Your rental home should match your lifestyle and meet your needs as a renter. If your situation has changed, you might be thinking about downsizing to a smaller rental home. A larger home with extra bedrooms may appeal to some, but it also means more effort to keep it clean and well-maintained.
As the 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. These homes are also more expensive to maintain and have increased utility costs. This is a major reason why people consider downsizing—to cut costs. If your financial situation has altered, downsizing your rental home could be a wise option.
Even if you can comfortably afford a larger home, think about what else you could spend that money on—such as a hobby, traveling, or investing. 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 downsizing is on your mind, it’s important to review your personal items and determine what to do with them. If you have plenty of furniture, heirlooms, or other items, they may not work in a smaller rental.
You could store your belongings in a unit, but the rental fees may become costly over time. Check if the storage unit is climate-controlled, as exposure to heat, cold, and dust can take a toll on your prized possessions. If you’re able, downsize your belongings before moving to a smaller rental home.
Spending less time cleaning
Comfortably navigating your rental home is an essential factor in choosing the right one. If your rental has stairs or other barriers to easy access, consider moving to a one-story rental home.
Smaller homes require less effort to clean and maintain, making them a great option for those who prefer to spend their time on other pursuits.
Living closer to specific amenities
If you’ve been wanting to move closer to the local nightlife, a cultural district, or nearby amenities, downsizing might be worth considering.
Rental homes near prime amenities are typically more expensive, but downsizing could help you find an affordable option near the places you love.
Is downsizing the right choice for you?
You could be considering downsizing because your life, and possibly your priorities, have changed. If the kids are grown and out of the house, and retirement is approaching, you may have big plans to spend your free time outside of home. Downsizing to a smaller home could be the answer, offering you the freedom and flexibility to pursue all the things you’ve been dreaming about and more.
If you’re ready to find a new rental home in Ocala or nearby, Real Property Management Diversified is here to help you. Our rental homes are designed to accommodate a variety of 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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