It’s not downsizing at all—it’s rightsizing. Your home should be a refuge and a place of comfort. If it’s a source of stress instead, it may be time to make some adjustments. Rightsizing can be an exciting opportunity to focus on what’s important to you and channel your resources into things that truly make life better.
Less Stress! A large house is a big responsibility. If tending to yardwork, maintenance and bills is taking up too much time and energy, finding a new home that needs less upkeep can be a serious lifestyle upgrade. There’s no need to sacrifice what you love — the huge variety of home offerings today means there’s something for everyone. Avid gardeners can find rightsized homes with ample yards, while those who like walkable communities with lots of social activities can find land-lease communities. If you hate maintenance, condos could be for you. In short, there’s a style of home out there that will let you spend more time pursuing your favourite things.
Free Your Equity. A home with a smaller mortgage (or no mortgage at all) can unlock some serious cash to spend on what really makes you happy. A rightsized home can also mean lower costs for utility bills, property taxes, insurance and other home expenses. Money that you no longer have to devote to your home can be put towards what matters most to you. Whether it’s putting the kids through school, vacation plans, a golf membership or investing in those flying lessons you’ve always wanted, you’ll be able to use your money for things you love instead of having it locked up in your house.
Be More Environmentally Friendly. One of the best changes we can all make for the planet is to consume less. Finding a rightsized home can be a great step in this direction. A smaller home will consume less energy, especially homes that incorporate high-efficiency windows and heating, smart thermostats and other eco-friendly tech. Smaller homes also require less of everything, from furnishings to cleaning products. A home in a walkable community that offers amenities and social activities nearby can help you further reduce your carbon footprint.
Having less house stress to worry about can be truly uplifting. The variety of downsizing strategies today creates an exciting opportunity to find a home that helps you pursue your ideal retirement lifestyle.