Increased Utility Bills
Downsizing to a smaller home reduces utility bills, as nearly half of energy usage goes toward heating and cooling. In colder regions, less space means significantly lower energy costs, allowing you to maintain comfort with the same water and lighting while enjoying savings on monthly power bills.
IncreasedCashFlow
Lowerutilitybillstranslatetomorecashtospendonotherthings.Youcanredirectthat moneyintoarainydayfund,paydownyourmortgage,traveltheworld,orbankrolla newbusinessventure.Downsizingcanmakeiteasiertoprioritizethethingsthatare mostimportanttoyouandtakeconcretestepstowardachievingyourgoals.
FewerMaintenanceCosts
Downsizingreduceshomemaintenancecostssignificantly,assmallerspacesrequire less cleaning and fewer repairs. Moving to an apartment or condo eliminates many maintenanceexpenses,whilebuyingasmallerhousemeanslowerpropertytaxesand reducedcostsforserviceslikelandscaping.
ReducedClutter
Movingintoasmallerhomeforcesyoutoscalebackonclutter,makingiteasiertostay organized.Usethetransitiontodeclutterandexploreaminimalistlifestyle,keepingonly thethingsthatyoutrulyneedandlove.
LessCleaning
Lessstuffandasmallerspacemeanslesscleaning.Almosteveryhouseholdchorewillbe easier and less time-consuming in your new home. You will have fewer square feet to vacuumandmop,smallersurfacestodust,andlesstotidy.Downsizingwillsaveyoutime andeffortifyouhandleyourowncleaning,orsavemoneyifyouhireacleaningservice.
LessFinancialStress
Althoughyouwillhavelessphysicalspaceinyournewhome,downsizingwillgiveyoumore breathingroomfinancially.Thelowerphysicalandfinancialtollcanhelpreduceyourstress levels whichcanhaveseveralhealthbenefits.Youmayseepositivechangesinyourmood, weight, sleep, focus, and relationships. You might also experience fewer headaches and stomachaches,lessmuscletension,andastrongerimmunesystem.
Planning for a downsize can take extra time and energy. However, the effort will pay off on moving day and in the following weeks as you settle into your new home. Use these tips to help you plan downsizing to a smaller home.
Begin by reviewing how downsizing affects your budget. Create a written budget detailing current monthly and annual expenses. Then, develop a second budget to project costs after moving, factoring in rent or mortgage payments, insurance, property taxes, and HOA fees to understand your new financial landscape.
Alongside your monthly budget, create a comprehensive moving budget for one-time costs like packing supplies, equipment rentals, and moving services. Consider these questions:
Will you hire a full-service moving company or go the DIY route? Will you pack and unpack yourself or hire professionals? Will you invest in moving insurance?
Factor in hidden moving costs like repairs, new furniture, paint, and initial groceries. For crosscountry moves, budget for airfare or hotel stays to avoid overspending during the transition.
After organizing your budget, create a to-do list. Compile a moving binder to track quotes, receipts, and contracts, ensuring you stay organized and on schedule during a potentially chaotic moving period.
Research thoroughly by seeking recommendations, checking reviews, and requesting quotes from multiple movers. Have a backup plan for delays, and prepare for post-move tasks like unpacking and updating your driver’s license.
Toward the top of your to-do list should be decluttering your current home. Depending on the size of your home and how long you’ve lived there, this task can be daunting—but it can also be liberating. Here’s what to do.
Cleanoneroomatatime.
Decluttering is easier when tackled one room at a time. Start with less-used spaces like the basement or garage, deciding what to keep and what to discard. Pack and clean thoroughly before moving to the next area. If purchasing moving insurance, create an inventory to simplify potential claims for lost or damaged items.
You have three options for disposing of unwanted items: throw away, donate, or sell. Donate gently used items to organizations like Goodwill or local shelters, which may offer pickup services. Alternatively, sell items through yard sales or online platforms like Facebook Marketplace, Craigslist, eBay, or local thrift stores.
SetUpDeclutteringRules ConsiderYourNewSpace
To declutter effectively, establish ground rules by sorting items into four piles: keep, donate, throw out, and undecided Revisit the undecided pile after sorting. Consider the 20/20 rule discard items that cost under $20 and take less than 20 minutes to replace or purge anything used less than 80% of the time.
As you sort and purge, keep the layout and dimensions of your new home in mind. How big are the closets? How much storage space does the home have? How do the room sizes compare to those in your current home? Measure your current furniture to make sure it will fit. If it’s too big, sell it and use the money to purchase smaller items.
Thoughtful design and clever organization can make your new home feel more comfortable. The goal is to create a home that feels cozy but not cramped, and spacious but not sterile. With that in mind, here are a few tips for maximizing your smaller space.
UseSpace-SavingFurniture
When shopping for new furniture, prioritize space-saving and dual-purpose pieces that fit your new home's dimensions. Avoid oversized items, busy patterns, and overcrowding. Opt for light colors and clean lines, and consider fold-away furniture or options with hidden storage, like beds with drawers or ottomans that serve as coffee tables.
ConsiderRentingaStorageUnit
If you have infrequently used items, consider renting a storage unit, with options for short- or long-term use, including climate-controlled spaces for delicate keepsakes. Savings from downsizing can offset costs. Use the unit for “maybe” items, committing to clear it out within six to twelve months.
IncorporateaMultipurposeRoom
In a smaller home, rooms may need to serve multiple purposes due to limited space. Children might share bedrooms, or a child's room could double as a playroom. If you work from home, your workspace may be integrated into the dining room or bedroom for functional living.
Inventory your old home’s rooms and purposes, then identify ways to combine spaces in your new home for multifunctional living.
Being intentional with your interior design can make your home look and feel bigger. Although furniture choice is important, it’s not the only thing to consider.
High-contrastcolors:
For small spaces, focus on high-contrast colors. Bright white can make a small room seem more spacious, while dark or bold colors can provide an illusion of depth—especially in a room with no windows. What you don’t want are the in-between colors. Medium shades will make your space feel smaller.
Naturallighting:
Let in as much natural light as possible with breezy, sheer curtains or blinds. Draw the eye upward with visually interesting light fixtures and emphasize vertical or horizontal lines with shiplap or paneling. In a room with small windows, use a mirror to reflect whatever light does make its way inside. White fixtures can also help reflect light.
Decor:
When choosing decor, remember that less is more. The room will look bigger with a few high-quality pieces than with lots of little items. For instance, you might choose one large painting rather than designing a gallery wall.
Downsizing can be daunting, especially for those used to larger homes, but it often proves financially beneficial and liberating. With organization and planning, homeowners can successfully declutter and transition to a smaller space, making thoughtful design choices to retain the things they cherish most while enhancing their quality of life.
Atwhatagedomostpeopledownsizetheirhome?
The age at which most people downsize their homes is between 69 and 77 years old, according to the National Association of Realtors. Baby boomers and the Silent Generation sell their homes to move close to friends and family or because their homes are too big.
ShouldIdownsizetoasmallerhouse?
Whether you should downsize to a smaller house depends on your personal circumstances. Downsizing often means less upkeep and can help you save on your household bills.
Howdoyoumovefromalargehousetoasmallhouse?
When downsizing from a large house to a small house, go room by room to minimize your belongings. Sell or donate unwanted items and keep the layout and dimensions of your new home in mind. Sell anything that you think might be too big and use that money to purchase smaller items that better fit the space.
