What Are the Reasons Why People Are Downsizing Their Homes?

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In recent times it’s definitely become a trending theme to downsize rather than upsize the home. That seems to be the case for the majority of people in Western countries.

The tiny house movement has been in full swing for quite a while now, but even those who don’t want to live that small are still going smaller. Many people are selling up standard size or large homes and are moving into smaller homes or apartments.

So what are the main reasons downsizing has become so popular and seems to be on the increase each year?

We’ll take a look at answering some of those questions in this post and discover why home downsizing is a trend that’s likely to continue for a long time to come.

 

What Are the Reasons Why People Are Downsizing Their Homes

 

Money Seems To Be the #1 Reason

Finances, cashflow, budgeting, whatever label you wish to put on it, money definitely seems to be the major reason why so many people are choosing to downsize. That’s not to say it’s everyone’s top reason, but it is the main reason for many.

Everyone knows that houses cost money, and the bigger the house, the bigger the expense’s bill. This includes the mortgage as well as the upkeep and even the cost of utilities like power and water.

Some people are suffering under a veritable mountain of crippling debt, and often it’s a huge mortgage that’s the killer. Selling up the big home and buying a smaller home either reduces that debt massively, or even clears the debt altogether.

What a relief that is.

Paying for the maintenance and upkeep of a larger home also eats away at the monthly budget in sizeable chunks. Things like paying for someone to do the lawns and the gardens if you don’t do them yourself, possibly a cleaner to do the house once a week, repairs, upkeep and the list goes on.

More rooms means more electricity likely gets used, because there are more lights and appliances on. Bigger homes have larger hot water systems, and usually more water is consumed as well.

Downsizing really makes a lot of financial sense if money isn’t flowing in by the truck load.

 

Bigger Homes Consume More of Your Time

Some people spend every single weekend just cleaning and looking after their big house. Even free time after work might also be used up doing stuff around the home.

This is totally fine if that’s what someone loves to do, but if it’s not, then their life is basically being ruled by, and taken over by their house.

They are living and working for their house rather than just having a home to live in. That’s not really a full life if you are yearning to do other things, but find you just don’t have the time any more.

Some people in big homes have the budget to pay others to do the household chores for them, but for many this simply isn’t the case and they find themselves working all day at their jobs, then spending their “free time” looking after the home.

When it comes to general cleaning, a large home is obviously going to take a lot longer to clean than a house half the size. Even just a simple chore such as doing the vacuuming will be so much quicker in a downsized home.

Along with money, freeing up your time is one of the greatest advantages to downsizing. With less to clean, maintain and look after, those enjoying the downsized lifestyle actually have more genuine free time to do the things they truly love doing.

 

Big House

 

A Larger Space Is No Longer Needed

There are plenty of other reasons why people choose to downsize , apart from money and time. Just like people starting a family will outgrow a small home, those on the opposite side of that – people whose children have left the nest – find they now don’t need as much space and decide things like “why have a 4 bedroom home when a 2 bedroom home will now do?”.

If there used to be 6 people living in the larger house and now there are only 2 or 3, does it still make sense to pay for and maintain such a big place?

In most cases it does not, so people decide to sell up and buy something smaller and more manageable.

Retirees often downsize too. They’ve just finished their working lives and want to kick back and enjoy the golden years. They don’t want to be living in big houses with loads of upkeep. They want something comfortable, cozy and more simple so they can spend more time socialising and having fun, getting out and about.

 

Living More Sustainably

This is a big one for many who downsize, in particular those people who choose to move into a tiny home.

Often a major part of the reason for the decision is to live a more sustainable lifestyle that’s kinder to the environment and reduces their overall carbon footprint.

Smaller living means using less power, less materials to build a house, less water consumption, less land space required to put the house on and so forth.

Some ways those living in tiny homes manage to live more sustainable, alternate lifestyles is by harvesting and using rainwater, recycling grey water for other purposes, such as watering the plants, growing their own vegetables, buying food in bulk to reduce packaging waste.

The list goes on really.

Sustainability and being more environmentally friendly is something most of us are far more conscious of these days, and tiny home living often goes hand in hand with a desire to help save the planet.

While none of us necessarily have to downsize to live a more sustainable lifestyle, as there are numerous ways to help the planet, it is a driving factor for many people who want to simplify their daily lifestyles and lead a life that’s more organic in the process.

 

Vegetable Garden

 

The Wrap

There are many very positive reasons for people to downsize where they live, and in this post we’ve simply covered a few of the more major ones.

Living smaller doesn’t mean you have to do without some of life’s little luxuries. In fact, when it comes to getting out and about and having experiences, you’ll discover you have a lot more options, because both your money and your time is freed up more.

Successful downsizing often comes down to forethought and planning. Then you can successfully make the transition smoothly and advantageously.

 

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