Your rental home should be a good fit for both your needs and the way you live. Should your circumstances have recently changed, you may be wondering if downsizing to a smaller rental is a good idea. While extra bedrooms and spacious homes work for some, more room also brings more upkeep and cleaning responsibilities.
As the saying goes, “More isn’t always better.” Sometimes it’s simply more.” Before you decide to downsize your rental, let’s think about a few factors.
When downsizing makes financial sense
In most areas, bigger rental homes are more expensive. These homes are also more expensive to maintain and have increased utility costs. This is one of the primary reasons people start to consider downsizing, to save on expenses. If your financial situation has altered, downsizing your rental home could be a wise option.
Even if you can comfortably afford a larger home, think about what else you could spend that money on—such as a hobby, traveling, or investing. This new way of thinking can help you make a decision that’s not only about space but also about what’s best for your finances.
Reducing clutter and simplifying your living space
If you’re thinking about downsizing, take stock of your personal belongings and decide what to do with them. Larger furniture, heirlooms, or collections might not fit comfortably in a smaller rental property.
You could store your belongings in a unit, but the rental fees may become costly over time. Make sure the storage unit is climate-controlled, since heat, cold, and dust can harm your valuable belongings. Consider downsizing your items before you move to a smaller rental, if possible.
Spending less time cleaning
Moving comfortably around your rental home plays a big role in finding the ideal fit. If your current rental has stairs or features that make it hard to access, you might want to downsize to a single-story home.
A smaller home means easier cleaning and maintenance, which is perfect for those who want to spend less time on chores and more on personal activities.
Living closer to specific amenities
If you’ve been wanting to live closer to cultural hotspots, nightlife, or other amenities, that could be a good reason to downsize.
Rental homes near desirable amenities are often more expensive, but downsizing may allow you to find something affordable with easy access to the places you enjoy.
Is downsizing the right choice for you?
You may be contemplating downsizing due to changes in your life and a shift in your priorities. With the kids grown and retirement nearing, you may be looking forward to spending your free time away from home. Moving to a smaller rental could unlock these possibilities, giving you the freedom and flexibility to live out your dreams and more.
If you’re prepared to find a new rental home in Cary or the surrounding areas, Real Property Management Excellence is here for you. We have a variety of rental homes that suit different life stages and lifestyles. Let us help you discover the perfect home! Browse our available listings today and start your downsizing journey!
Originally Published on September 24, 2021
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