Home Downsizing 101


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Is It Worth It?
You'll likely save money if you downsize, but ultimately, the choice comes down to what type of life you want to lead.
You'll likely save money if you downsize, but ultimately, the choice comes down to what type of life you want to lead.
©iStockphoto.com/fazon1

Is it time to downsize? Will a smaller space work for you? Can cutting your square footage in half have a positive effect on your lifestyle? Your carbon footprint? Your bank account?

In most cases, the answer to the latter one is yes. Sizing down will almost always mean saving money on housing expenses. Whether you reduce your environmental impact depends a lot on whether you'll be driving more or less at your new digs, but in terms of electricity use, less square footage will almost always mean less power.

Lifestyle is perhaps the biggest wild card in the equation, and depends entirely on your personal wants, needs and any changes you hope to institute. Certainly, downsizing from the suburbs to the city, a common move, can have a profound impact on how you live. Whether that's a good thing or a bad thing is entirely up to you.

For more information on downsizing, real estate and related topics, look over the links below.

Related Articles

More Great Links

Sources

  • A Guide to Home Downsizing. Financial Web.http://www.finweb.com/real-estate/a-guide-to-home-downsizing.html
  • Leech, Eric. "Downsizing Your Home: How Much Space Do You Really Need?" TreeHugger. May 31, 2009.http://www.treehugger.com/files/2009/05/downsizing-your-home-how-much-space-do-you-really-need.php
  • Smith, Lisa. "Downsize Your Home to Downsize Expenses." Forbes: Investopedia.http://www.investopedia.com/articles/pf/07/downsize.asp
  • Williams, Geoff and Annalisa Burgos. "House Match: Downsizing to the Right Fit." HGTV FrontDoor. Oct. 13, 2009.http://www.frontdoor.com/Buy/House-Match-Downsizing-to-the-Right-Fit/55318

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