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4 Legit Reasons to Downsize Your Home

4 Legit Reasons to Downsize Your HomeThe idea of downsizing your home may not be something you have thought of previously. Most people think about moving into bigger and bigger homes as they get older and hopefully make more money.

While there are some advantages to living in a large home, there are plenty of drawbacks, as well. By the end of this article, you may realize that downsizing your home is a viable – and maybe even attractive – option.

So, what reasons are there that you might want to downsize your home? Check out the points below.

1. The Kids Have Moved Out

Without a doubt, this is the most popular reasons you may downsize your home. When your kids head off to college, or buy a place of their own, you might not need all the space your current home offers.

This is especially true for people who have three or more kids, as they were probably living in a rather large home to accommodate all the children. You might not want to downsize right away, especially while they are still in school, but this is a topic to keep in mind for the near future.

2. Save on Utilities

You may not think about it, but paying to heat and cool your home is quite expensive when you have more room than you need. Each time the furnace or air conditioner kicks on, it is going to be blowing air into vacant parts of the house. If you downsize your home, you can cut down on your utility costs month after month.

3. Free Up Resources

Everything about living in a larger home is more expensive than living in a smaller home. Your mortgage will almost certainly be bigger, your taxes will be higher, utilities, maintenance, and on and on.

If you would like to free up some of your financial resources to travel or have other experiences, downsizing your home is a smart choice.

Think about it – how much of your home do you use currently? Everyone has a little bit of space which is rarely used, but it half your home is that way, it might be time for a change.

4. Simplify Your Life

It is easy to let your life get rather complicated when you live in a big home. There is a lot of housework to do, you have to make a lot of money to pay the bills, and you might feel that you need to buy things to fill those rooms.

If you are in search of a simpler life, one of the things you can do is to move into a smaller place. There will be fewer things to keep track of, and everything should be just a bit simpler.

Most likely, those things that are filling all of your extra rooms aren’t really bringing you any additional happiness, anyway. Streamline your day to day life and you might find some added contentment as a result.

Deciding to downsize your home doesn’t have to be something that is forced on you. These days, many people are trying to downsize and simplify their homes.

 

Are you thinking about downsizing? Why would you downsize your home?

 

Photo courtesy of: Scott Webb

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John Schmoll is a Dad, husband and veteran of the financial services industry. He's passionate about helping people learn from his mistakes so that they can live lives free from the shackles of debt and empowered to make their money work for them. You can check out his other sites: Frugal Rules, for ways to improve your financial literacy; and Sprout Wealth for tips on different ways to make more money. John has been featured on Forbes, Lifehacker, Yahoo Finance and US News & World Report and more. If you're wanting to grow your blog, check out my blog coaching services to see how I can help you take your site to the next level.

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