4 Benefits of Downsizing Your Home

When your children are all grown up and have homes of their own, this time of year can feel a little disorienting. Parents get so used to the bustle of back-to-school season that it's completely normal to wake up thinking you have to get a child ready for the bus before remembering they're 25 years old and don't even live at home anymore. 

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That's why Autumn is a time when many parents of adult children start to consider the possibility of downsizing, selling their home built for a family in favour of one designed with a couple in mind. It can be a daunting decision but, depending on your unique circumstances, it may be in your best interest. 

Where you choose to live is a deeply personal decision and no one can tell you what's best for your unique needs. But if you are sticking with your large, family-sized home simply for sentimental reasons, or because you never really considered downsizing, there are many potential benefits to consider.

1. Cost

Depending on your local real estate market, selling a large home and purchasing a smaller one in a comparable neighbourhood could be a financial windfall. In many parts of the country, a smaller home, condo, or apartment could be tens of even hundreds of thousands of dollars less than what you'll get selling your current residence.

On top of that, smaller homes are typically cheaper to maintain - lower utility bills, lower property taxes.

If you have no need or desire to cut costs, downsizing can be an opportunity to give yourself and your spouse a huge upgrade in living standards. If you purchase a new, smaller home with a reduced lot size for around the same price as you sell your current residence, you can typically choose a much more exclusive neighbourhood, or a community that provides services and amenities you enjoy. 

2. Relaxation

Never underestimate the physical and emotional impact of a home that is just right for you and your spouse, a home that perfectly meets your needs and contains your belongings. Whether it's clutter or unused rooms, living in the wrong type of house for your current circumstances can make you feel stressed or anxious. 

Downsizing doesn’t have to be drastic - going from a large family-sized home to a smaller home with reduced lot size is also an option.

Downsizing doesn’t have to be drastic - going from a large family-sized home to a smaller home with reduced lot size is also an option.

If your current space just doesn't work anymore, downsizing might be a great way to give yourself peace of mind. Imagine fully using every part of your home, being surrounded only by the belongings that you specifically chose because you love them and they create a positive atmosphere. 

If you are the type of person who clings to your current home because of your cherished memories of raising your children there, don't forget to take the future into account. Imagine the novelty, the excitement, of welcoming your children to your new home when they visit. Think about showing off the interior design and decor that truly reflects who you are as an individual. Your children are adults now, and a new, downsized home is a great way to nurture a relationship closer to peers.

3. Chores

Small homes are simply easier and faster to clean. Not only do you have less floor space to tidy up, but there are fewer belongings dragging you down as well. Everything from laundry to dish-washing just feels that little bit less taxing. 

4. Lifestyle

Custom, Ontario-made cabinet

Custom, Ontario-made cabinet

Whether conscious or not, a large family home can restrict the way you live your life. The increased costs could mean fewer vacations, the increased demand on your time for cleaning and maintenance can mean less leisure time with family. Downsizing is a great way to set yourself up for the future. You feel more liberated, more able to say yes whenever opportunity comes knocking.

Years from now, a smaller home can even prove beneficial when it's time to sell. In most real estate markets, smaller homes are in higher demand because young couples are buying and even families tend to be much smaller than in the past. 

If you are considering downsizing, at Buy The Yard Interiors our experts can show you just how exciting it is to create exactly the atmosphere you want in a smaller home. We offer custom furniture options suitable for smaller spaces and design services to help you choose what to move and what to replace. Please don’t hesitate to contact us if you have any questions!