Downsizing can be a great thing. In fact, it is why people
have looked into the small homes movement. The fact is, downsizing equals
cheaper living and thus it is perfect for those looking to retire.
Why retirees should downsize: Let us face it, the cost of living
just keeps increasing. And you know what, retirees exist on a limited
income for at some point the money stops coming in, or at the least in very
limited quantities. So what happens with downsizing is that living
becomes cheaper. Property wise, living in a smaller home, or even
apartment, or smaller place in general means less taxes and maintenance.
So you could go from paying something like $8,000 a year in property
taxes, to paying half that or less. Those savings go a long way without
even factoring in cheaper maintenance costs. Smaller living means less
energy to heat the home, and less energy to clean. As such, that means
more savings. Also, slimming down allows you to pocket some of the value
of the home you had been living in to temporarily supplement your income.
This is the cost savings aspect.
The impacts on your body are also good.
What I mean by this is that you need not have a big house to hold all
your stuff. In fact, downsizing means getting rid of excess stuff you
know you do not need. This can become a stress relief. Also,
smaller living means having to make less effort to get from point A to point B
in your home. As such, there is less wear and tear on the body. We
do not need a big home past a certain point as we no longer have kids, or
roommates to live with. In addition, the earlier you move the less
stressful it is to do so. So basically, it is less stress and less
clutter which is healthy.
Conclusion: Downsizing can be beneficial for
those who are retired, whose kids have moved out, or just for those who feel
their home is way too big for them. What will result is cost savings and
a more positive living arrangement for these people who decide downsizing is
right for them.
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