By Kelli Brewer

Americans have traditionally loved to amass more and more stuff, and that trend seems to continue as reports show no signs of slowing storage industry growth. However, a glut of unnecessary items can weigh a household down and prevent a family from enjoying life thoroughly. Consider the numerous benefits of economizing your lifestyle.

Gain Freedom for Other Activities

A smaller home can free you from time and maintenance costs to do more things you love, like traveling. A more modest dwelling attracts less attention from criminal activity, and a lower square footage is easier to secure.

Create Extra Income From Your Home

Property values typically increase over the long term. When you’re ready for something smaller, you can sell for a profit, purchase a newer home, and pocket the difference, leaving you capital to invest in savings or a new business. Review your local market and strategize your sale for the best deal. A home sale proceeds calculator helps you calculate your home’s current value.

If it’s not the right time to sell, contemplate renting your home. Use a property management company to save yourself the headaches of caring for maintenance and rent collection. Try short-term renting if you’re in a location with many tourists or corporate businesses. If you want to avoid the hassle of cleaning between guests, hire iEcocleaning to keep your rental sparkling clean! 

Save on Home Expenses

Moving to a smaller house can curb mortgage and maintenance expenses and cut the energy consumption of heating and cooling a home while you’re away. Your water bill may balloon when caring for a large yard, which can also lead to water waste — problems you can avert in a tinier home.

Improve Your Mental Health

Constant clutter causes anxiety and stress. It’s easier to accumulate unnecessary items in a larger space. A smaller home forces you to focus on the essentials. Start simplifying so you can fit all of your things in your new spot with these tips:

• Digitize family photos and mementos and keep them in cloud storage
• Have a yard sale or sell used items on e-commerce sites
• Donate clothes you haven’t worn in over a year to thrift stores
• Recycle old tools and equipment or sell them to a scrapyard

Protect Your New Home With a Home Warranty

Homes always have maintenance challenges, so consider investing in a home warranty when purchasing your next house. Homeowners insurance assists you if your home’s structure is damaged, an accident happens on your property, or you experience theft. While a necessary expense, homeowners insurance does not relieve you of the costs of appliances or systems failing. An annually renewable home warranty ensures your appliances, HVAC, plumbing, and electrical systems stay in good repair. Choosing a home warranty is largely based on which company has the best warranty for you.

Start Over After a Major Life Transition

After a significant change or challenging event, a new locale may be best. After adult children move out, the house may feel empty and lonely. Since the school district and the slow streets of suburbia are no longer a necessity, an area that shortens your work commute and is near nightlife may be better. After a job loss, the death of a loved one, or the end of a relationship, life in a new location can allow you to reinvent yourself and prevent wallowing in grief about the past.

Holding on to more than you can manage is mentally, emotionally, and financially draining. Downsizing helps you scale down your lifestyle to improve your life. Formulate a plan, find a new location, and invest in a home warranty to protect your home.