Why is downsizing such a popular practice these days? There seem to be two main reasons. One, people want to save money wherever they can. And two, they want to live more meaningful lives with less stuff. If you’re considering starting on the path to downsizing, Naylor Properties can offer both inspiration and practical tips.
Downsizing typically means owning fewer things and taking up less space. Most people feel naturally motivated to have fewer belongings, and there might be a scientific reason for that.
Very Well Mind confirms that clutter impacts mental health in negative ways. By eliminating clutter, you can lessen procrastination, stress less, focus better, and even improve your relationships.
Plus, fewer possessions means less cleaning, which may mean more time for hobbies and loved ones.
The more belongings you have, the more time you need to spend organizing, maintaining, and using those belongings. Letting clutter build up can stress you out and also create feelings of guilt if you’re not using all your possessions often.
Many people say that getting rid of things is cathartic and that there is power in letting go of things that don’t serve you. As a psychologist writing for The Conversation notes, eliminating clutter through downsizing can help you feel invigorated, reduce stress, and cement healthier habits.
It may feel daunting to look at a house full of items you feel an emotional connection to, but walking through the process of saying goodbye to things that no longer serve you is immensely freeing!
Living in a too-big home involves extra expenses. Heating, cooling, and maintenance can all add up. Through downsizing, you’ll not only reduce those costs but also walk away with a lump sum after selling the home.
There are some expenses involved with selling your property, though; you might need to make renovations before listing or, at the very least, repaint.
Try out a home sale proceeds calculator to estimate your potential profit margin so you can make an informed decision. The payoff might be larger than you expect!
Buying a more affordable and smaller home makes sense when you’re downsizing. Once you have lower monthly living costs, that may free up finances for other essential items.
For example, as long as you’re paying down a mortgage, your home must have property insurance. Additional coverage for your appliances and household systems, however, is not included in that premium, per the Insurance Information Institute.
Investing in a home warranty protects against unexpected repair costs for things like your home’s plumbing, electrical, and HVAC systems. Various options for home warranty companies often renew yearly and typically cover most household appliances, offering more peace of mind and lower maintenance expenses.
Saving money is a desirable perk of downsizing, but it’s not the only goal. With more time and headspace to dedicate to self-care, the decision to downsize could change your life.
Finding rewarding things to do can replace the desire to accumulate items. Giving back to yourself could be as simple as visiting a local park, starting a workout habit with a gym membership, or investing in new adventures.
Travel might become more possible, and the financial freedom of downsizing might mean you can splurge on things that bring you joy, whether that’s relishing fine dining or donating to charity.
Downsizing may not solve all of life’s problems, but embarking on the journey has countless benefits. From setting aside funds for a home warranty to reducing your monthly expenses with lower energy costs, the financial benefits are significant. By starting small, you can build up to big life changes that will impact far more than just your home.
Written by Natalie Jones | firstname.lastname@example.org