Living big isn’t necessarily living better. It often costs more to live in a big house with a big yard so now may be the time to downsize your home for those wanting to cut costs and save some money. The switch to smaller homes isn’t surprising when considering the benefits to moving, especially when it comes to sheer cost savings. Whether residents are spending less cash or conserving their valuable time and resources, they’re going to see an overall difference in their bank accounts. Here are three cost effective reasons to downsize your home that can lead to big savings:
1. Reduced Maintenance
Maintaining a large single-family dwelling can be expensive. Repairing plumbing, painting walls, taking care of a large yard and other tasks can have serious costs, as residents are forced to invest their valuable time and resources into these recurring chores.
Switching to a smaller space means less maintenance, which can lead to serious savings. Multi-family dwellings typically have building managers who’s responsible for upkeep, leading to some serious savings.
2. Heating, Water and More
Utilities are much less costly after downsizing. The less square footage a home has, the less electricity, water and other utilities it will require. Residents have the potential to save hundreds of dollars in costs.
There’s also an added benefit if there are shared utilities divided between other residents of multi-family dwellings. Splitting subscriptions or services like Internet, cable and television can lead to much lower prices. Moving to smaller spaces makes these invoices less expensive, which gives residents a bonus every month.
3. Location is Key
Townhomes, condominiums and other compact dwellings are often located in central areas close to useful services and businesses. This convenience is a major cost-cutting reason that encourages many people to move.
The Nielsen Company actually found that 62% of millennials would choose to live in communities that combine residential homes and businesses. By being closer to things they value, residents save themselves time, a valued commodity.
Why Moving with NextHome Valleywide is a Smart Move
These three cost effective reasons are major factors as to why people move into smaller spaces. It’s hard to resist the saved time and resources, reduced maintenance, lower utility bills and increased convenience. And while you may start with general internet searches when looking for your next home, consider saving time and contacting NextHome Valleywide first. Not only can we set you up with the most up-to-date search software but we can help market and sell your current home too.