Finances
In most places, larger rental homes cost more. These are also typically more expensive to maintain and usually have higher utility bills. To save money is probably the most common reason people start considering downsizing. If your financial situation has changed, it may be best to downsize your rental home. Even if you can afford a large rental, you might want to spend that extra money on a new hobby, travel, or investment.
Personal Belongings
For those who are thinking of downsizing, it is important to first consider how many personal belongings you have and what you plan to do with them. All your furniture, heirlooms, collectibles, or other items might not fit in a smaller rental. Placing these things in a storage unit would mean you will incur monthly rental fees that could add up quickly. Consider whether or not the storage unit is climate-controlled because heat, cold, and dust can all wreak havoc on your prized possessions. It is a good idea to start by downsizing your belongings first before moving to a smaller rental home.
Accessibility
Being able to move comfortably within your rental home is an important aspect of finding the right fit. Downsizing to a single-story rental home is a good option for those whose current rental has stairs or features that make access difficult. Also, smaller homes mean easier cleaning and maintenance and less time spent on household tasks.
Amenities
The desire to live nearer to cultural centers, the local nightlife, or other amenities can also be a reason to think about downsizing. Rental homes near these amenities are usually more expensive but if you downsize, you might be able to find something within your budget.
Plans for the Future
Maybe you are thinking about downsizing because of a change in priorities. Maybe your kids are now grown and gone, and you are about to retire and plan to spend your new free time someplace else rather than at home. This might be the right time to downsize to a smaller rental, giving yourself more freedom to do the things you have always wanted to do.
Eventually, you are the only person who can determine if it is really time to downsize your rental. But if you’re ready, go ahead and give Real Property Management Gold a call. We have rental homes designed to support a wide range of life stages and lifestyles. We’d love to help you find the rental home that is perfect for you! You can view our listings online.