home, you can also save money on some of your bills! If you choose a smaller single-family home or townhome, you can save a significant amount on utilities, such as electricity and gas. Smaller houses are often considerably more energy-efficient than older, larger homes because they have less space to heat and cool, which means more savings for you, as well as a lower ecological footprint. Likewise, single-story homes can be easier (and less expensive) to heat and cool than 2-story homes, even if they share a similar square footage.
House vs. Townhouse
There are certainly differences between choosing to downsize to a single-family home vs. a townhome or carriage home. There are benefits to living in a townhouse compared to a smaller detached house. For example, some homeowners who are downsizing prefer complete privacy and independence, and aren’t ready to give that up just yet — but also aren’t ready for community living. Compared to a townhouse, a smaller single-family house has more privacy and provides greater independence. Though likely smaller than your current home, a single-family home may offer a beautifully landscaped backyard with a garden, a fenced-in yard, a garage, and the freedom to be able to do what you want with the home, including repainting the exterior and adding some outdoor home improvements. These options aren’t necessarily available with townhouse living, as there may be standards and bylaws preventing you from making the changes you want. Of course, there are benefits to living in a townhouse compared to a smaller single-family house:
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