Shrink Your Housing Costs: The Pros and Cons of Downsizing

Moving into a smaller space can make a lot of sense. Usually, you’ll save money, experience less stress in your life and reduce your carbon footprint by downsizing. It can also signal a new chapter in your life. But downsizing isn’t without its downsides. For starters, it’s a lot of work to move. Not to mention, downsizing doesn’t always save you as much money as you think it will.

We’ve compiled a list of pros and cons to help you decide if downsizing into a smaller space is the right move for you.

Pros of downsizing

Most people who downsize do so to save money, but it’s far from the only reason to consider moving into a smaller space. Here are some obvious—and not so obvious—benefits of downsizing.

No mortgage

Lower monthly costs

More time

Less stress

New lifestyle

Lower carbon footprint

Cons of downsizing

You will make sacrifices moving into a smaller house. In addition to parting with some of your stuff, you may also have to give up entertaining and overnight guests. Not to mention, downsizing may not be as monetarily beneficial to you as you expect it would be. Read on to see if making the move will be worth it for you.

The work

Hidden costs

Less privacy

Not enough space to entertain

Less storage

Ready to move?

If you decide downsizing is the right decision, hiring a professional can take a lot of the stress out of your move. To find a capable moving company near you, check out Moving.com’s extensive network of reputable and reliable movers—all licensed and insured.