Downsizing Your Home (Life?) Explained in One Minute: Should You Move to a Smaller House/Apartment?

Perhaps you're nearing retirement and the kids moved out, maybe something else happened that made you think about downsizing your home... and yes, ultimately your life.

Should you move to a smaller house or apartment so as to free up capital?

As explained in this video... well, it depends on what you do with that capital.

Downsizing your home so as to use the freed up capital for consumption is let's just say sub-optimal at best. However, investing that money wisely may just prove to be the best decision you've ever made.

Think of the journey of downsizing your home as a journey toward financial freedom. As corny as it sounds, this is what it can ultimately boil down to. On the one hand, you move to a smaller house or apartment because you just don't need that much space anymore and on the other hand, you can use the additional capital in a wide range of creative manners: anything from creating additional income sources to simply having an emergency fund for a rainy day.

So, should you downsize your home?

If you're asking this question in the first place, the answer is most likely yes, but as explained in this video, being smart about it is paramount!

[OneMinuteEconomics]

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[OneMinuteEconomics]

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[GothGirlWorld]

People keep telling me to sell my house and move to a smaller one. (They don't stop to think I might want to get married and/or have children) What they have in mind (I guess) is to put money in my pocket since right now I am struggling to pay basic bills and afford to feed my cats. I think it wouldn't be smart of me to slap a For Sale sign on my home without viewing other properties first because I don't want to quickly have to find something and it might be something I'm very unhappy with as well as not meet my needs. At the same time no one (realtors) aren't willing to work with me to show me properties. Now we're at a stalemate. I don't know what to do.

[hrtdinasaurette]

I googled UK n got USA - totally different situation. Thanks for nothing google. We’re hugely over populated and have no choice.

[peterlongo]

Single guy in his 40s, i want to downsize from a 3 bedroom 1260 sq feet to a 1bedroom 640 sq feet 1bedroom- people think im crazy but it makes sense financially for what i need.

[Timbone]

Great video. I have a question
Can I embed your videos in polls on my website?