Thinking About Downsizing? Let us help!
There are many reasons why a homeowner might consider downsizing, from the need to find a more manageable living situation as they grow older, or as their family grows and needs more room. Other people choose to downsize after a divorce, while others still may be looking to save some money by relocating to a smaller, more financially manageable home.
Whatever the reason, first-time downsizers often face the same set of questions and hesitations. Namely: is downsizing right for me? Is this the right market for downsizing? What is involved in downsizing? And how will I deal with all my stuff in a smaller space?
If you're thinking about selling your home and moving to a smaller one, you can rest easy. Downsizing doesn't have to be difficult, and this article below will walk you through some simple steps that can make the process of downsizing as smooth as possible.
How Do I Know It’s Time To Downsize?
Let's start off by taking a look at the various reasons homeowners have for downsizing:
Retirement
One of the main reasons homeowners choose to downsize is for retirement, as they no longer need the space and amenities that come with a larger home. This can be especially true if your family is grown and you've already moved the kids out of the house. Downsizing into a smaller place not only frees up money for your retirement, but it also helps you to simplify your life.
Too Much Maintenance
If your home is on the larger side, there are also often concerns about upkeep. Maintaining a large property takes time, money and energy. If you're feeling overwhelmed by all of it, downsizing can help simplify your life as you won't have to worry about things like roof repairs or landscaping.
One excellent option if you're looking for less maintenance is condos. Condos can be perfect for those who want to live in the city, as they often come with several amenities included and require very little upkeep outside of your unit.
Lifestyle change
Perhaps you've moved to a new city and now need to find a more urban apartment or condo. If so, downsizing might be exactly what you need. Once you're settled into a new city, it might be time to think about downsizing to something that better matches your lifestyle.
Maybe the kids have flown the coop. Needs change as children grow up and move away. When you have children, space is often at a premium. The last thing many parents want is to raise their family in a small apartment or condo, but once the children move out, you might find that downsizing is what's right for your lifestyle.
Financial Troubles
Unfortunately, sometimes downsizing is made necessary because of financial trouble. Maybe you've lost your job and can no longer afford the upkeep of your home. Or perhaps you no longer qualify for a mortgage and need to sell your home so that you won't lose all the money you've already put into it.
I’ve Decided To Downsize, Now What?
Whatever your reasons for downsizing, be sure that it's the right choice. Let's take a look at what's involved in the process of downsizing:
Find a Trustworthy Real Estate Agent
Finding the right agent is essential in a successful real estate transaction. As you're searching for the perfect real estate agent to help you out, here are a few characteristics of a trustworthy agent that buyers and sellers alike should look for:
- Easy to get a hold of
- Excellent communication skills
- Knowledgeable about the market
- Is willing to meet your needs
Start as Soon as Possible And Pace Yourself
One of the biggest mistakes that homeowners make when downsizing is to run out of steam by the end. If you leave everything until the last minute, you might find yourself overwhelmed and running out of time.
Instead, start as soon as possible by figuring out which items you need to keep and which ones can go. If you do this, you'll be much less stressed out when it comes time to pack and move.
If you find it helpful to be as organized as possible, create a checklist and start with the easy rooms (e.g., the bathroom and then the kitchen). This way you can keep track of your progress and know when to take a break.
Focus on One Room at a Time
Downsizing can be an overwhelming process, so stick to one room at a time. This will help you stay focused and give you more energy. If you try to do too much all at once, you'll feel overwhelmed and tired very quickly. So focus on just one room until it's finished before moving onto another room.
Figure out a good starting point for each room. For example, when it comes to the bathroom, start by cleaning out the vanity drawers or cupboards under the sink. Throw out old cleaning supplies, organize jewelry, or sort through linens. In your bedroom, begin with the closet. Purge all clothes you haven't worn in the last year and pack them away for donations. Having a starting point will allow you to meet an easy goal and create some momentum in the packing process.
Measure Your New Space
It's important to know how much space you'll have when deciding what you should keep and what needs to go. Before purging, make a list of the things you plan on keeping so that it's clear what fits and what doesn't. You can do this by measuring your current space or getting realistic about the amount of new space you'll have. Once you know how much room you'll have, you can be strict about keeping only the things you'll actually have the space for.
Consider Your New Lifestyle
Downsizing and moving to a new area opens up a world of new opportunities. New hobbies, new shops to explore, new people to meet, the possibilities are endless! As you pack up your old life, keep your new lifestyle in mind. For example, if you're moving to a new area with exceptional hiking trails, prioritize your outdoor gear first. You'll be able to explore your surroundings more easily and make the most of your new home.
Extra Tips For Efficient Downsizing
Digitize Everything
- Scan all important documents to save on file
- Nix the bulky file cabinets and save on office space
- Get rid of old CDs and DVDs
Avoid Renting Storage
- Consider selling or donating your larger items
- Deep purge your entire house as well as your garage
- Bring only the items you have room for in your new home
Avoid Hidden Costs
- Avoid costly moving companies
- Get rid of broken items or furniture
Downsizing can be a daunting task, but if you follow these tips, you'll be able to declutter and downsize your home with ease. To be clear, downsizing is different from downgrading; you don't need to settle for poor-quality living spaces. If you have any confusion or questions about the process, don't hesitate to reach out for help. A good real estate agent will be more than happy to assist you in downsizing and finding your perfect new home.
Greg Covell is dedicated to selling your home or finding you that dream home you are searching for. Greg specializes in homes for sale in Maple Ridge and the Vancouver area. You are invited to browse his website and call or e-mail him with any questions you have about buying or selling a home in the area.
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