When it comes to your home, bigger doesn’t necessarily mean better and many families can in fact, downsize their home without compromising their quality of life. In 1950, average home sizes were less than 1,000 square feet, compared to today’s more luxurious average of 2,600 feet. This highlights how a mobile home can be a feasible and practical step which also offers a number of other benefits.
Cut down on clutter
Downsizing to a mobile home provides a perfect opportunity to streamline your possessions and get rid of anything you no longer use or require. Better yet, choosing to sell your unwanted items can also earn you some extra cash, or you may choose to give back, by donating to a local charity instead.
Reduce household chores
Another great bonus of downsizing to a mobile home is that you will have less to clean, with this saving both time and money! It’s not just inside the home either, as a mobile home removes any need for costly garden maintenance and upkeep, allowing you to pick a different back garden each day, depending on where your travels take you!
Downsizing will save money when it comes to monthly mortgage repayments, allowing you to fulfil other financial goals. A smaller mortgage could allow you to pay off any other debts and save for the future. Investing 15% of your monthly income in to a savings account or retirement fund is something your future self will certainly thank you for!
Alternatively, the savings gained from downsizing can also be used to fund children’s university tuition fees or even buy a second holiday home. Having all of your cash tied up in one property can be a worry for many homeowners, in case there is ever a need to access a large sum of cash quickly, due to unforeseen circumstances such as ill health or redundancy. Swapping to a mobile home is a great way of future-proofing and freeing up cash, whether that’s for a rainy day or life’s uncertainties.
Swapping your existing home for a mobile home or holiday home can even allow you to use the proceeds from the sale of your house to pay in cash for your new home, allowing you to be mortgage free. If paying cash outright isn’t a viable option, putting down between 10-20% on your new home will ensure that you pay off your mortgage much more quickly.
As well as the overall property costs, downsizing is also sure to reduce your utility bills, giving you even more extra money each month which can be put towards the future, or spent and enjoyed!
More family time:
Cutting down on your square footage may result in more compact bedrooms, but this can actually encourage your family to spend more quality time together in communal areas, instead of being spread out across the house. Cutting out unnecessary space and distractions gives your family the opportunity to interact more on a daily basis, which itself is invaluable!