As a renter, your home needs to fit your lifestyle and personal requirements. Should your circumstances have recently changed, you may be wondering if downsizing to a smaller rental is a good idea. Extra bedrooms and larger spaces might be perfect for some, but they also require more work to maintain and keep tidy.
As the well-known saying goes, “More isn’t always better.” Sometimes it’s just extra.” Before deciding if downsizing your rental is right, let’s consider a few points.
When downsizing makes financial sense
In many locations, bigger rental homes come with a higher price tag. Maintenance and utility costs are also higher in larger homes. This is why many people begin to think about downsizing—to lower their costs. If your financial situation has altered, downsizing your rental home could be a wise option.
Even if you can comfortably afford a larger home, think about what else you could spend that money on—such as a hobby, traveling, or investing. Shifting your perspective in this way can guide you to a decision that prioritizes both space and financial well-being.
Reducing clutter and simplifying your living space
If you’re planning to downsize, it’s essential to evaluate your belongings and decide how to handle 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. Check if the storage unit is climate-controlled, as exposure to heat, cold, and dust can take a toll on your prized possessions. If you can, downsize your belongings before transitioning to a smaller rental home.
Spending less time cleaning
Easy movement within your rental home is crucial to finding the right fit. If stairs or difficult access are a problem in your current rental, think about moving to a single-story rental.
With less cleaning and maintenance, smaller homes allow you to spend more time on other activities rather than household chores.
Living closer to specific amenities
If you’ve been eager to live nearer to cultural centers, nightlife, or other attractions, this could be reason enough to think about downsizing.
Rental properties near premium amenities tend to be pricier, but downsizing could allow you to afford something closer to the places and activities you enjoy.
Is downsizing the right choice for you?
Perhaps you’re considering downsizing because life has shifted, along with some of your priorities. If your children are grown and gone and retirement is near, you may have plans to enjoy your free time somewhere other than at 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 looking for a new rental home in Cudahy or nearby, Real Property Management Greater Milwaukee is here to help. We provide rental homes that fit a range of life stages and personal lifestyles. Let us help you discover the perfect home! Browse our available listings today and start your downsizing journey!
Originally Published on September 24, 2021
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.
