Finding the perfect place to live does involve a little forethought. Maybe you have been a renter in the past, and you have also been a homeowner; whether it is for a change of job or just a desire to downsize, there are several reasons why apartment living can make sense later on in life. In fact, there are several reasons why you should downsize to live in an apartment. Thus, to assist you, here is a list of the most common reasons people make the right choice and downsize to a smaller living space.
You Need To Reduce Living Costs
One of the number one reasons to downsize to an apartment is because you need to reduce your living costs. There is no denying that things are just getting more and more expensive, especially when it comes to housing, food and healthcare. Therefore, if your mortgage has become too much, or maybe you want to save up for something else, like going back to school, then reducing your living costs by downsizing just makes sense.
Another reason, or at least benefit, of downsizing is that you no longer have to spend all your free time cleaning multiple levels and rooms. Moreover, when you live in an apartment, anything that needs to be maintained or repaired is no longer your responsibility. When you have a house, the upkeep seems never-ending. So, if you are looking for a break from it all, then why not downsize to an apartment?
Use Fewer Natural Resources
With climate change and people finally being focused on what they can do to reduce their carbon footprint, downsizing to an apartment is actually a great way to ensure that you use fewer resources and, in effect, help save the planet.
You Have Debts That Need To Be Paid
Since downsizing to an apartment reduces living costs and requires less upkeep, you may notice that you have a little extra money lying around. Consequently, your financial situation can improve drastically if you downsize from a house to an apartment. By making this change, paying off debts becomes a lot easier, and if you would like to get your credit score in a decent place, then deciding to relocate to an apartment can help you do that.
You Are Moving From The Suburbs To The City
What’s more, if you need to move into the city, maybe for work and whatnot, there will not be a lot of affordable homes for rent or to purchase. Moreover, houses are often difficult to find in major cities, and space is much more expensive than it is in the suburbs. As a result, downsizing to live in an apartment is the most cost-effective option available to you. Plus, when living in the city, having everything at your fingertips is actually worth the price of losing a little additional living space.
Meet New People
Furthermore, by opting for apartment living, you are likely to meet new people and try new things. Thus, if you would like to make new friends, or even find your significant other, then moving into an apartment will increase the odds that you do make new friends, and possibly romantic relationships.
Apartment Living Often Leads To A Happier Home and Household
Speaking of relationships, most former homeowners agree that apartment living has enabled their family to bond and work together better. Ultimately, when you live with other people in a smaller space, you create an environment where family members and roommates get organized and can compromise over living arrangements, share closets and make your shared new space feel cozy instead of cramped. Thus, in many ways downsizing from a house to an apartment equals a happier home and a more enjoyable living experience.
You Do Not Need The Extra Space
You can also choose to downsize from a house to an apartment if you recently went through a major life change, such as sending the last kid off to college. Often, empty nesters look around their big house and feel that it is now empty with all the kids gone. Therefore, the likely conclusion is to downsize. Apartment living can also provide you with more freedom to travel because you do not have to worry about the upkeep of a house, and most people do not need an apartment sitter due to the nature of multifamily housing. Plus, there is less to clean, which means you will likely have more free time on your hands as well.
Avoid Unnecessary Purchases
In addition to saving money in general, downsizing to an apartment can help you avoid unnecessary purchases. The reality of apartment living is you do not have a ton of space. Thus, you need to decorate and fill your living space with purpose. You are a lot less likely to buy extra furniture or chairs just to fill up space with an apartment, which may be what your resolve needed all along.
Pass Down Family Heirlooms
When you downsize your home, you also inevitably downsize your belongings. Here, if you stumble across family heirlooms in the midst of your decluttering/moving process, then you can gift these items to younger generations. You get to see the appreciation of your granddaughter when she gets your antique china cabinet, for example.
Remember Less Is More
With a home, you tend to accumulate quite a bit of stuff over the years. However, when you choose to downsize, the opportunity presents itself for you to become more organized and essentially efficient by only having what you need. This also allows you to have a garage sale and make a little extra cash on the side.
Alternatively, if downsizing to an apartment will only be temporary, then you can get yourself a storage unit for the bigger items. Nevertheless, the end result is the same – you will likely only take what you need with you to your new apartment home. Note, after downsizing you will ultimately have less clutter, but you will still have some items worth protecting. So, make sure you check to see what renters insurance covers to ensure that the belongings you are keeping will be protected.
A Fresh Start or New Chapter
Switching to an apartment often gives people a new outlook on life as well. This is especially true if it is your first time experiencing apartment living. Typically, downsizing feels like a new beginning — one in which you are no longer burdened with high property tax payments, and larger mortgage or rent payments. It can feel liberating to start a new life chapter, and it may motivate you to make other freeing decisions.
Reduce Your Monthly Bills
Last but not least, if you are able to find a good deal, then an apartment usually offers lower monthly utilities than a home. Plus, you will use less electricity, heat and water in an apartment, and some monthly bills may be eliminated altogether. Here, the great thing is that most apartment homes come with a portion of your utility costs included in the overall rent rate; thus, you no longer need to worry about a water or gas bill.
At the end of the day, these are just a few reasons why you should consider downsizing from a house to an apartment. That said, how many more reasons do you need to embrace apartment living? So, what are you waiting for? Get the ball rolling on your next apartment home, if you have not already.