According to recent research commissioned by Trade Me Property, down-sizers represent some of the most motivated home buyers right now. In fact very few purchasers are in the market to upsize, this is most probably due to high interest rates, stagnant salaries, increasing household expenses, and an aging population.
So, Who’s More Likely To Downscale Their Dwelling?
Retirees wanting a home to more closely suit their needs, empty nesters who no longer require the extra room, families wanting to reduce household overheads, and people wanting to reduce or pay off their mortgages faster are just some of the common circumstances our clients present to us.
The Potential Benefits of Downsizing Your Home
- Financial pros: Moving into a smaller home can free up equity that can be used to invest, pay off debt, or supplement retirement income.
- Building new on a pocket-sized section could save you a fortune in future energy bills, maintenance and landscaping costs.
- With site sizes decreasing, more home builders now have a wider range of house plans for you to choose from.
- Downsizing typically sees you incur lower mortgage payments, insurance and rates costs.
- More free time: With less space to clean and maintain, you’ll have more time to pursue your hobbies and interests and spend time with family and friends.
- Increased mobility: Smaller homes are easier to move out of, making it a breeze to relocate for a new job, or into a retirement home later on.
- Environmental benefits: Downsizing will see you use less energy and resources, which is better for the environment.
- Improved quality of life: Many people find that relocating into a pint sized home leads to a simpler, more enjoyable, decluttered lifestyle.
Whatever your reason for minimising your living arrangements, less housework and more fiscal freedom sounds like a serious option to consider in today’s modern world. Looking for smaller home plans? Get in touch with our team to see what your best option is.