As life goes on, people may see the need to purchase a large home. At some point, there may be a need to downsize from a larger to a smaller home. Downsizing can be a good option to consider, and it comes with quite a few advantages. Here are some of those advantages that homeowners interested in selling their current home in favor of a smaller home should know.
Smaller Homes are Less Expensive
Big homes require more energy to keep them lit and warm, but smaller homes don’t require the same amount of utilities, so that means smaller bills for the homeowner. Moving to a smaller home can potentially save hundreds of dollars every month on utility bills alone, and even more once the mortgage is factored in. Smaller homes are typically less expensive than large homes, so that means a smaller monthly mortgage.
Smaller Homes Need Fewer Chores
Most people don’t like doing chores, and in a large home, chores come in excess. Things like vacuuming, washing windows, and mowing the lawn all take up a lot of time, and in a large home with lots of windows, carpet, and a huge lawn, they take up even more time. Downsizing to a smaller home can help reduce the amount of time spent doing daily chores so homeowners have more time for the hobbies and activities they enjoy.
Friendlier Toward the Environment
Smaller homes tend to have lower utility costs each month, and on top of that, they’re also much more green than large homes. The less expensive a home’s utility bills are, the less electricity, natural gas, and water the home uses. This makes a home’s carbon footprint smaller, so not only does the homeowner get to save money on bills, but the environment benefits as well.
Helps Prevent Unnecessary Spending
One thing many people don’t think about when downsizing is how a smaller home can help cut down on unnecessary spending. This is because a smaller home has less space for things, so homeowners are always conscious of what the buy and where they’re going to put it all.
Promotes Spending Time with Family and Neighbors
Another advantage of small homes people don’t think about often is how it helps encourage spending time with people. Small homes have fewer rooms and less space for kids to hide in, which can encourage family time, while large homes can lead family members to isolate themselves. Small Irving Park homes also tend to have smaller yards, which can make meeting the neighbors much easier when they’re only 20 feet away as opposed to 100.
Easier to Sell
All homes will have to be sold at some point during their lifetimes, and one of the keys to finding a buyer is to have a home that is appealing to a wide variety of people. Small homes are typically easier to sell than large homes because they’re more affordable, which makes them accessible. And as time moves forward and people are becoming more environmentally conscious, small green homes are especially appealing compared to large homes that waste energy and cost far more. These factors work together to help make small homes easier to sell than their big counterparts.
These have been just some of the different advantages homeowners can take advantage of by downsizing their home. When it comes to saving time, money, and energy, downsizing to a small home may just be the way to go.
Ted Guarnero, REALTOR® is a full-time real estate agent with over 1000 homes sold and $400 million in sales. Working with Compass real estate offering professional and effective real estate services to help you succeed in the local real estate market. Visit www.seeChicagorealestate.com for information on downtown Chicago real estate and to get in touch with an expert in the Chicago real estate market. Before you hire your next Realtor call Ted Guarnero 855-See-Chicago, it's on the House !