Upsides to downscaling

14 October 2021 | Life Style

Lockdown restrictions caused many to seek out more space after being confined to their homes. While this presents a good option for some homeowners, others may benefit more from what they stand to gain by downscaling.
Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, explains that there are many perks to living in smaller spaces.
“Living in a smaller space is far more cost effective. Not only will the monthly instalments on a smaller home be more affordable, but owners will also save on monthly rates accounts and maintenance costs. Larger homes often mean running up larger water and electricity bills than in a smaller home,” Goslett says.
“Smaller homes also mean fewer spaces to clean and less space in which to store unnecessary items. In a smaller home, every square metre is essential. This also means that every room is highly functional, which lessens the chances of having unused rooms in the home,” he adds.
Although having too little space can prove taxing on the household’s relationships, having too much space can be equally challenging. “One thing lockdown taught us is the importance of human connection. In the busyness of everyday life, finding the time to connect as a family can be challenging enough without having to find each other spread across the various rooms in the home. Smaller homes force more interaction which minimises the chance for families to live past one another, as so easily can happen when living in large homes with multiple rooms,” says Goslett.

Closer to nature
Many homeowners have also learnt the value of living in a suburb that is closer to nature rather than to the office. “Following the initial hard lockdown, many have chosen to move away from the main business hubs and relocate to the country in search of a more relaxed lifestyle. By purchasing a smaller home, one might be able to afford to live in perhaps a more desirable suburb and enjoy a higher quality of life without being cash-strapped by bond repayments,” Goslett suggests.
Ultimately, Goslett encourage homeowners to find a home that suits their unique needs. “Property is one of the most expensive purchases a person can make. To ensure that these purchases work for you instead of against you, buyers need to view this decision as a medium- to long-term investment. For the best chance of securing a good profit upon selling, homeowners should hold onto a property for roughly five to ten years. This means they need to be sure they can live within the home for a number of years before going ahead with the purchase,” he advises.
For those who are unsure about what their next property purchase should be, Goslett recommends setting up an appointment with a RE/MAX agent to discuss the possibilities. “It can be a lot easier to make up your mind after viewing a few options in person. Be honest and upfront with your real estate agent and let them know that you would like to explore various options of both smaller and larger homes. They can then walk you through a few properties and provide you with some valuable guidance along the way,” Goslett concludes.

Similar News


Smart strategies for sellers

5 hours ago | Life Style

Putting a home on the market can be stressful, and it can be difficult to make objective decisions when it matters most.Adrian Goslett, Regional Director...

Three truths every first-time buyer needs to know

5 days ago - 22 October 2021 | Life Style

Many buyers can find the process of purchasing their first home overwhelming because there are so many new concepts with which to grapple. It is...

How agents benefit an experienced buyer or seller

6 days ago - 21 October 2021 | Life Style

There is often a steep learning curve involved in buying or selling your first home. Thereafter, the process becomes far less complicated and intimidating.Buyers and...

Valuable features to add to your home

1 month - 22 September 2021 | Life Style

Each buyer will have unique preferences, but there are some features that tend to be more popular than others. Knowing what these features are can...

How to buy a house cash

1 month - 10 September 2021 | Life Style

When purchasing a property through home finance, buyers may end up spending the equivalent of what the property is worth in interest over the course...

Three tips for interior design novices

1 month - 08 September 2021 | Life Style

Our environment plays a crucial role in our wellbeing. Living and working in a visually pleasant setting can boost one’s mood and even one’s productivity....

Property: An asset, not an expense

1 month - 31 August 2021 | Life Style

Although property is classified as an asset, there is more to this than initially meets the eye.Assets are purchases that grow in value over time....

Are you ready to sell?

2 months ago - 13 August 2021 | Life Style

Just as buyers need to do their research before taking on homeownership, those who are considering placing their home on the market also need to...

Questions every seller should ask their estate agent

2 months ago - 11 August 2021 | Life Style

Selling property is one of the biggest financial transactions a person can make. Having the best possible service during these complicated transactions will ensure the...

Ways to renovate without losing character

2 months ago - 02 August 2021 | Life Style

For many, the history of a home is what makes it appealing.However, as charming as antique archways and brass finishes might be, rusty pipes and...

Latest News

More Pfizer BioNTech arrives

5 hours ago | Health

The United States government donated 124 000 doses of the Pfizer BioNTech Covid-19 vaccine to Namibia. The vaccines arrived last Friday, following the first consignment...

Smart strategies for sellers

5 hours ago | Life Style

Putting a home on the market can be stressful, and it can be difficult to make objective decisions when it matters most.Adrian Goslett, Regional Director...

Influencer programme generates great interest

5 hours ago | Tourism

Namibia Wildlife Resorts (NWR) collaborated with ten social media influencers on its first-ever social media influencer programme, to create awareness of its resorts to a...

Township women learn to sew

7 hours ago | Social Issues

Twenty-eight Windhoek women recently successfully completed a three-month sewing course at the City of Windhoek (CoW).The course was conducted at the UN Plaza Community Hall...

Shoes heading to Omaheke

8 hours ago | Social Issues

Project Never Walk Alone (PNWA), led by Tim Ekandjo, announced the distribution of the second batch of 1300 pairs of shoes to the needy in...

Creating solutions

1 day - 26 October 2021 | Environment

Namibia is known for its pristine environment and landscapes that attract substantial tourists; therefore, the lack of solid waste management if unattended may lead to...

MICT's say on SIM card...

1 day - 26 October 2021 | Technology

Following government’s policy directive that all SIM cards in Namibia must be registered, the Ministry of Information and Communication Technology (MICT) said that after consultations...

Masks, gowns for Health

1 day - 26 October 2021 | Health

When the third Covid wave hit Namibia, the request for assistance was also heard by Support Ulm e.V. in Germany, and Prof. Dr. Heinz Maier,...

Green, inclusive development to rebuild...

1 day - 26 October 2021 | International

Development cooperation is an important cornerstone of the German-Namibian partnership, as was highlighted by the visit of the German delegation of the Federal Ministry for...

Load More