Reasons to downsize your house
One of the most common reasons for choosing to move into something smaller is because the children have grown up and moved out, but it’s certainly not the only reason.
Most of us will downsize our homes at some point in our lives.
n Cost. Running a large home is expensive. Electricity and water costs are generally higher and are a drain on finances. Those who have lived in a particular property for an extended period may well find they can sell up and buy a smaller home for cash and enjoy being bond-free.
n The property is simply too big. Some couples seem to rattle around their homes and while it’s great to have a spare bedroom or four, running such a home isn’t only more expensive, it’s also time-consuming given the amount of cleaning and maintenance required.
n Retirement. This is by far the most common reason people decide it’s time to downsize. People are living longer and many use their retirement years to travel, choosing to downsize either to fund their wanderings or to improve their overall daily standard of living.
n Opting for a simpler life. Moving into a smaller home forces one to do a thorough clear out, getting rid of any unnecessary items. Smaller homes have smaller gardens and are usually simpler to maintain.
n Crime. Sectional title and estate properties are generally more secure than a freestanding home and the decision to move may be influenced by rising levels of crime. Even if you do feel secure, adequate home security costs can be high and it may be less expensive to share these costs with neighbours as opposed to going it alone.
n Going ‘green’. A smaller home not only reduces their carbon footprint, it also helps to cut down on energy use.
q Information courtesy of Private Property.
Also read: Smart technology for a smart home
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