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The Benefits of Downsizing

Published Nov 11, 2019
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If you're approaching retirement, becoming an "empty-nester", or just getting overwhelmed with the amount of space you have to maintain, it might be time to downsize. 

Downsizing can mean moving from a house into an apartment or moving from a larger apartment to a smaller one. Here are the benefits of downsizing to help you determine if going smaller is the right move for you.

Financial benefits

When you downsize you are (usually) reducing your cost of living. When moving from a house to an apartment, you'll get a substantial reduction in utility costs and lower insurance rates. Apartments also provide peace of mind with no hidden fees, costly repairs, or expensive upkeep to worry about. Household stresses are reduced when you aren't responsible for major repairs, appliance replacements, or hefty labor fees.

Household benefits

Large homes often have multiple bathrooms, along with extra rooms that need to be cleaned on a regular basis. When you downsize, you'll have a more manageable space to maintain and keep clean, which means you'll have more free time to spend with family and friends. Downsizing also gives you the opportunity to "purge" items that may be collecting dust, freeing up space in your new apartment. 

Lifestyle benefits

Downsizing into an apartment can improve your social life. Apartment living can make it easier to travel, meet new people, and stay organized. You may even find yourself becoming more social - with less upkeep and maintenance, you'll have more free time to do things that interest you. Downsizing can also make you feel better about your carbon footprint. Many apartment communities are in prime areas of the city, which reduces the need for a vehicle. 

When you're ready to downsize, view our suites in Edmonton or contact us to inquire about our apartments in other cities.