You have seen it in your Pinterest and Instagram feeds. Downsizing culture has taken the world by storm, and for good reasons. People living in highly urbanized locations do not have the same luxury as those living in suburban areas. For one, space is expensive. Choosing to live in a smaller space can cut down a significant chunk of your living costs.

Working millennials often turn to small living spaces. It gives them control over their finances and makes owning their own space more affordable. Demand for preselling condo and studio spaces are on the rise, as more and more working millennials prefer the convenience of living near where they work and near commercial hubs.

The exponential rise in population in major metropolitan cities has made small living spaces more popular. Developers showcase tiny units targeted to people who choose to live solo. Land ownership has become an expensive commodity, and condominiums provide people a convenient setup in the city. These small units provide people their own space amidst the bustling life of the metropolis.

What Makes Downsizing a Hit Among New and Old Homeowners

There are different reasons why people choose smaller spaces. It could be personal, social, or even economical. But here are the things that make tiny spaces a great option for those who are just starting a life on their own.

1. It is more affordable.

Not only are smaller spaces more affordable to purchase or rent, but they are also easier and cheaper to maintain. They are easier to clean and manage, which is a big plus if you are busy with work.

Smaller furniture is also cheaper. With a smaller space, you will not be tempted to buy bulky sofas that take up so much space and so much of your hard-earned money. Your electricity bills will also be lower since your HVAC will only cover a smaller place to heat and cool.

2. It will curb your impulsive buying habits.

When you have a smaller space, you will think twice before buying anything you do not need. Every space is precious, so buying things that will add to the clutter is a big no-no. It will shape you to be more mindful of your belongings and not fall into the shiny trap of consumerism.

3. It is easier to style.

Of course, styling a smaller space is easier and less costly. A single painting can make a strong impact and be the focal point of your home. You can splurge on a single statement piece, which can instantly make your place look made up.

4. It can help you be more mindful of your clutter.

When you do not have any place to hide your clutter, they become harder to ignore.¬†You will have to purge and dispose of your clutter so that they won’t get in your way.

5. It helps you to save for the things that truly matter.

You can save more money for your future, insurance, and even your retirement. With a smaller space, you are not burdened with sky-high mortgages and utility bills. You can free up more money for your savings and investments.

6. It allows you to be more effective and efficient with your time.

Since you don’t need to spend hours cleaning and tidying up your space, you can use more of your time for other important things.

7. It is cozier and more inviting.

A smaller home feels cozier and warmer. That’s because people tend to gravitate towards each other when in a smaller space.

 

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Make the Most of Your Small Home

Creativity comes into play when you have limited resources. When it comes to smaller homes, space is a premium commodity. Making the most of every square inch is a must. Clever use of your space is necessary to make your home look more spacious than it is.

  • Use your wall space.

It’s a wonder how many things you can do with your wall space. You can use hooks to hang your bag, umbrella, jacket, and even your pants. Wall-mounted shelves can also serve as additional storage. Mount your flat-screen TV to save space. You can also hang your cooking pans and aprons on hooks.

  • Invest in double-purpose furniture.

Pieces of furniture that offer you multiple uses are great for saving space. You can use benches with hidden storage or a bed with storage shelves to keep your clothes.

  • Use your doors.

Hooks at the back of your doors can be used to hold your belongings. You can also use the back of your cabinet doors to give you extra storage and hanging space.

  • Opt for wall-mounted light fixtures.

Choose wall-mounted light fixtures over desk and floor lamps, which can take precious floor space.

Gone are the days when people are willing to suffer through costly mortgages for bigger homes. Choosing a smaller living space can be your best move for your financial health and your sanity as well.

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