Your rental home should be a good fit for both your needs and the way you live. If your situation has changed, you might be thinking about downsizing to a smaller rental home. Having extra bedrooms and a lot of space can be ideal for some, but it also means more cleaning and maintenance.
As the common phrase goes, “More isn’t always better.” Sometimes it’s just extra.” Before deciding if downsizing your rental is right, let’s consider a few points.
When downsizing makes financial sense
In most regions, larger rental properties tend to cost more. Maintenance and utility costs are also higher in larger homes. This is a key reason why many think about downsizing, to reduce expenses. 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. This change in mindset can help you make a decision that focuses not only on space but also on your financial stability.
Reducing clutter and simplifying your living space
When considering downsizing, assess your belongings and figure out how you plan to manage them. If you own a lot of furniture or collectibles, they may not fit in a smaller rental home.
Renting a storage unit is an option, but those monthly fees could pile up quickly. Consider if the storage unit offers climate control, as temperature swings and dust could damage your valuable items. Try minimizing your possessions before moving into a smaller rental, if you can.
Spending less time cleaning
Comfortably moving around your rental is an important aspect of finding the perfect fit. If your current rental includes stairs or features that make access tough, downsizing to a one-level home could be a smart move.
With less cleaning and maintenance, smaller homes allow you to spend more time on other activities rather than household chores.
Living closer to specific amenities
If you’ve been eager to live nearer to cultural centers, nightlife, or other attractions, this could be reason enough to think about downsizing.
Rental homes near desirable amenities are often more expensive, but downsizing may allow you to find something affordable with easy access to the places you enjoy.
Is downsizing the right choice for you?
Maybe you’re thinking of downsizing because your life and priorities have both changed. With the kids grown and retirement nearing, you may be looking forward to spending your free time away from 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 prepared to find a new rental home in Midwest City or the surrounding areas, Real Property Management Elevate is here for you. We have a variety of rental homes that suit different 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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