Whether the kids have moved out, you are ready to retire, or you are trying to save money—there are a few cons to downsizing your home. Yes, there are plenty of benefits but you must be mindful of the impact of your decision to live in less square footage.
Less Storage Space
First things first, if you are going to downsize your square footage, you must also downsize your possessions. Where this can really get tricky is when it comes to the things you store in your closets, garage, attic, and basement. Most of us hang on to things we no longer use—so moving to a smaller home presents the perfect opportunity to declutter and scale things back a bit. Look for a smaller home with ample storage, invest in space-maximizing home solutions, and if you need to rent a storage space.
Another factor to consider when searching for your new home is if you will still have the space you desire to entertain. If you currently host holidays you may not still have the space. Also, consider your need for guest sleeping spaces and if you need an outdoor space to entertain during warmer weather.
There are always at least a few unexpected expenses that come with investing in a new home. The one many homeowners forget when downsizing is that your current furniture may be too large for your downsized living space. Not all is lost though as you can sell your current furniture to help offset your expenses. Any time you move to a new home you must be mindful of:
· Initial Repairs & Maintenance
· Paint & Wall Coverings
· Widow Treatments
· Energy Efficient Upgrades
· Property Taxes, Insurance, & Condo Association Fees
· And More
You might be excited about going smaller and simplifying your life but it will require you and your family to adjust your daily routine—and potentially your level of privacy. The goal is to feel comfortable, not cramped. For example, an open floor plan 2 bedroom will feel larger than a boxy 2 bedroom that is the same square footage. Depending on the layout there may also be less privacy.
Last but not least, downsizing doesn’t mean you have to live tiny. Reach out to the team at Jerry Sardone Realty to help find your smaller NoVA home. We will help you prioritize your needs while ensuring you have the space required to function and life comfortably.