In this sponsored post, VINCENT MANENO, of Fast Courier Australia, looks at the advantages (and drawbacks) of downsizing. 

ARE you considering downsizing your living space? If so, you’re far from alone. Downsizing is typically associated with older adults whose children have moved out and who no longer need a large, two-storey house with three or four bedrooms.

Hence, that house is sold, and a smaller, cheaper property is purchased with the proceeds. The result? A bigger savings account, less maintenance and upkeep, and a more relaxed lifestyle.

But the idea of downsizing has also caught on among the younger generations. For them, downsizing is part and parcel of adopting a minimalist lifestyle. The point of minimalism is to make do with fewer material possessions.

A number of benefits follow naturally from this, including a lower cost of living, a reduced carbon footprint, less needless consumption and a greater appreciation for the simple pleasures in life.

So, whether you’re selling the old family home or just taking a smaller apartment, downsizing has its advantages.

It also has drawbacks, which I’ll touch upon in this article and also offer a few tips and discuss some general considerations.

Advantages of downsizing

We’ve already briefly covered the main advantages of downsizing your home. Now let’s take a closer look.

Savings

By downsizing, you can save a lot of money. In the case of a house, your mortgage payments will naturally be smaller – potentially by a wide margin.

Meanwhile, apartment dwellers will save big on rent. The security deposit will be smaller, too.

On top of that, a smaller place means smaller utility bills. Your new living quarters will require less energy to heat and cool.

The reduced living expenses result in less financial anxiety and give you the freedom to spend your money on things that really matter to you.

More free time

The upkeep of a large house or apartment can be overwhelming. Doing it yourself is time-consuming and, at times, physically exhausting. Hiring a professional cleaning service is expensive.

When you downsize your house or apartment, upkeep is considerably reduced. This saves you time, which you can dedicate to activities you find valuable and personally rewarding.

Smaller carbon footprint

As noted above, it requires less energy to heat and cool a small residence than a large one. This saves money, of course, but it has the added benefit of shrinking your carbon footprint. Consistently using less energy helps protect our fragile environment.

Drawbacks of downsizing

Everything in life has its pros and cons. When it comes to downsizing your home, keep the following things in mind.

Parting with possessions

This can be viewed as a pro or a con, depending on one’s perspective and circumstances. The fact is that downsizing requires you to part with a certain amount of your belongings. It can be difficult to make decisions about what to keep and what to dispense with.

On that note, you may want to avail yourself of self-storage. You can also ask a friend or family member to hold on to a few items for you. If you’re unable to transport your belongings on your own, utilise a cheap courier service.

Less privacy

Assuming you live with at least one other person, downsizing will necessarily result in less privacy. This can be hard for some people to adapt to. You’ll have fewer rooms that are both smaller and closer together. If you’re accustomed to having a large space all to yourself, prepare to make a considerable adjustment to your routine.

Tips and other considerations

Downsizing is certainly a big job in itself, and it can be hard to know where to begin. In this section we offer some tips to help get you off on the right foot.

Begin ASAP

As with any other major undertaking, it’s best not to procrastinate when you begin the downsizing process. Organisation is key. You’ll want to give yourself plenty of time – several months, ideally – to comb through your possessions and decide what you’d like to keep and what you can do without. Be methodical: start with one section of your home, and don’t move on to another until you’re finished with it.

Decide what to do with discarded items

Make a list of your belongings, and divide them into categories.

Things you plan to keep

This one speaks for itself. Everyone has things they’d rather not live without. Compile a list of items you are going to keep, and gradually move them into one area of your home.

Things you’d like to store

If you can’t decide whether to keep or get rid of something, you should probably store it. Don’t be overzealous. The last thing you want to do is throw something away and sorely regret it later. Storage is the best option. A courier service can help you transport your items. There are various online tools that enable you to compare courier quotes to ensure you’re getting the best deal. Take advantage of them.

Trash

Even if you’re not a bonafide hoarder, you’re going to be surprised by the amount of junk that has accumulated in various parts of your home. Basements, garages, attics and bedroom closets tend to be the main culprits. Here you should be ruthless: anything old and useless has to go.

Things you intend to donate

When sorting through your possessions, bear in mind that you can do a lot of good by donating things you no longer have any need for. Clothes, shoes, books, appliances, furniture, linens, cushions… the list is endless. If something is still in decent shape, but you don’t want it, donate it to a charity.

Prepare your house for sale

Assuming you have a house to sell, you’ll obviously want to get everything organised sooner rather than later. Consult a real estate agent to help you figure out what your current home is worth and how much you can expect to spend on a smaller one. Determining your equity will help you make smart, informed decisions.

Before putting your house up for sale, ensure that you have cleared it out as much as possible so that potential buyers have a clear view of the available space. Of course, you’ll need to give it a thorough cleaning as well – inside and out. It’s a big job, but if you do it the right way and don’t cut any corners, you’ll stand a much better chance of selling at a good price.