I was talking with friends on the phone about getting exhausted of having to vacuum the home. "It just seems like there is too much square footage in the house and it gets dirty too fast," I stated. One of my friends replied, "Exactly, that is why we are downsizing." I wanted to know more Lahore smart city. "We are going to sell our house and buy a smaller house. We will use the extra money for retirement, and give a lot of things away, and live simply."

It sounded interesting and I decided to do some study. The Wall Street Journal reports that people choose to relocate to smaller homes for these reasons

The cost of owning a home. In theory, a large home will cost more in utility bills, maintenance as well as insurance and taxes. Many people think that moving to smaller homes will reduce the costs significantly.

Cleaning and maintenance costs. Multiple zones of furnaces and air conditioning landscaping, as well as interior and exterior cleaning costs are high when you have an enormous home.

Simpler living , with less possessions to think about. At certain points in our lives, we could change from an "bigger is better" to "simpler is cheaper and more satisfying" mindset. There's something satisfying about eating less, having less, and stressing about less things.

It's "the right thing to do." As we reach our 50's, 60's and 70's, we are more likely to give more to those who need more than we do. We are also more energy- and eco-conscious.

It sounds beautiful, romantic, and practical. There's just one issue. Around 70% of people who made the decision to reduce their size admitted that it didn't go as they hoped it would. What they didn't think they would:

The savings in financial terms was minimal to none, and some of the respondents claimed that they spent much more than they anticipated for moving and making the home prepared. They spent the same amount on TV services and telephones, as well as trash collection and so on.

Cleaning and maintenance was about the same amount of money that they had to pay for the house they moved from. If you are moving to a tiny home (800 SF or less) the costs will only decrease by a small amount. A few of the respondents stated that they reduced their size by shifting from a 2,300 square foot house to one of 1,900 square feet.

They claimed that squeezed into a smaller space and finding new owners for the prized items that had been acquired over time physically and emotionally difficult.

They were missing the house they had left and felt the new house did not have enough living space as well as storage space. While the idea that they were "downsizing" was noble, in reality , it was an emotional and financial loss. In the majority of these instances those who made the decision to sell their larger home and relocate to smaller ones did not have adequate planning or conducted adequate research.

Based on these findings Do you need to downsize? Yes, provided you are doing it for the proper reasons and you both comprehend and anticipate the possible issues that could arise during the process.

Lisa is an engineer in the aerospace industry and a building contractor living in Hayesville, North Carolina. Prior to her position as an engineer, Lisa inspected homes for buyers, sellers, and homeowners.