With traffic on the rise, business becoming ever-more competitive and global and time fast becoming a scarce resource, many property owners are thinking about scaling down.
For older buyers, it may be an easy decision, but the rise in urbanisation and desire for a better quality of life has meant a shift in the way people think about where and how they live. For many, the option of a big house with a big yard is becoming cumbersome. For others, it is the desire for more lifestyle benefits that is prompting the decision to downscale to something smaller and more compact.
These buyers are fast finding out that there are many upsides to downsizing. Here’s just some of what you can look forward to:
Convenience – commuting for work has become one of the biggest time guzzlers and is a source of great stress for many. By downscaling, you could for example move closer to your place of work which would save on travelling time and the frustration of wasting valuable time in traffic.
Lifestyle – by going smaller, you might gain the advantage of living in an area that offers fabulous lifestyle amenities, a street café culture, beach or waterside setting or a great outdoor lifestyle, thus gaining considerably on quality of life.
More savings – buying smaller could end up saving you on your bond or if you sold an existing property, might even be able to buy for cash. In the long run, a smaller property is likely to also save you money on utility and other costs associated with a big home and yard.
Maintenance – smaller properties tend to require less maintenance, especially if you move into a sectional title complex or estate. Generally, you only really need to be concerned with the interior as the exterior and grounds would be managed by the Body Corporate and/or Managing Agents.
More time, less stress – downsizing your property, means upsizing your lifestyle. With less stress and more time on your hands, you can finally take up that hobby or leisure pursuit that you might have been putting off. Or, with more money available, you can finally travel and enjoy more life experiences.