As I mentioned in the previous chapter, if you downsize your home, you can also save money on some of your bills! If you choose a smaller single-family home, 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. 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. However, many homeowners would prefer to move into a condo or apartment, and there are many solid reasons for that, which we’ll take a look at in the following chapter.
Key Takeaway:
Thinking about where you would like to live when downsizing is a big decision, as there are many options to consider. We’ve looked at the benefits of choosing a smaller single-family home which can offer things like independence, privacy, pride in homeownership, space for family, and savings on utility bills.
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