will keep you in closer proximity to those you love, and spending more time together can make you happier in the long run.
Small Home, Long-term Commitment
Buying a smaller house especially makes sense if you plan to stay put well past retirement. Since you’re not paying exorbitant electric bills and upkeep costs, you can funnel the money you’re saving into areas where renovations or remodels are most likely needed to maximize the home ownership experience.
For those looking for a smaller space, don't rule out an apartment or townhome. A rental is a great way to cut down on space, costs, and headaches. You can even start the search easily with online search tools that allow you to filter by needs, amenities, square footage, etc.
Clear the Muddle Before the Move
Once you’ve finally made the decision to knock some square feet off your living quarters, you still face the problem of what to do with all the stuff cluttering up your current home. Here are a few tips to get you started when you have the urge to purge:
Prioritize your belongings by categorizing the item’s value, both sentimental and real, and whether or not it serves a practical purpose.
If you’re not going to use it, give it away or sell it and reclaim some of the cash you have invested in all the things to adorn your large house.
Get rid of duplicate items and those that have outlived their useful life.
Know the measurements of your new home and determine which large pieces of furniture won’t fit.
Consider enlisting the help of an interior designer, who can help you make smart decisions on which personal belongings, both large and small, will lend well to less space.
Whether you’re just starting a family or your chicks have long flown the coop, there is something to be said for living smaller. By reclaiming your time and money, you’ll invest in yourself and provide for your family the opportunity to live well and within your means. There are benefits to downsizing both your belongings and your home, and it’s time for you to reap those rewards for yourself.
Written By Patrick Young