Bigger isn’t always better. In fact, the concept of trading excessive space for a more compact way of living is gaining traction – and not just amongst empty nesters. Downsizing (or ‘right sizing’ as it’s also known) offers plenty of upsides, ranging from financial freedom to an improved lifestyle, enhanced security and minimised environmental footprint.
So, whether you’re an empty nester, a young professional or a busy family, downsizing could be the answer you’re looking for. Here’s why.
Shrink your floor plan, and your home-related outgoings will shrink at the same time. Smaller homes mean you won’t be heating or cooling expansive hallways and empty rooms, your mortgage payments are likely to reduce (or disappear entirely), and ongoing maintenance outgoings will be minimised. It’s expected that you’ll end up with more cash in your back pocket each month to spend on things like holidays, investments or your retirement.
If you’ve been in your home for a while, you probably no longer notice the time and effort you put into your revolving list of chores. Moving to a more manageable, lower-maintenance space means less time spent cleaning bathrooms, mowing lawns and clearing gutters. If you’re a busy family or professional, you’ll have more free time; if you’re an empty nester, you’ll be future-proofed against chores that might become increasingly difficult to manage.
Whatever circumstances lead you to downsize, approach the change as an opportunity for a fresh start. It’s the perfect excuse to shake off old habits, refresh your perspective, and free yourself from unwanted possessions and excess ‘stuff’. While adopting a minimalist lifestyle isn’t a must, a decluttered home is easy to keep clean and tidy, and you’ll find it liberating too!
Living smaller encourages you towards a lifestyle of less waste and a lighter carbon footprint. Newly built homes require fewer materials to construct, consume less energy, and encourage you to be intentional with any new purchases.
Moving to a more compact home can mean buying in a location you love becomes achievable. Whether it’s a townhouse or apartment in a higher-density location with restaurants and cafes on your doorstep and a shortened commute to the CBD or a residential land community closer to nature or family, not being confined to the quarter-acre dream opens up a world of possibilities.
At any stage of life, feeling secure in your home is fundamental. Smaller homes like apartments or townhouses often provide you with a perfect lock and leave proposition, with proximity to neighbours and secure access in newly constructed apartment buildings giving you increased peace of mind. The strong sense of community found in residential developments means neighbours often look out for one another, and a watchful eye will be kept on your home whether you’re there or away.
Feeling time-poor and hamstrung by finances are two of the most significant factors pulling us away from living the lives we dream of. By downsizing your home, you’ll instantly feel less overwhelmed by the demands of a larger home, reduce your home-related outgoings, get time back in your day, and ultimately, feel liberated.
Ready to learn more about downsizing? Our guide, The Decision to Downsize, walks you through the entire process, from choosing the perfect home to tips for getting your finances in shape and a step-by-step guide to the practicalities of downsizing. Discover the downsizing options offered by Cedar Woods. Explore our Project Finder now!