For all their benefits, large houses can be a struggle. From maintenance and mortgage to cleaning and decorating, there are plenty of reasons why downsizing strikes homeowners the world over as a tempting option. Some consider it a retreat from excess, while others simply see it as a matter of necessity. But regardless of intention, there are clearly a number of benefits that come with moving to a smaller home.
Perhaps it’s a move you have always considered but never brought yourself to act upon, in which case a little information is all you need. As such, this post will seek to outline the multiple benefits of downsizing your property. (Note: despite the common misconception, you don’t have to be retired to make such a drastic change; downsizing is common among homeowners of all ages).
It may seem obvious, but the first benefit of smaller homes is their smaller mortgages. Downsizing can ease the financial baggage that comes with larger properties while opening you up to a whole host of great deals. Especially in contrast to the current mortgage of your larger property, the upfront deposit and the monthly fees on a smaller property will make your new home a lot more manageable (both at the beginning and in the long run).
Dealing with a lower mortgage will immediately relax your finances. You will likely benefit from an increased cash flow, opening up more room in your budget for socialising, travelling and indulging in some of those finer purchases. A mortgage that is easier on the pocket is also easier on the mind – there’s no time to stress about those monthly outgoings when you’ve got a life of freedom and fun to be enjoying!
Lower monthly costs
Since a smaller home incurs smaller living costs, you can expect to see your monthly outgoings decrease when you downsize. Heating a smaller space means less energy consumption and lower energy bills, leaving you more money to play around with every month.
Bigger homes often require a lot more in terms of upkeep, so the running cost of maintenance and repair work will be minimised in a small property. Furthermore, if you move to an area with lower council tax you can further reduce monthly living costs. London homeowners seeking lower council tax should use this interactive map of local council tax bands for assistance.
Perhaps one of the biggest annoyances associated with ‘living it large’ is the amount of cleaning and tidying required to keep your home looking presentable. With fewer rooms and less space, a smaller home will simply take a matter of hours to clean in its entirety. When it’s easier to keep on top of cleaning, you can dedicate more time to activities you enjoy and remain stress-free knowing that there isn’t a big house to clean at the end of the day.
While this may seem like more of a disadvantage for some, those who downsize naturally find that they have no inclination to buy needless products or fill their space with trendy furniture – not least because there isn’t as much room to be frivolous with material goods. While we all like to have lots of nice things, for many this isn’t a very cost-effective or fulfilling way of life.
Having less space lends itself to a more resourceful and minimalist lifestyle, the benefits of which have been well-documented in the past few years. As such, if you are starting to feel encumbered by the amount of possessions you own, or if you have a problem with buying products that you don’t need, downsizing may come as a welcome change of scene.
Many downsizers have claimed that it can be quite difficult to get comfortable in a bigger house. In some cases, having lots of huge rooms spread throughout the house makes it hard to maintain a tight-knit family and takes an element of cosiness away from your alone time.
On the other hand, smaller homes are notoriously warm and inviting when decorated and maintained well. Families are more likely to gather in communal spaces in homes with more intimate layouts, so downsizing could go a long way towards aiding bonding and togetherness. Besides, just picture your snug and intimate living room with the fire on during the winter – bliss!
Easier to design
One of the main appeals of downsizing is that a small home presents a manageable blank canvas for all your pent up creativity. It’s hard to make a passion project out of a house that takes years to fully design and decorate. While the design process is always in constant flux with any home, it takes a lot more time and money to see your vision come to life with houses on the bigger side.
However, when designing a small house the process is more manageable, the results are more tangible, and you can make headway much quicker. You no longer need to spend so long planning and designing only to make small changes every month or so. Nor should you feel the need to cram each room with lots of nice furniture and décor, as smaller spaces lend themselves more to standalone statement pieces which define individual rooms.
Starting a new chapter
Life is more exciting when you are constantly changing and growing, and moving house is guaranteed to hit the metaphorical reset button and start afresh. You don’t need grandiosity and extravagance to be happy: simplifying your surroundings and making them smaller has the potential to make a bigger difference! Is it your time to turn the page and start a new chapter?
Whether you’re tiring of your current living situation or you just fancy a change of scene, the new pace and mood set could come as a breath of fresh air. Perhaps you’re a born and bred urbanite looking for a taste of country life. Or maybe your current mortgage is causing you stressful problems. Whatever your circumstances and goals may be, downsizing your home has the potential to open up a variety of life-changing opportunities and freedoms.
Here at James Anderson we always aim to fulfil the needs and requirements of our clients, whatever their price range. If you’re looking to buy a beautiful property in South West London, take a look at the properties for sale we have available on our website.