When downsizing to the right fit there are some important questions to ask yourself before you make the move.
1. Does size matter to me?
Think about how much of your identity is wrapped up in your house. Moving to a smaller home goes against conventional thinking that "bigger is better" If you think you will feel that "smaller is worse", then maybe your are not ready.
2. Can I live without a more spacious home and garden?
Will moving into smaller quarters fell like a step backwards or will I adjust. If you love gardening or barbequing, the downsize needs to take this into consideration and incorporate into the new home, all be it on a smaller scale.
3. What can I part with?
For so many of us our belongings are part of our identity. If you are comfotable parting with some possessions, you are ready for downsizing. This will not only include mementoes of the past, but some of your furniture like your dining room suite, large bedroom pieces. If you can’t imagine replacing these items with new, smaller versions, you may not be ready for downsizing.
4. Is it just about saving money?
Most people assume downsizing to a smaller home will automatically cost less than the price of their current home. Keep in mind, that generally, the cost per square foot of a smaller house is more than the price per square foot of a larger home so you may end up paying the same amount for a smaller home. And many times, when people "downsize their space" they tend to "upscale their style" which doesn’t net in a cash saving.
5. Will other life events affect living in a smaller home?
Consider the possibility of adult children moving back home or having to care for an aging parent in your home. You don’t want to downsize and then turn around and upsize.
6. Is it worth it?
Will a smaller space work for you? Can cutting the square footage in half have a positive effect on your lifestyle ... your carbon footprint ... your bank account? Sizing down will almost always mean savings on household expenses as less square footage will mean less utility costs.