GeneralThe 3 Reasons Why Downsizing is Gaining Popularity

Moving into smaller spaces has become an international trend in recent years. Many people are giving up their large homes in favour of more modest abodes. Why has this trend in downsizing gained so much popularity? Are there benefits to downsizing? At M&Y Interiors we are well-versed in interior design for any kind of home. With our expertise as interior designers in Hertfordshire, North London, and St. Albans, we can provide you with bespoke guidance when it comes to downsizing.

In this article, we’ll look at the 3 reasons downsizing has become so popular while discussing its benefits. Then we’ll give you some design tips when it comes to limited spaces.

Freedom & Flexibility

One of the primary reasons homeowners have started downsizing is the allure of flexibility. Without a large property to manage, you can invest your time and money in activities outside the home or even luxury features. Without the upkeep of a big house, you could afford state-of-the-art kitchen appliances for example.

Older couples in nearing retirement or empty-nesters are especially considering downsizing. Without the need for a large family home, many move into a more compact space. older couples can feel more independent without a family to look after. Younger, working professionals in North London choose to downsize for greater flexibility as well. Many people see the value of decluttering, minimising their possessions to prioritise out-of-the-home activities or location. A Large home in the suburbs is becoming less appealing for both demographics, who’d rather trade the space for proximity to urban features.

Freedom and flexibility are benefits of downsizing that can come across in the interior design. In addition to selecting luxury features, you can use a bolder design on a small scale. Older couples, for instance, might want a chic, contemporary space for entertaining to break from the functionality necessitated by a large family home. Increased flexibility is one of the main reasons people in London and other major cities are choosing to downsize so much. Let’s look at the other 2 reasons.

Financial Burden

Freedom to change up your space is certainly attractive to those wishing to downsize. The financial freedom associated with a smaller home cannot be denied, either. Not only do large homes cost more upfront, but you’re also making payments and investing in upkeep for years. With a modest-sized home, you can pay off your home sooner and even shift your budget toward other priorities.

One oft-cited concern about large properties, especially coming from older homeowners, is security. Fences, alarm systems, and other security features are required for big homes. This expense usually falls on the homeowners. Many couples, old and young, are moving to gated, secured apartment complexes or communities. These measures are taken care of by the establishment and included in the purchasing price.

The benefits of a lighter financial burden are in line with shifting tastes in lifestyle. Many buyers have started favouring spending on disposable income rather than maintaining a property. Let’s look now at the third main reason downsizing is on-trend.

Family Dynamics

We alluded to shifting family dynamics before, but this reason stands on its own as to why downsizing has exploded. Of course, there are empty-nesters who want to upgrade their space by downscaling on size. There can be other life changes that influence downsizing, too, like divorce, debt, or death in the family. Many people find that holding on to space the family no longer needs can be burdensome. As long as family dynamics will change, so will home sizes.

Now that we’ve discussed the reasons for and benefits of downsizing, we’ll give you a few design tips on making the change from big to small.

Downsizing Design Tips

While downsizing typically trumpets a minimalist lifestyle, some people have a hard time letting go of possessions. This is especially true for older homeowners, who have attached deep, sentimental value to some things. In order to make your lifestyle work in a small space while hanging on to your mementos, you need creative storage solutions.

M&Y Interiors has downsizers’ needs in minds with design ideas like corner sofas, drawers under the stairs, sliding-pocket doors and built-in TVs. Multi-functional pieces that take up little space are essential for downsizing.

Another tip is to create a cosy space by combining light paint colours on the walls with ambient lighting. Large windows or even French doors are also a great way to let in some natural light in the daytime.

Our final tip is decorating to scale. Don’t try to fit larger items, like an oversized couch, into a small space. Many downsizers find that having an open kitchen, dining, and living space is well-suited to smaller homes. Don’t flood this open space with large furniture, as it will only make it feel smaller.

 Final Thoughts

As interior designers in St. Albans, North London, and Hertfordshire, we’ve helped many clients take the plunge and set up in smaller homes. These great reasons cited above have all been gathered from a number of resources in order to give you the best idea of why people are downsizing in 2020 and beyond!

This article has been sponsored by M & Y

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Digital Health Buzz!

Digital Health Buzz!

Digital Health Buzz! aims to be the destination of choice when it comes to what’s happening in the digital health world. We are not about news and views, but informative articles and thoughts to apply in your business.

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