We currently own a large home but only 3 bedroom with a large mortgage to go with it. Downsizing feels like it may be the right way to go even though it would mean a few sacrifices. Did you sell your home first then buy? Did it create a better lifestyle for you? Eg less cleaning, less stuff, more time? More money?
6 Replies
Might have more money but you might end up more crowded and more crowded means more mess because it’s harder to keep clean
My parents had a large house with a large mortgage anf there was 5 of us they downsized and it was horrible. Felt confined crowded and messy. They never got rid of anything either but we were all miserable and as we hit the age to move out off we went with out a thought. And we all look at them now and wonder why they did it they are still crowded miserable and depressed
There is a few things to consider, how big is your family? What is the Long plan for your family? I moved out of a small home 3br and it’s been liberating to have more space. If you downsize are you okay with halving your stuff, always sharing space with the family? Noise? Etc, and obviously affordable housing is so important so long as it’s inline with the goal for your crew then do what you need to. I would suggest though if it’s a quick fix for a short term issue try and keep your home. And find alternative ways. Maybe hedge your bets can you rent small and rent out you place, then get a feel for it?
We haven't downsized but we are a family of five living in a three bedroom home that is 'only' 110sqm. We have made alterations to the internal layout of our home to accommodate our family. Initially it was only two bedrooms so we have turned the original lounge in to the master bedroom, two share the original master bedroom and one has their own room. We have removed walls to make it open plan in the main living areas which certainly creates the illusion of space. A small room off one bedroom is set up with majority of the children's toys and board games along with tv, gaming console and beanbags so they have their own relaxing space - this area isn't huge but with careful planning and well thought out storage there is no clutter.
We don't feel like we are living on top of each other and there is plenty of space for everyone to do their thing - either together or separately if having time out is needed. I wouldn't say we are minimalists but everything has its place and again there is no real clutter. We even manage with one bathroom which includes the toilet!
If you are looking to save money or at least relieve some financial pressure then downsizing wouldn't in my opinion be the end of the world.
Slightly different situation but. I was in a 4 bed with husband and 2 kids. We seperated and I bought a town house. Was so worried/upset about it. I love it. Small mortgage, small bills. Less cleaning! We threw so much stuff out, so no junk and not cluttered. Kids miss the big yard a little, but we are in walking distance to the park!
We went from renting a 4 bed 2 living area double garage house on 800m2 to buying a 3 bed 1 bath 1 garage townhouse. Love it. Ive given up having a seeing room hubbys given up a work space in the garage. We have a zero matinence back yard and the front is all on body corp. We arent mowing every weekend cleaning is so much faster. We have a pool that we dont have to maintain everyone thinks we were crazy doing it but we dont have the financial stress others do with a massive mortgage. We pay 350 a week when we paid 480 a week in rent previously.