• About
  • Mortgage Basics
  • $40K Challenge
  • Aunt Doris
  • Grandfather Says
  • Privacy
  • Archives

Len Penzo dot Com

The offbeat personal finance blog for responsible people.

From House to Apartment: Downsizing Strategies for Smaller Spaces

By Sean Ryan

tiny houseDownsizing. The idea conjures images of sad faces carrying boxes of precious items. It’s associated with loss, tragedy, and change. But what if you could spin it? Downsizing from a house into an apartment doesn’t have to be painful. There are ways to make the transition easier.

Start Early

The quality of the apartment that you live in will affect your life for the next year or more. If possible, shop as far in advance as you can to avoid having to pick the first available unit that comes your way. To find quality units, seek referrals from friends and family in the area. They’ll know which areas to pick and which to avoid entirely. Newspaper ads and community bulletin boards are other sources of rental listings. Or just ask on social media. Someone is bound to know someone else who is selling.

Evaluate The Transaction

For best results, you should know how much you’d like out of the transaction before you put the house on the market. If possible, start early so that you don’t take the first bid that comes along. If you can wait a year or more you might get more money for your home. More money means more to invest or put into an emergency fund. But if you can’t, seek the help of professionals in the business who can direct attention to your listing quickly. Or, ask friends for who they’d recommend.

Use This as a Time to Focus

Donating half your possessions can be seen as a loss or as an opportunity to gain fresh perspective. What items do you really need? What have you held onto that doesn’t serve a purpose anymore? Getting rid of the clutter is also a great way to process emotional baggage and negative associations.

Prioritize Space Saving

Not everything will fit in your new living space. What items can you do without? You may not be able to fit three dozen towels in your new master bath or fit an entire book collection into a large bookshelf in your living room. But you might be able to fit your favorites on a small bookshelf. If possible, purchase storage options that don’t take up more space. A corner stand-alone closet can add extra space in a small kitchen or bathroom and an under-the-bed container can help you utilize your space more effectively. Other options include furniture that doubles as storage such as a footrest with a lid or a coffee table with drawers. If you must, rent a storage unit until you can arrange your items effectively.

Focus on the Positive

Think of all the time and money you’ll have now that you’re in an apartment. Weeding? Gone. Painting the house? Also gone. What’s left is the ability to enjoy your living space without needing to also spend time maintaining the exterior or fixing appliances. Another perk? Lower utilities. Rates are generally cheaper for apartments than they are for houses due to the smaller square footage. A final perk? Security. Apartments are close enough together that a thief isn’t likely to go unnoticed for very long, especially once the community gets involved.

Make the Space Yours

With their white walls and sparse interiors, apartment can be a drab place to live in. Spice it up by adding decoration that adds color but won’t break the bank. For example, add an inexpensive couch cover, some bright throw pillows, and a small painting to highlight your living room. For bathrooms, new towels and mats can brighten an otherwise boring space. For kids rooms, buy them new bedding or removable wall decals. Remember that less is more when it comes to apartments.

Downsizing doesn’t have to be a tragedy. Whether the reason is because of retirement, a layoff, or a divorce, there are always ways to spin things around. Living in a flat isn’t a failure; it’s an opportunity. An opportunity to start fresh, meet new neighbors, and to free yourself from the burden of a housing scheme or land ownership contract. This is your time to make your life yours and do things differently.

***

Sean Ryan works in property and has overseen plenty of downsizing scenarios. He likes to share his thoughts on things like downsizing strategies with an online audience. Sean writes regularly for a number of property-related websites.

Photo Credit: MarkMoz12

August 19, 2020

Comments

  1. 1

    Karen Kinnane says

    Have a yard or garage sale to get rid of the excess. You’ll have fun seeing who buys what, and hearing them talk excitedly about plans for a new career for your unwanted things. You’ll also see the value of used goods and maybe that will push you into buying recycled at yard sales yourself instead of always heading to the “new stuff’ store to furnish your new apartment.

The Question of the Week:

Are cryptocurrencies a legitimate wealth preservation asset?

View Results

Loading ... Loading ...

Recent Posts

  • Black Coffee: Digital Castles in the Air
  • How to Improve Your Sports Betting Success
  • Toyota Has Started Accepting Bitcoin for Payment
  • 100 Words On: Why You Need Emergency Savings AND a Rainy Day Fund
  • Why You Should Consider a 203k Mortgage When Buying a Fixer-Upper
  • 6 Ways to Avoid Becoming a Pickpocket Victim
  • What Beginners Should Think of Before Starting Forex Trading
  • The Embarrassing Anatomy of a Phishing Scam
  • Black Coffee: Too Little Too Late
  • Dealing With a Deceased Person’s Money and Property

Disclaimer

This site is for informational and entertainment purposes only, and the content herein should not be mistaken for professional financial advice. In fact, making investment decisions based on information published here, or any other website for that matter, is more than unwise; it is folly. This website accepts advertising in the form of monetary and other compensation; as such, topics of discussion are occasionally influenced by these advertisers. Sometimes, an article may also include affiliate links, meaning, at no additional cost to you, this blog earns a commission if you click through and make a purchase (for example, as an Amazon Associate I earn from qualifying purchases). Remember, you and you alone are responsible for the decisions you make in life, so please contact an independent financial professional for advice regarding your unique personal situation.

Sign up for the weekly Len Penzo dot Com newsletter
Len Penzo dot Com Delivered Weekly
Join more than 40,000 readers and fans who enjoy personal finance and macroeconomics with an offbeat twist!
Invalid email address
Thanks for subscribing!

Popular Now:

  1. 1. The 6 Most Valuable Grocery Store Products
  2. 2. Series I Savings Bonds Are Now Paying 9.62%; Here Are Their Pros & Cons
  3. 3. 25 Examples of Shrinkflation That No Longer Fool Consumers
  4. 4. 7 Big Reasons Why a Roth IRA Isn’t the Best Way to Save for Retirement
  5. 5. 3 Ways That Great Sleep Helps You Get Richer
  6. 6. What’s the Fastest Way to Pay Down Your Mortgage Early?
  7. 7. How to Save Money on Dental Care So You Won’t Go Broke at the Dentist
  8. 8. Historical Gold & Silver Benchmarks for Wages and Commodity Prices
  9. 9. Tip Inflation: We’ve Got Nobody to Blame But Ourselves
  10. 10. 4 Good Reasons Why Some Quarters Are Painted Red

All-Time Most Popular:

  1. 1. 19 Things Your Suburban Millionaire Neighbor Won’t Tell You
  2. 2. Dear Friend: Here Are 41 Reasons Why I’m NOT Lending You the Money
  3. 3. Why Your Expensive Luxury Car Doesn’t Impress Smart People
  4. 4. If You Can’t Live on $40,000 Annually It’s Your Own Fault
  5. 5. 21 Reasons Why Corner Lots Are for Suckers
  6. 6. 4 Smart Reasons Why College Isn’t for Everyone
  7. 7. 18 Fast Facts About Social Security Numbers
  8. 8. My Ketchup Taste Test: Upset! Guess Which Brand Topped Heinz
  9. 9. Why I Prefer a Spreadsheet to Track Expenses and Manage My Finances
  10. 10. Here’s a Simple Trick for Getting Credit Card Interest Charges Waived

Copyright © 2022 Len Penzo dot Com · All Rights Reserved · Designed by Nuts and Bolts Media

© Len Penzo dot Com 2008–2022