How many times have you heard the saying “less is more”? Nowadays, many home owners are taking that approach and are planning to downsize their living space. While downsizing was previously an attractive option for seniors, it is now becoming a trend among young adults. Whether you own or rent, there are many reasons why smaller homes are a more attractive option.
Downsizing allows you to free up capital that was tied down to your existing home. Smaller homes mean reduced bills. Heating and cooling a smaller home requires less energy. You will save money on property tax and mortgage payments. The money you save can be used to do the things you enjoy or put towards your retirement.
Downsizing into a townhouse or condo is relatively more affordable for young couples, new families, or seniors. With the continued increasing home prices, many people are considering downsizing into a smaller home.
Many condo buildings are built close to grocery stores or restaurants, so you don’t have to worry about traveling far. The convenience of being able to walk to the store might make you consider downsizing to a condo.
Another reason is that you no longer need to spend time or money on maintenance of the exterior of your home or on landscaping, it is all covered by your condo fees. Therefore, not only will you save money but you will also save time that can be spent on leisure instead of the maintenance of your home.
Whatever your reasons are for downsizing, contact us at The Winthorpe Modern. We have a variety of available options and floor plans that are suitable for anyone looking to downsize.
If you have any questions about our luxury condos or our townhouses, contact our experts today at 416-900-6076. We are here to help!