Many people are trying to save money in every way that they can. People are taking shorter trips, taking less time off, even cutting their lunch breaks short so that they can seem like they still have the same drive and fire for their jobs that they once had. It’s a little backwards because in a correct world you would be able to ease the shifter into cruise control and have other, younger people working harder with your career intact. Regardless there is another trend sweeping the land as people begin to see how downsizing your house can save you money in the long run. Here are some other ways that taking a bite out of the physical size of your home can save you a bundle of money!
Electricity: When you’re living in a smaller home you have fewer things to power. Less plugs to have things plugged into, less lights to light, less air conditioner to cool and heater to heat; just less energy to expend to get you the home you desire. While the savings on electricity might seem inconsequential consider how much heating a 5000 square foot home costs and compare that with a 500 square foot apartment. Now you’re talking some savings.
Water: You may not think that you would save that much in the expenses for water if you pay for your water (you still wash your body, brush your teeth, and wash your dishes, right?) but there are a few areas where you could save some money on water. One of these is in watering your garden; with a smaller home you may not even have a garden! Also think of the costs of running a washer/dryer or dishwasher in an older home. Your water system in your current home may be much older; in truth you may not even have a washer/dryer and dishwasher in your new home. Water savings can add up!
Consolidation: When you’re living in a smaller home you have consolidated your things. You don’t have, physically, as many things. If you have less things you are not forced to buy the supplemental items for these things. If you used to have a porcelain doll collection or a train set and you don’t have these things in your new home then you don’t have to care for all these things you don’t have. While imagining your life without these things may be difficult, you will get over it. And you’ll save money for it!
Hosting: In your smaller home you also won’t be hosting people as often if at all. Your obligations as host won’t be nearly the same in a four room studio as they were in a four bedroom home. While you might feel like this type of life would be alienating to your friends and family, it actually can spurn you on to do more adventuresome things instead! Maybe instead of sitting around your big old house you meet up with family in some exotic location for your annual get-together. The thought can be quite stimulating!
Live Smaller: When you downsize your home you live smaller. You live simpler, you enjoy every moment. One of the biggest concerns you probably had in your old huge home was cleaning! Now you can just get your tiny trash can, wash your one dish and cup, and you’re done! A smaller life is a lot simpler.
Of course your taxes on a smaller, more inexpensive home will also be lower. But consider these five elements if you’re trying to figure how downsizing your home can save you some money!
When you’re making your move, you can maximise your return by fixing up your current house before you sell it to get the best price.
Nick writes for Access Storage, the storage Adelaide specialists. When you downsize you’ll find (surprise, surprise) that you just don’t have that much storage space any more. The answer? A big garage sale or hire a self storage unit.