Posted by on Jun 7, 2017 in Finance & Insurance | 0 questions

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When it comes to downsizing to a smaller home, but many people think that this is only something people do when they get to retirement age. But the truth is that there are a number of advantages involved in taking this step and moving to a new location. There are many reasons why people decide to get a bigger home in the first place. Society seems to dictate that having a big house is a sign of success, but here are a few reasons why you might choose to live in a smaller home.

It is Easier to Maintain

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Larger houses require a great deal of time and effort to properly maintain. Not only this, you will also spend more money on cleaning products or you may even end up hiring a cleaner to help you out. Smaller homes are much easier to look after and you won’t spend so much of your time cleaning, meaning that you are able to channel this energy into something more productive – maybe even starting your own business.

It is Less Expensive All Round

First of all, smaller homes are cheaper to buy in the first place. If you are already living in a larger house and decide that it is time to downsize and sell your house now, you can free up some cash which you can invest in other areas of your life. As well as this, there are a host of other factors that make owning a smaller home less expensive including insurance, taxes, heating and electricity amongst other things.

Less Temptation to Accumulate Things

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When you have a larger home, you are much more likely to fill it up with things that you don’t really need. Living in a smaller home puts everything in perspective and you are more likely to focus on the thing you need. If you are living in a larger place and you decide to downsize, you then have the opportunity to get rid of any clutter that you have been accumulating over the years. With so many websites and apps out there with which you can sell your things, there are more opportunities than ever to make some extra cash.

There is Less Decorating that Needs Doing

Big homes require a huge amount of decorating work and maintenance work over the years. If you don’t keep up this work, your home quickly starts deteriorating and looking tired. However, if you have a smaller property, you don’t need to so as much work to have a great looking home.

Less Debt and Risk

If you are spending less of your salary on your monthly mortgage payments, you will obviously find yourself in less debt and you will be in a more financially stable position. Many people choose to get a bigger place when they get a pay rise or move to a new job, but you should ask yourself whether it is worth spending this cash on something else if you really don’t need the extra space.