As a renter, it’s important that your home suits your needs and lifestyle. If things have changed in your life, you may be questioning whether downsizing to a smaller rental property makes sense. A larger home with extra bedrooms may appeal to some, but it also means more effort to keep it clean and well-maintained.
As a popular saying suggests, “More isn’t always better.” Sometimes it’s simply too much.” Before choosing to downsize your rental, let’s think through a few key considerations.
When downsizing makes financial sense
In many locations, bigger rental homes come with a higher price tag. They tend to require more upkeep and have greater utility bills. This is a key reason why many think about downsizing, to reduce expenses. If your financial situation has altered, downsizing your rental home could be a wise option.
Even if you can manage a larger home, consider the other ways you could spend that extra cash—on a hobby, traveling, or investments. This change in mindset can help you make a decision that focuses not only on space but also on your financial stability.
Reducing clutter and simplifying your living space
If downsizing is on your mind, it’s important to review your personal items and determine what to do with them. A large amount of furniture, heirlooms, or collectibles might not fit well in a downsized rental.
Renting a storage unit is an option, but those monthly fees could pile up quickly. Consider if the storage unit offers climate control, as temperature swings and dust could damage your valuable items. Consider downsizing your items before you move to a smaller rental, if possible.
Spending less time cleaning
Easy movement within your rental home is crucial 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.
A smaller home means easier cleaning and maintenance, which is perfect for those who want to spend less time on chores and more on personal activities.
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.
Rental homes near desirable amenities are often more expensive, but downsizing may allow you to find something affordable with easy access to the places 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 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 ready to find a new rental home in Manhattan Beach or nearby, Real Property Management California Coast is here to help you. We offer rental homes that suit different life stages and lifestyles. Allow us to guide you in finding your perfect home! Browse our available listings today and start your downsizing journey!
Originally Published on September 24, 2021
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