Well, you’re not alone!
According to the National Association of Home Builders (NAHB), 60% of homebuyers are considering downsizing to smaller, more efficient homes. The economy is playing a significant role in this decision but, for the most part, our society is full of Baby Boomers who don’t quite need the space that they once did. Here are 7 benefits of downsizing your home:
1) Save money: When you buy a smaller, more energy-efficient home, you’ll save money on your utility bills. You’ll also reduce your maintenance expenses. You will most likely have a smaller mortgage. With less space to fill, you need less stuff! This allows you to also spend less on furniture and other home décor.
2) Reduce your impact on the environment: Your home will use less energy when you have less space to heat and cool.
3) Increase free time: You’ll spend less time cleaning and maintaining a smaller home. Use the extra time to travel, take up a hobby or just relax.
4) Enhance peace of mind: When you no longer have to worry about how you’re going to pay enormous utility bills and mortgage payments, you can sleep better at night.
5) Improve your health: Less stress usually equals improved health. Owning a large house full of stuff you have to pay for and take care of can be very stressful. When you downsize and let go of all that stuff, your stress decreases.
6) Put cash in your pocket: Sell your extra stuff on eBay, Craigslist and at a garage sale.
7) Simplify your life: Simplifying your life reduces stress, improves creativity and increases joy.
Making the decision to downsize can be difficult to do, but once you’ve taken the leap, you’ll discover many rewards. The more stuff you get rid of, the more you can save for things that truly matter, such as saving for your retirement or college education.