Finances
In most places, larger rental homes cost more. These are also typically more expensive to maintain and usually have higher utility bills. This is why many people start thinking about downsizing– to save money. If your financial situation has changed, it may be best to downsize your rental home. Even if you can afford a large rental, you might want to spend that extra money on a new hobby, travel, or investing.
Personal Belongings
As you are thinking of downsizing, consider how many personal belongings you have and what are your plans for them. If you have a lot of furniture, heirlooms, collectibles, or other items, these may not fit in a smaller rental. Placing these things in a storage unit would mean you will incur monthly rental fees that could add up quickly. Consider whether or not the storage unit is climate controlled because heat, cold, and dust can all wreak havoc on your prized possessions. As much as possible, downsize your belongings first before getting a smaller rental home.
Accessibility
Being able to move comfortably within your rental home is an important aspect of finding the right fit. If your current rental has stairs or other features that make access difficult, it might be time to consider downsizing to a single-story rental home. Also, smaller homes mean easier cleaning, maintenance, and lesser time spent on household tasks.
Amenities
If you want to be in closer proximity to cultural centers, local nightlife, or other amenities, you may also want to think about downsizing. Rental homes near top-notch amenities are usually more expensive, but if you downsize, you may be able to find something within your budget that is conveniently near the places and events you love.
Plans for the Future
You might be considering downsizing because your life has changed, and so have your priorities. Having grown kids, or entering retirement age, may have gotten you thinking about how you can spend your new free time somewhere other than home. You feel that downsizing to a smaller rental will free you even more to do all those things you have been wanting to do for so long.
At the end of the day, after considering everything, you are the only person who can decide if the time is right to downsize your rental. But if you’re ready, go ahead and give Real Property Management Optimum a call. We have rental homes designed to support a wide range of life stages and lifestyles. We’d love to help you find the rental home that is perfect for you! You can view our listings online.