For decades, the Canadian home buying mantra was "Bigger is better." In the 1940s, average home size was well under 1,000 square feet. By the mid-1970s, the average home size grew to 1,075 square feet, growing rapidly in the 1980s, and peaking in the mid-2000s at 2,300 square feet.
But that trend has reversed. In its most recent survey, the Canadian Home Builders Association pegged the average new home size at 1,900 square feet.
Does downsizing pique your interest?
Whether you're an empty nester, looking for less upkeep, want an urban dwelling, or just ready for a change, downsizing to a smaller home may be the right decision.
Is Downsizing Right for You?
If you're considering moving into a smaller home, here are some great questions to answer:
• Which rooms do you use the least in your home? Which ones do you use the most?
• Do you need a big garage, or could you use less space - and less clutter?
• Where in your home do you spend the most time when you're awake?
• What about your home do you consider irreplaceable, and what is more of a luxury?
Knowing what you're willing to live with (or without!) is a good start to determining whether downsizing is right for you.
Two Crucial Tips for Downsizing Your Home
Downsizing your home can streamline your life, but the process itself can be stressful.
Here are two tips to make the journey smoother:
1. Get rid of all the "stuff" you really don't use: you won't have the luxury of keeping everything, so take some time to clean house.
2. Enlist some help. Whether it's hiring an organizing expert or just calling in a favour from a friend, a neutral eye can do wonders as you start consolidating your belongings - and deciding what stays and what goes.
Two More Great Downsizing Tips
Are you getting ready to downsize?
Here are two more great tips:
1. Consider donating some of your belongings to a registered charity. It's a great way to simultaneously give back and clear some space. You may also be able to receive a charitable donation tax credit.
2. Go digital: Your camera can capture memories so you can let go of some physical items that have been sitting around in boxes.
The Downside of Downsizing: What to Avoid