As a renter, your home needs to fit your lifestyle and personal requirements. Should your circumstances have recently changed, you may be wondering if downsizing to a smaller rental is a good idea. Extra bedrooms and larger spaces might be perfect for some, but they also require more work to maintain and keep tidy.
As the well-known saying goes, “More isn’t always better.” Sometimes it’s just unnecessary.” Before making a decision about downsizing your rental, let’s review a few things.
When downsizing makes financial sense
Larger rental homes typically come with higher costs in most places. They tend to require more upkeep and have greater utility bills. This is one of the main reasons people begin thinking about downsizing to save money. If your financial situation has shifted, downsizing your rental home might be a good choice.
Even if a bigger home is within your budget, think about what else you could use that extra money for, like a new hobby, travel, or investments. This new way of thinking can help you make a decision that’s not only about space but also about what’s best for your finances.
Reducing clutter and simplifying your living space
If you’re thinking about downsizing, take stock of your personal belongings and decide what to do with them. If you own a lot of furniture, heirlooms, or collectibles, they may not fit in a smaller space.
You could opt to rent a storage unit, though monthly fees can add up over time. Check if the storage unit is climate-controlled, as exposure to heat, cold, and dust can take a toll on your prized possessions. If you’re able, downsize your belongings before moving to a smaller rental home.
Spending less time cleaning
Easy movement within your rental home is crucial to finding the right fit. If stairs or difficult access are a problem in your current rental, think about moving to a single-story rental.
Smaller homes require less effort to clean and maintain, making them a great option for those who prefer to spend their time on other pursuits.
Living closer to specific amenities
If you’ve been thinking about moving closer to cultural centers, nightlife, or amenities, that may be a good reason to downsize.
Homes near high-end amenities are usually more costly, but by downsizing, you might find something affordable that keeps you close to the places and events you enjoy.
Is downsizing the right choice for you?
You could be considering downsizing because your life, and possibly your priorities, have changed. If the kids are out of the house and retirement is near, you may be thinking of spending your free time somewhere other than at home. Downsizing to a smaller rental could be the gateway to these possibilities, providing you with the freedom and flexibility to do everything you’ve dreamed of and more.
If you’re looking for a new rental home in Folsom or nearby, Real Property Management Folsom Lake is here to help. We provide rental homes that fit a range of life stages and personal lifestyles. Let us help you discover the perfect home! Browse our available listings today and start your downsizing journey!
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
