12 Reasons to Downsize Your Family Home

253 Flares Twitter 65 Facebook 64 Pin It Share 102 Google+ 22 Email -- Filament.io 253 Flares ×

Downsizing out of necessity has become a frequent theme in the recent economy.  Foreclosures and increased loan requirements have made that decision for many families.

But what if downsizing is actually a gift to your family?

12 Reasons to Downsize Your Family Home - Kids Activities Blog

Downsizing – no matter the reason – has its advantages!

That is why we are tackling it as part of our money series here on Kids Activities Blog. Creating family memories on a budget is inspired and sponsored by Dave Ramsey’s Endorsed Local Providers (ELP) program which can help you find trustworthy and competent investment advisors, realtors, insurance agents or tax services in your hometown.  You can sit down and create a custom financial plan with someone you are comfortable with and that your neighbors would recommend making it easier for you to set aside money for what is important to your family.

Reasons to Downsize Your Home

  1. Lower Mortgage – This is the obvious reason to downsize.  Decreasing the mortgage burden or putting yourself in a position to pay it off early can change your financial future.
  2. Lower Maintenance/Repair Bills – A rule of thumb for estimating home maintenance and repair costs is $1 per square foot per year {averaged over time}.  Decreasing your square footage, can decrease the number of things that can go wrong and need fixing.
  3. Less Housework – If there is less house, there is less to clean!  This translates into more time to do fun things with your kids and family.
  4. Less Yardwork – If there is less yard, there is less to mow, weed, trim and sweep!
  5. Lower Utility Bills – With less square footage comes less to heat and cool.  A bonus is that many of the newer homes or recently renovated ones will have better energy ratings as well.  There could be more savings there than expected.
  6. Less to Insure – Home owners insurance costs will be less, but your insurance needs have likely changed anyway!  Having an independent insurance agent check your current policies today can save you money no matter your home size.  Find your ELP today.
  7. Collect Less – The more space you have, the more you expand.  Take a look in a closet that you haven’t opened for awhile to test this theory.  You may be horrified to see how its contents have grown!
  8. Less Stuff to Manage – Owning a larger home is a full time job in itself.  Freeing up time to enjoy your home instead of manage it will feel like a vacation.
  9. Family Togetherness – In a smaller space there will be more interaction which can help keep family members close in all senses of the word!
  10. Less to Buy – In a downsized home there are fewer needs.  Even decorating is easier because less is necessary.
  11. Better Resale Value – The more “average” size your home, the larger market there is for its resale.  Larger homes often require a specific buyer which means less competition for your home sale.
  12. You Don’t Need It – Owning a larger home can be a burden in more ways than financial.  Finding that you spending the majority of your time managing your “stuff” instead of enjoying it can be eye-opening.

No matter what your reason is for downsizing, you need to work with a real estate professional to make sure you accomplish your goal. Dave’s real estate Endorsed Local Providers (ELPs) will help you get your home sold and find a new one that fits your situation.

Get in touch with your real estate ELP today!

Thanks so much to the Endorsed Local Providers for sponsoring Kids Activities Blog and inspiring this series on creating family memories on a budget.

Do YOU think there is a benefit to downsizing?

Holly About Holly

Kids Activities Blog is Holly's blogging home.

She is the mom of three boys ages 7, 10 and 12 who partially homeschools. She believes that you shouldn't have to buy stuff to have fun when there is a kitchen junk drawer full of possibilities.

She can also be found at Business 2 Blogger, on Twitter as @QuirkyMommaSite or @Texasholly, but her favorite place to hang out is on Google +.

From our partners:

Comments

  1. I’m working on Collecting Less AND purging “stuff” that we’ve had taking up space for years!

    • Me too…it is funny because I used to move regularly. Now I find that moving MAKES you do that because we have been in the same house for 8 years and there is STUFF {junk} everywhere.

  2. I am trying to downsize my stuff at this point. A lot of people follow the Spring Cleaning rule but I follow the Pre-Christmas Cleaning rule. I need to get rid of so much stuff before I collect more during the holidays!!

  3. I would LOVE to downsize. I didn’t realize when we moved into our big house how BIG the utility bills would be!

  4. I don’t think I should downsize since we’re living in a townhouse that’s 1500 sq feet, however, I do need to stop buying and collecting so much stuff! LOL

  5. I already have a small home and I like it. I agree that larger homes are just more work!

  6. I think there is a benefit but having 8 in the family makes it a little bit hard:) But we are living in a small house anyways.

  7. Ive been trying to get rid of our clutter of late. We even had a storage unit we downsized to save money and get rid of things, i so agrere. Thanks for some of the other thought on this.

  8. Downsizing has a lot of benefits. If you downsize to a smaller home, there’s less you have to clean, and easier to stay organized. Also if you downsize, it makes less work for your family when you pass away.

  9. I believe there are huge benefits to downsizing for certain families. In the case of my own we need more room badly. I have no safe haven away from screaming kids since we are a family of 5 living in around 600sq ft of space. I also dream of having more than one bathroom someday. Waiting for someone to get out of the bathroom when you’re doing the potty dance outside the door isn’t my idea of a good time.

    boylaneely at hotmail dot com

  10. I would love to downsize our home. I would also like to have all of the bedrooms on one level, instead of 2. But we are stuck here for now.

  11. Downsizing definitely has its advantages, but our family is growing, so that’s not the best option for us right now.

  12. Downsizing definitely has it’s advantages! I love the idea of less stuff cluttering up my mind!!

  13. I’ve been reducing my carbon foot print by making my own detergent, using toilet paper rolls and lint for firestarters, and steam clean my floors instead of using harsh chemicals. So I’m buying less to keep down what I don’t need.

  14. def good to down size it keep you sane. clutter drives yo crazy

  15. I’m working on doing just this, but it is a HUGE task, very daunting. :P

  16. I’m always downsizing by getting ridn of clutter and getting rid of things i no longer use or need anymore.

  17. my elderly mother-in-law needs to downsize to have less to care for, less to worry about

  18. YES! We will definitely downsize when we are able too! :) Right now we have 5 at home but when they start leaving the nest we will downsize! :)

  19. Definitely. We knew when we bought our home that we didn’t want more space than we needed. We use Dave Ramsey’s ELPs for investing and insurance so we know they give great advice.

  20. it’s a great idea to cut costs and put the money saved up for retirement

  21. This is a wonderful post, I took care of my 3 chi

  22. hings I already have to make other things
    y to use

  23. Downsizing makes alot of sense we

  24. I really like this post. It makes me feel good about our little home! with 4 kids and an already small home!

  25. I think downsizing could benefit anymore. Less to buy, and less to spend on the home.

  26. Any money saving tips are worth doing inlcuding downsizin

  27. John Joseph says:

    downsizing make life much easier even if your money can afford more less maintance

  28. This is very helpful info!

  29. We are renting right now but I wouldn’t mind downsizing I have gas heat downstairs and electric upstairs and in the winter the are about $200 each! Can’t really afford that. I live in a small town and there were not many options here! I agree there are many benefits to downsizing!

  30. This is something I struggle with. I keep feeling like I need to upsize, but reality is, if I went through a lot of our ‘stuff’ we could probably fit in what we have much better without upsizing.

  31. I think some families can thrive in a smaller home. When kids get older a yard isn’t as necessary for them, they have sports, etc to keep themselves busy.

  32. Vanessa Wille says:

    I agree. There is so much more I’d like to spend my money on, like traveling!

  33. I agree totally, but we are in an old family home and though it is a burden to keep it up, it’s been a blessing too as we’ve been able to open our home to others. Our home is just a ranch but it’s had so many crazy additions over the years that it’s hard to heat and cool and so much work to keep clean.

  34. Alicia Som says:

    Down sizing is a great concept. We don’t NEED so much stuff

  35. I am getting rid of old things that we do not need to make more room for us.

  36. We did this 9 years ago! I’ve been at home since.

Speak Your Mind

*

253 Flares Twitter 65 Facebook 64 Pin It Share 102 Google+ 22 Email -- Filament.io 253 Flares ×