Finances
In most places, larger rental homes cost more. Larger homes are also more expensive to maintain and tend to have higher utility bills. This is why many people start thinking about downsizing– to save money. If your financial situation has changed, it may be best to downsize your rental home. Even for those who can afford a large rental, you could still use the extra money on new hobbies, travel, or investing.
Personal Belongings
If you are thinking of downsizing, you have to consider how many personal belongings you have and what you plan to do with them. All your furniture, heirlooms, collectibles, or other items might not fit in a smaller rental. You could place them in a storage unit, but that would mean additional monthly rental fees. Consider whether or not the storage unit is climate controlled because heat, cold, and dust can all wreak havoc on your prized possessions. If possible, try downsizing your belongings first before you move to a smaller rental home.
Accessibility
A big part of finding the right fit is being able to move around your rental home comfortably. Downsizing to a single-story rental home is a good option for those whose current rental has stairs or features that make access difficult. It is also easier to clean and maintain smaller homes. Household tasks take less time to finish so you can spend more time on other activities.
Amenities
If you want to live closer to a cultural center, the local nightlife, or other amenities, that could be a good reason to think about downsizing. Rental homes near top-notch amenities are usually more expensive, but if you downsize, you may be able to find something within your budget that is conveniently near the places and events you love.
Plans for the Future
Maybe you are thinking about downsizing because of a change in priorities. Your kids might have grown and left, and you are thinking about retirement plans or about spending time somewhere other than at home. You might be thinking it is time to downsize to a smaller rental to give yourself more freedom to do those things you’ve been dreaming of doing.
Eventually, you are the only person who can determine if it is really time to downsize your rental. But if you’re ready, go ahead and give Real Property Management South Orlando a call. We have rental homes designed to support a wide range of life stages and lifestyles. We’d love to help you find the rental home that is perfect for you! You can view our listings online.