Are you an empty-nester, a retiree or are you living in a home that no longer has extra tenants? It might be time for you to consider downsizing. It's an exciting time, because a smaller home might mean you end up with some leftover capital to spend however you want! Alternatively, you could spend it all on a smaller, more modern home closer to your suburb's shops.
Downsizing doesn't necessarily mean moving into a tiny home.
Downsizing doesn't necessarily mean moving into a tiny home – in fact, you might not be moving into a property with less floor space. You'll simply be removing a few of the unused bedrooms from your life, which can make your property feel more comfortable. You won't keep walking past empty beds that make you remember when your kids were still living at home and you can consider it a fresh start to a new chapter in life.
Why do people choose to downsize?
Downsizing occurs for a number of reasons. Big houses can also be difficult to maintain over a number of years, which can exhausting for everyone. From cleaning to heating or cooling to gardening, sometimes large houses aren't all they're made out to be.
You may also decide you need a property on one level, therefore an apartment could be a good option for you now and in the future.
Some people decide to downsize in order to shore up their finances – an extra cash injection (and buying a cheaper home) can relieve some financial pressure, encourage you to travel or allow you to put more into your savings.
Is downsizing for you?
Do you often wonder why you're living in such a big house, or worry about your mortgage repayments because you bought a little outside your means? If so, downsizing is a good move. You won't feel so stressed about your finances giving you that welcome relief.
When you buy a smaller home, you'll have the advantages of being less tempted to keep accumulating more and more things. You won't have room to keep every single newspaper from the last 10 years! Further, it can encourage family bonding, because you'll be in a smaller space. You don't have to be cramped, but you may find you're spending more time with your loved ones.
That's where we can help – with decades of experience, we know a thing or two about the Canberran market. Let us give you a hand, and get in touch with Peter Blackshaw Real Estate today.