So You Want To Downsize, What Do You Need To Consider

Finalizing your decision to downsize is a big step. To help make the decision, here are some pros and cons to consider.


  • Have more time for leisure and other interests: A smaller home means fewer rooms and square footage to clean and maintain.
  • More disposable income:You will have more disposable income because:
    • A smaller mortgage or no mortgage at all leaves you with extra money each month for other needs or wants.
    • With a smaller home, storage is at a minimum therefore less money will be spent on consumer products such as furniture, clothing, etc.
    • The cost to heat or cool a smaller home is less.
  • Minimizing stress: Having a smaller home means a smaller workload, fewer household demands and more flexibility for leisure time.


  • Less space: Some rooms or areas may need to do double duty. Space maybe cramped so there will be a need for more discipline and organization.
  • Not a lot of room for guests: Having a smaller house means that you need to possibly rethink how you host or accommodate overnight guests.
  • Fewer belongings: Downsizing means that you will need to downsize the amount of furniture, supplies, books and tools – just to name a few things. It’s tough to sort through and sell, give away or throw out all the items that have been collected over the years and stored in a big home.


Buy or Sell First?

Rule of thumb: it’s often better to sell your current home before buying the downsized or smaller home. This will help keep the stress of the process to a minimum. But, some markets will dictate that it's better to buy before you sell. Discuss this strategy with your real estate agent.

There are no comments

Thank you! Your comment has been submitted and is awaiting approval.

Blog Archives