There are plenty of reasons that make downsizing to a townhouse appealing; less cleaning, the chance to live closer to the city, and, probably chiefly, the prospect of a pocket full of equity and utility savings. But are there some issues to ponder before going ahead with the swap.
Are you ready to give up the space?
The thoughts above make downsizing seem like a no-brainer, but do you have an active social life? Love throwing parties and welcoming family in for the holidays? It will probably transpire that moving to a townhouse will no longer afford you the room or resources to have regular company. Of course, most townhouses come equipped with a back yard, so you can always fire up the barbecue for a few close friends.
Another potential roadblock if you live with someone can be finding a safe space to get away for some alone time. Being used to a big house and your own space can be a haven when you just want to get away from your cohabitant. Just ask my wife.
Have you thought about an apartment?
An apartment can offer a lot of the same advantages that a townhouse provides. In addition, you will be even closer to the action of the city, and be an instant part of a close community, if that happens to be your thing.
If you have young children or are getting on in life, stairs can get tiresome very quickly. If you aren’t on board with the community of an apartment block, a row of two or three townhouses affords the neighbourly feel without having to walk past a floor’s worth of life every time you need groceries. If you want a townhouse lying along an oceanfront, you can check Townhouses for sale in Myrtle Beach SC.
How many belongings can you live with?
An often underappreciated aspect of picking up and moving to a smaller home is what you might have to give up in the process. If you’ve lived in any home for a reasonable amount of time, possessions inevitably build up. Can you handle the thought of getting rid of a few memories?
If you try to keep everything, chances are you’ll be tripping over old cardigans and knocking over generations worth of side tables. Look at the bright side, fewer belongings means less home maintenance.
So what benefits do I get?
In short, money in your pocket while retaining (most of) the freedom and privacy of your current home. Sure, downsizing comes with its issues, as the connotation suggests. However, you will be able to settle into your new home with some expendable income no matter the state of the market, or how much of a dent you’ve made in your mortgage.
The image of a tranquil suburb within the inner city limits appeals to most over a bustling apartment complex, with similar convenience. If you can make your peace with fewer hosting duties (less cleaning up!) and don’t mind giving away some clutter (or selling for a little pocket money) then downsizing to a townhouse could be a fantastic idea.