It’s essential for your rental home to align with both your needs and lifestyle. If your situation has recently shifted, you might be asking yourself whether downsizing to a smaller home is the right choice. While extra bedrooms and spacious homes work for some, more room also brings more upkeep and cleaning responsibilities.
As the well-known saying goes, “More isn’t always better.” Sometimes it’s simply too much.” Before choosing to downsize your rental, let’s think through a few key considerations.
When downsizing makes financial sense
Larger rental homes typically come with higher costs in most places. They’re more costly to maintain and have higher utility expenses. This is a key reason why many think about downsizing, to reduce expenses. If your financial situation is different, downsizing your rental might be a smart move.
Even if you can manage a larger home, consider the other ways you could spend that extra cash—on a hobby, traveling, or investments. This perspective shift can lead you to make a choice that considers both space and your overall financial health.
Reducing clutter and simplifying your living space
When considering downsizing, assess your belongings and figure out how you plan to manage them. If you own a lot of furniture, heirlooms, or collectibles, they may not fit in a smaller space.
Paying for a storage unit is an option, though the monthly costs could build up quickly. Be sure to check if the storage unit is climate-controlled, as temperature changes and dust can ruin your treasured items. If you can, downsize your belongings before transitioning to a smaller rental home.
Spending less time cleaning
Moving comfortably around your rental home plays a big role in finding the ideal fit. If your current rental includes stairs or features that make access tough, downsizing to a one-level home could be a smart move.
With less cleaning and maintenance, smaller homes allow you to spend more time on other activities rather than household chores.
Living closer to specific amenities
If you’ve been eager to live nearer to cultural centers, nightlife, or other attractions, this could be reason enough to think about downsizing.
Homes near high-end amenities are usually more costly, but by downsizing, you might find something affordable that keeps you close to the places and events you enjoy.
Is downsizing the right choice for you?
Perhaps you’re considering downsizing because life has shifted, along with some of your priorities. With the kids grown and retirement nearing, you may be looking forward to spending your free time away from home. Downsizing to a smaller rental could be the gateway to these possibilities, providing you with the freedom and flexibility to do everything you’ve dreamed of and more.
If you’re ready to search for a new rental home in Alexandria or the surrounding area, Real Property Management Optimum is here to assist you. Our rental homes can accommodate different stages of life and a variety of lifestyles. We’re here to help you find your perfect rental home! Browse our available listings today and start your downsizing journey!
Originally Published on September 24, 2021
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
