Bigger isn’t Always Better: When It’s Time to Downsize to an Apartment

Bigger isn’t Always Better: When It’s Time to Downsize to an Apartment

Most Australian homeowners are currently living large in small spaces. With the promising rewards of downsizing, including huge money savings, a lot of people are going for small homes, such as new apartments in Brisbane.

If you’re thinking about moving to a smaller space but not sure if it’s the right choice, well, these signs definitely tell it’s time to downsize to an apartment:

1. You have spare rooms in your house

Unused spaces at home are a waste. You spend time and money on cleaning and maintaining a room that you never use. You have to re-think if you really need that much space.

For older couples whose kids have gone to college or got married, the decision to downsize to an apartment is a more sensible choice.

When looking for an apartment, though, older adults must look for something that’s near public transportation and commercial establishments, so you can easily move and access things you need.

2. Maintenance overwhelms you

Owning a large house is well and good until you realise its upkeep. Imagine broken shingles on the roof to replace, a lawn to constantly mow, lots and lots of furniture to dust off, and so on. If the regular maintenance of the house is taking all of your time, then it’s time to live small.

At apartments, aside from only having a smaller space that needs only a little upkeep, you don’t have to worry about the roofs or the yards, since they will be taken care of by your landlords.

Plus, there are amenities, such as gyms, swimming pools, yoga rooms, and playgrounds, you can take advantage of, again, without having to think about maintenance.

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3. You want to save money

If you’re paying much for the house, leaving no savings in your bank account, it’s the clearest sign you need to downsize. Moving might just give you that money back in your pocket and give you freedom in hitting other financial goals, such as starting a business or going on an overseas trip.

Revisit your finances, look for affordable apartments in the city, and see if the benefits outweigh the costs.

Moving homes is always a tough choice. But if you see these signs, it definitely points to the wise choice of living: downsize to an apartment.