Should you downsize? Should you not downsize? If you're currently asking yourself these questions, this post by Land Title in Roseville will help you decide by sharing the pros and cons of reducing your property.
The size of the property you live in definitely impacts your lifestyle, comfort level, and even your stress and personal economy. For this reason, it's crucial that you think long and hard about how big you want your place to be.
To some people, downsizing and going for a smaller place can be a step back. However, it can have quite a few benefits. If you're currently trying to decide if downsizing is the right move for you, you're in luck. This post will share the pros and cons of downsizing your property.
Are you thinking about investing in a small property? If you are, call Land Title in Roseville at 651-638-1900 to learn more about the title services they offer and how they can help you have a safer closing process.
Should You Invest in a Small Property?
Why You Should Downsize
As stated above, some people consider downsizing a negative thing. However, it can make your life much easier in a few areas. If you're interested in knowing why you should opt for fewer square footage, read on.
Maintenance Will Be Easier
One of the biggest pros about having a smaller property is that you won't have to spend as much time and money to maintain it. When you don't have a pool, you don't have to take care of it and service it every few months.
You'll Declutter
If you're moving from a bigger place, you may need to declutter once you move (lest you fill your space to the brim). Decluttering can help fill your new property with only the things you love, want, or need.
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It Will Be Less Costly
Often, smaller properties have a lower asking price, meaning you won't have to spend as much to get it. Likewise, as stated, maintaining a bigger house can be a challenge, and it can also be more expensive.
It's Greener
A more spacious property needs more lights, electricity, plumbing, AC power, and more. This means it will need more energy to continue running as expected. Because of this, tighter quarters are greener.
It's A Lot Cozier
Smaller properties are often considered cozier. The reduced space can seem warmer and more familiar. This can also help strengthen the bonds between the inhabitants of the house.
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Why You Shouldn't Downsize
Downsizing can be an excellent decision for some. However, it may not be the best option for others. To make sure you will make the right choice, here are some cons of downsizing that could be deal breakers for you.
Getting a Loan May Be Harder
If you need financial help to get the property, you may have a harder time getting a loan for smaller, cheaper estates. This is because the more financially accessible get them as much return on investment.
There Aren't Extra Rooms
Do you need a room for a studio? Would you like to have a TV room? If you would like extra rooms to suit all your needs and preferences, a smaller estate may not be able to give them to you.
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Less Storage
Having storage can be significant. For example, you need to put away winter clothes when it's not cold out or holiday decorations once the season is over. Still, many smaller places forgo storage space.
You May Feel Claustrophobic
As stated above, tighter quarters can bring families together. However, it can also have the opposite effect and result in more fights. For some people, the closer proximity may make their claustrophobia flare up.
It Won't Adapt as Easily
Lastly, if your lifestyle or goals change in the next couple of years, adapting your smaller place to your new needs will be difficult. Your property won't have the chance to grow with you as you grow.
Whether you're opting for a bigger or smaller property, having the right title services will allow you to have successful real estate ventures. Call Land Title in Roseville at 651-638-1900 to learn more about how they can assist you.
