Benefits of downsizing your home

Does your family home seem a lot larger? Have all your children flown the coop? Are you looking to downsize for retirement?

Downsizing your home can sound stressful! Don’t let the thought intimidate you, as it can be a beneficial process. Taking the opportunity to downsize is often the beginning of a new chapter. While it is a fresh start, downsizing has many benefits, and can be a very positive experience. Deciding to make the move can be hard.

However, when you take the leap, you can see how beneficial it is to pack up. Watch the video as Joanne Danckwardt of One Agency JD Property Agents talks more about what downsizing is and the benefits of it.

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What is downsizing?

Downsizing (or rightsizing your home) occurs when you move into a smaller home than what you currently live in. It is often a decision made by people whose children have left home, or people considering downsizing for retirement, or seniors needing to downsize who are struggling to deal with the upkeep and costs of their home. It can also simply be that some people are keen for a change, are looking to streamline their lift, want to move closer to friends or family, or just want to fresh start in life. Whilst many spend time trying to upsize throughout their home-buying journey, downsizing can offer so many benefits.

Increase in cash flow

It is likely that your current home will have increased in value. Buying a smaller and cheaper property will provide you with cash equity, giving you added money in the bank. Smaller properties are generally less expense in their upkeep in areas such as electricity and insurance, a saving on bills for your cash flow. Instead of putting all your hard-earned dollars to a mortgage and utilities bills, you can start to enjoy your money.

Eliminate clutter

Downsizing forces you to declutter. Moving to a smaller home will mean you will not able to accommodate everything you have in your bigger home. Possessions can be become baggage. Without a valid reason to declutter, your space can be quickly overtaken. Downsizing means you have to prioritise your possessions, allowing you to remove things from your life that no longer serve a purpose.

More time

Having a smaller home means you will spend less time on cleaning and mowing and maintaining gardens, meaning you have more time for you to spend on the things you enjoy. This gives you a new type of freedom to explore new hobbies such as golf, tennis, travel or read. Or it can allow you more free time to spend with family and friends, providing plenty of enjoyment. You can enjoy your home without being a slave to it!

Lifestyle changes

Downsizing will often trigger a lifestyle change. For example, instead of having to worry about gardens, if you have downsized to an apartment, leaving to travel becomes less of a hassle as the gardens are generally taken care of by strata. Downsizing to a retirement village opens up the possibilities of new friendships, activities and amenities. Downsizing your home can lead to a less stressful lifestyle.

How we can help with your downsizing journey

To enjoy the benefits of downsizing, you should consider whether a smaller home will serve you and complement your lifestyle. There is no benefit to downsizing to something smaller to save time and money if you are unhappy about losing a bedroom or living space.

Once you have decided that a smaller home will suit your lifestyle and future goals, you can appreciate the benefits of downsizing, and enjoy a fresh start.

Making the decision to move to something smaller can be made easy. At One Agency JD Property Agents, we are ready to help, so you can get the most out of downsizing. We offer experience and knowledge that will help you make the buying and selling process as seamless as possible. We will provide you with advice, guidance, and results. We can help build a plan with you to overcome any fear, talk with about if you should sell or buy first, achieve sales results for you, assist with finding your next property to buy, and provide you with a range of strategic tailored real estate advice.

If you're ready to discover the secrets to being ready to sell your home, download our free insider secrets to being ready to sell checklist.

YES, DOWNLOAD MY CHECKLIST

If you feel you could benefit from our experience with buying and selling, we’d love to hear from you. Simply reach out.  We hope that has helped you today. If you have any questions, or you know of anyone who may benefit from our real estate services, we’d love to chat. Our number is 0426 264 771. We look forward to talking to you soon.

Considering how you can Right Size your Home and perhaps move into Aged Care? Register for this short course and learn how to best right size your home when moving into aged care. 

If you have any family or friends that might benefit from real estate guidance, please feel free to pass on my details or share this link. I’d love to be able to help.