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Downsizing: Why I Chose A Condo Over Buying Another House

Downsizing: Why I Chose A Condo Over Buying Another House

Downsizing can be difficult, but it’s especially hard when you’ve lived in the same house for years, as I have. But when the kids have moved out and you aren’t using the extra bedrooms, having a house all to yourself feels “too big.” It isn’t easy to leave behind all that good history, but the benefits of a smaller home can be well worth it!

If you’re thinking about downsizing your home as I have, here are a few things to consider before you make your decision, and some changes you can expect when you downsize from a large house to a smaller apartment or condo.

Are there benefits to a smaller space?

Actually, yes! As you might imagine, having too much space is the primary reason that homeowners downsize, as was the case for me. Larger homes cost more to maintain and can feel empty if it’s just one or two people living there.

I also found that I stopped throwing old items and clutter away in my big home, it just started to build up since there was so much storage space. Downsizing to a smaller home has helped me maintain a lifestyle that is more efficient and affordable but no less luxurious.

Are there other benefits to downsizing?

I actually found many benefits to downsizing.

1. Lower Costs

When you have a big home, your monthly expenses will be higher. This includes mortgage payments, homeowners association fees, insurance, and property taxes. With a smaller home, those costs can go down significantly, leaving more money for the things you enjoy.

2. Newer Building

For many people, the chance to upgrade to a newer building is a big factor in the decision to downsize. There are many benefits that go along with that. For example, when you move into a new home, everything from your carpets to your plumbing will be brand new.

When I moved into my new condo, for example, all of the appliances were less than 3 years old, the windows were energy-efficient, the plumbing and carpets were brand new, and everything was polished and updated. This has helped me save time and avoid maintenance headaches.

3. Central Location

Additionally, downsizing to a condo can help you move closer to the center of town, giving you easier access to community amenities like the pool, the library, etc.

I actually recommend you view different neighborhoods on Google Maps or the ‘Nearby Places’ feature that all properties have on AQRE Home, and see what kinds of things are around you. I live in a great area with lots of amenities like grocery stores, restaurants, and public transportation, and I chose it thanks to my online research.

4. Emotional Benefits

Downsizing can be difficult, but it’s especially hard when you’ve lived in the same house for years, but it can also be nice to have a fresh start in a new place with no history attached to it.

You get to decorate your new place however you want for the new chapter in your life and make the kind of memories that only come from moving into a new home.

What are the downsides of downsizing?

If you’re thinking about downsizing your home as I have, there aren’t many real downsides to consider, but there are a few.

1. Downsizing Your Possessions

One thing you might want to think about, though, is the idea of “downsizing” your possessions and deciding which items you truly want to keep.

Ask any couple or family that has downsized their home about the toughest part, and many will share that it was choosing what stays and what goes. When space becomes more limited, everything from shoes to appliances needs to be considered.

I suggest spending some time going through each room in your house, taking an inventory of what you have. Are there any family heirlooms or other emotional items that you can’t part ways with? After that, is there anything that will be usable in your new home? Everything else should be considered fair game. Sell it, donate it or toss it out.

2. The Hassle

Don’t forget that if you own the house you are living in now, this might mean having to list and sell it while buying your new home. This is a common situation and isn’t a significant problem, but it does put a lot of people off the idea of downsizing since it will require a bit of scheduling and financial planning.

Finishing touches – Am I ready for this change??

The final and most important thing to consider before you downsize is – are you ready to make this change? 

Many people look at the idea of downsizing with fear. They might be concerned about changes in their social life or healthcare needs, among other things.

Talk to a professional who can help you go over the benefits and disadvantages of making this change before you take the next step, like the wonderful customer care team at AQRE Home that has over 20 years of combined real estate experience.

Reach out to them through AQRE’s online chat, or contact them at info@aqrehome.com or at +1 (844) 424-2773.

 

Now that I have gone through all the reasons why I decided to downsize, I hope that you are able to make your own inspired choice! Downsizing is a big life decision, but it can help you save money, time, and energy.

When you are ready to make a move, I recommend you visit AQRE Home to see their large selection of condos and apartments! Comment below if you find one that makes you want to downsize too.

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