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Thinking About Downsizing? Here’s What Renters Should Consider

 

A wooden house adorned with various question marks, symbolizing curiosity about a rental home.
As a renter, it’s important that your home suits your needs and lifestyle. If your situation has changed, you might be thinking about downsizing to a smaller rental home. Having extra bedrooms and a lot of space can be ideal for some, but it also means more cleaning and maintenance.

As the well-known 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

Bigger rental homes usually cost more in most places. They tend to require more upkeep and have greater utility bills. 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. 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 thinking of downsizing, consider your possessions and what you intend to do with them. If you own a lot of furniture or collectibles, they may not fit in a smaller rental home.

Paying for a storage unit is an option, though the monthly costs could build up quickly. Consider if the storage unit offers climate control, as temperature swings and dust could damage your valuable items. If possible, try reducing your belongings before moving into a smaller rental.

Spending less time cleaning

Comfortably navigating your rental home is an essential factor in choosing the right one. 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 thinking about moving closer to cultural centers, nightlife, or amenities, that may be a good reason to downsize.

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?

Perhaps you’re considering downsizing because life has shifted, along with some of your priorities. If the kids are out of the house and retirement is near, you may be thinking of spending your free time somewhere other than at home. Moving to a smaller rental could be the key to making these plans a reality, giving you the freedom and flexibility to enjoy everything you’ve been dreaming about.

If you’re looking for a new rental home in San Diego or nearby, Real Property Management Realevate Specialists is here to help. We offer rental homes that suit different life stages and lifestyles. We’d be happy to help you find the perfect home! Browse our available listings today and start your downsizing journey!

 

Originally Published on September 24, 2021

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