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Benefits of downsizing to a smaller home

Dear Heather,

I have a large house and property that I have owned for 30 years. However, my children are grown and married and my husband passed away three years ago. The house is getting to the point where it needs some work and with the expense of upkeep I am ready to move but I am afraid to tackle downsizing. Do you have any advice?

What are the Benefits of Downsizing?

Dear What are the Benefits of Downsizing,

Have you noticed that there is a new push for simplifying the way we live?

Homeowners are realising that “living large” doesn't always mean bigger is better. In fact, there are many benefits to downsizing to a smaller home.

Whether the decision is voluntarily or you are forced to move for other reasons, rest assured there is a benefit to decreasing your home size.

If you love saving money, energy, resources and enjoy saving time on upkeep, these are just a few of the benefits of living a “cosy life”.

Save money on frivolous living

Let's face it, the more space you have, the more you feel like you need to fill every corner.

One of the beauties of downsizing your home is the ability to stop wasting money on furniture, electronics, appliances and home items that are used to fill space rather than to fulfil a function.

Downsizing into a smaller home will you help you to prioritise your life and only bring what is necessary in your new home.

Save energy when downsizing to a smaller abode

From heating and cooling costs to water use in your bathrooms and kitchens, it costs a lot to run a large home.

A smaller home will give you the added benefit of reducing your family's carbon footprint. Meanwhile, you will enjoy a lower energy bill in the warmer and cooler months.

Enjoy the benefits of smaller living

Many homeowners agree that living in a larger home leads to greater stress.

There's general cleaning, maintenance, furnishing, outdoor upkeep, energy costs and land tax — all of these factors can add stress.

Downsizing your home can be the first step to a minimal and streamlined life. You will be surprised how reducing your daily chores and maintenance will free up your time for leisure activities, spending time with your family, getting more rest, and maybe loving your home more than loathing it.

Downsizing can free up your lifestyle for travelling

From ensuring security systems doors and windows are properly monitored to monitoring exterior lighting and keeping your grounds up, travelling can often be a burden when you have a large home.

If you decide to downsize, travelling can be less of a hassle when you need to leave your home for extended periods of time, especially if you downsize to an apartment or condominium unit from a stand-alone house.

For many homeowners, downsizing their home can be a new chapter. It can represent a way to start a new life.

Consider opting for a smaller home that could have less upkeep, or look for a property with a homeowners' association that can handle maintenance of the grounds and other amenities, leaving you with more spare time.

You can also view downsizing as an opportunity to get creative and make your new home look fabulous.

Wake up your interiors with creative organisation. Bookshelves that are built in to what normally would be a bare wall can make any space into an instant library.

Vertical organisation in a small closet can be enhanced with split areas for folded, hung and drawer wardrobe storage.

Downsizing your home will you get rid of the clutter and will help you organise only what is essential.

Heather Chilvers is among Coldwell Banker Bermuda Realty's leading sales representatives. She has been working in real estate for 25 years. If you have a question for Heather, please contact her at hchilvers@brcl.bm or 332-1793. All questions will be treated in confidence. Read this article on Facebook: Ask Heather Real Estate

Save money and energy: moving into a smaller home will cut your power and water costs and reduce your carbon footprint

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Published May 03, 2016 at 9:00 am (Updated May 03, 2016 at 8:11 am)

Benefits of downsizing to a smaller home

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