So, you’re considering making the move to a smaller home. Maybe you are downsizing because the children have left home , you might be wanting to take the pressure off the upkeep of a bigger property or maybe you want to free up some extra money.
Here we we explore the benefits of downsizing to a smaller property in the local property market.
Have more disposable income
One benefit of selling a larger property and buying a smaller one, is the freeing up of some money
Other benefits is the noticeable saving on your utility bill, maintenance costs of a larger property and spending money on barely used rooms.
Have more downtime
As they say, time is money.
A home that is bigger than your needs means you are spending a lot more time on its upkeep. Cleaning bedrooms that are no longer used on a daily basis, cleaning a swimming pool that is maybe used a few times a year, takes up enormous time each week
By owning a smaller property, your cleaning and repairing needs are less. You will only have to worry about the spaces that you use regularly, freeing up time to pursue hobbies or travel
Once you’ve moved to your smaller home you will find you don’t miss all these other rooms.
Funding your free time
If you’re retired (or retiring in the near future), downsizing in Malta can be profitable. We know that you you’ll want to have the reassurance and comfort of financial security when you’re not working, and moving to a smaller house can help secure some of those funds so you can enjoy your downtime, meaning retire with confidence
A choice of accessible property
If you are retired or retiring soon an important consideration is in finding a property which has good accessibility and mobility. In Malta property owners who are looking to downsize, find that apartments are a good option.
With your lounge, kitchen, bedrooms and bathrooms all on the same level, you no longer need to contend with stairs or worry about maintaining your outdoor space in Malta. While a ground floor apartment could be a beneficial option, most apartments in Malta have a lift, so it’s easy to get to your front door whether you’re uneasy on your feet, or you require wheelchair access.
Enjoy the view from a penthouse
If you are not wanting to lose that sense of luxury, a penthouse apartment could be what you are looking for. Homes at the top of an apartment block are highly sought-after and hugely popular for a number of reasons.
Firstly, a penthouse will always have great natural light. Your home will be bright and airy as there will be very few buildings obscuring your view.
Secondly, penthouses offer some outdoor space. If you’re keen to downsize but don’t like the idea of losing access to your own spot in the sun, penthouse apartments are great, as they will have a terrace (often at the front and back of the property). Perfect for growing your own plants, or just unwinding in your spare time!
Thirdly, opting for a penthouse in Malta is the unrestricted access you’ll get to stunning scenery of the island. Whether your home overlooks the vibrant countryside, a glistening sea, or historic architecture, you’ll have a great view to look out across.
Finally, a penthouse is fantastic for privacy. By law, rooms on the roof of terraced houses, and homes on the top of apartment buildings, must be setback at least 4.25 metres from the façade of the building (and 1.5 metres from the back of the building).
Whatever your budget there are properties for you
Whether you’re looking for a spot by the coast, a countryside home, or a place in one of Malta’s most popular towns or villages, there are smaller properties in every region that you’re guaranteed to love.
So, let’s take a look at some popular areas for people looking to move to a smaller property for sale in Malta – and what it will mean for your wallet!
