Here at Krueckeberg we find that many folks we work with, from buyers to sellers, are interested in downsizing. Couples are downsizing once they are empty-nesters. Older homeowners are looking for a maintenance-free alternative for retirement living. And, many young homebuyers are looking for affordable, useable space instead of larger, more extravagant homes. According to reports from realtors associations and the National Association of Home Builders, the average size of single-family homes in America is (and has been!) on the decline. Let’s take a look at why so many folks are downsizing their homes.
It Makes Sense Financially
Trends show younger Americans, especially, seem to be drawn to smaller living. A great example of this is the tiny house trend – and not just on HGTV shows. Young families are choosing smaller homes, not just as ‘starter’ homes, but because they can be customized, renovated, and allow for a more flexible budget. You can add appliances, tricked out electronics, etc. to a smaller home that costs less up front.
The bottom line is a smaller home means spending less, spending less on utilities and maintenance costs, and even spending less to fill your home with stuff. Bigger homes with more rooms make you feel like you have to have furniture, appliances, electronics and every nook filled with things to “complete” it. The beauty of downsizing is not needing all the extras! You get to prioritize what comes with you.
Less Maintenance Means Less Stress
Downsizing means less square footage to clean and maintain. It also can mean less time spent on general upkeep and yard maintenance, as well! Ultimately, downsizing can allow you to regain time spent cleaning and worrying about the state of your home. Many downsizers find they are less stressed (hello, no more nagging your family to help clean!) and have more time to do things they enjoy. You can use money saved to take a vacation, and not have to worry about the added effort of securing a 5-bedroom home while you’re away! You can sleep in on Saturdays and not have to mow the lawn, scrub the floors, and vacuum unnecessary square footage!
Reduced Energy and Environmental Impact
A growing number of Americans don’t see the “need” for more space. Some downsizers are motivated by the energy savings and environmental benefit associated with smaller homes. You can still have a home that suits your needs and fits your family comfortably, without the added cost of unnecessarily heating and cooling unused rooms. Families in smaller homes will generally find that their energy bills are lower during the extreme warm and cool months. Utility costs for water and gas are typically lowered as well. Using less resources will save you money, and help the environment!