have to worry about driving as much.
3. You’ll have even lower monthly utility bills.
A second and important benefit of downsizing into a condo or apartment is that you’ll be able to save even more on utilities and reduce your monthly bills—more than by purchasing a smaller house or townhouse. Most condos and apartments take up less square footage than a single-family home or townhome, and considerably more than the larger family home you’re leaving behind, so you’ll pay much less to heat and cool your space, especially if you can find a good deal. “You’ll use less electricity, heat and water in an apartment, and some monthly bills may be eliminated altogether,” reports Nationwide Mutual Insurance Company. “For instance, the monthly cost to rent a water softener to manage hard water is unlikely inside an apartment. Some of your utility costs may be included in your rent, too, such as your waste management or water bill.” Besides saving money, you’ll also be making a good choice in sustainability, both environmentally and financially. For example, many modern condo and apartment buildings are being built with an eco-friendly, more energy-efficient, and “greener” approach.
4. You can meet new people.
While some homeowners in the process of downsizing prefer to move into a small house so they can maintain their independence, enjoy privacy, and reduce the possibility of dealing with annoying neighbors, other downsizers hope to meet new people, get to know their new neighbors, socialize, and make connections.
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