Your rental home should match your lifestyle and meet your needs as a renter. If things have changed in your life, you may be questioning whether downsizing to a smaller rental property makes sense. While extra space and additional bedrooms may suit some, they also come with the burden of increased cleaning and maintenance.
As the old saying goes, “More isn’t always better.” Sometimes it’s just excess.” Before you decide if it’s time to downsize your rental, let’s evaluate a few aspects.
When downsizing makes financial sense
In most areas, bigger rental homes are more expensive. They’re more costly to maintain and have higher utility expenses. This is why many people begin to think about downsizing—to lower their costs. Downsizing your rental home might be a smart move if your financial situation has changed.
Even if a bigger home is affordable for you, think about other ways you could use that money, such as on hobbies, travel, or investments. Changing your perspective like this can help you make a choice that’s not just about space but also about your financial health.
Reducing clutter and simplifying your living space
If you’re thinking of downsizing, consider your possessions and what you intend to do with them. A large amount of furniture, heirlooms, or collectibles might not fit well in a downsized rental.
Paying for a storage unit is an option, though the monthly costs could build up quickly. Think about whether the storage unit is climate-controlled, as extreme heat, cold, and dust can damage your valuables. If possible, try reducing your belongings before moving into a smaller rental.
Spending less time cleaning
Being able to move comfortably around your rental home is key to finding the right fit. If your current rental has stairs or other access challenges, downsizing to a one-story home might be worth considering.
Smaller homes are easier to clean and maintain, offering benefits for those wanting to spend less time on chores and more time on other pursuits.
Living closer to specific amenities
If you’ve been dreaming of moving closer to cultural hubs, nightlife, or key amenities, it might be time to consider downsizing.
Rentals near top amenities often come with higher costs, but downsizing might help you afford a home that’s still near the places and events you love.
Is downsizing the right choice for you?
You might be thinking about downsizing because your life has changed, and so have your priorities. If the kids are grown and out of the house, and retirement is approaching, you may have big plans to spend your free time outside of home. Moving to a smaller rental could unlock these possibilities, giving you the freedom and flexibility to live out your dreams and more.
If you’re ready to search for a new rental home in Kimberly or the surrounding area, Real Property Management Lakeshore is here to assist you. Our rental homes are designed to accommodate a variety of life stages and lifestyles. Allow us to guide you in finding your perfect home! Browse our available listings today and start your downsizing journey!
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
