Top 10 Tips for Downsizing

 

 

1.  Start Early.

Downsizing is not an easy process and does not happen overnight. It has taken a lifetime to accumulate a house full of furniture and memories, so don’t expect downsizing to happen over night. Plan at least 6 months in advance.

2.  Planning is Crucial.

Don’t just jump in blindly. Think about what you need to accomplish and set a plan of action.

3.  Explore Your Downsizing Options.

Get out and look at properties. Once you know the house match, you have a size goal to work towards and you know how much you have to downsize to accomplish your goal.

4.  Enlist an Experienced Realtor.

Make sure you are working with a Realtor that understands the downsizing process and the time lines involved. Look for a Realtor that has the patience and staying power to work with you right through the entire process....possibly a few years.

5.  Know Whether to Sell or Buy First.

For some, there is no choice, you must sell first, but working with an experienced Realtor to guide you, you will be sure to get the property you want and have your property sold at the same time. If you can buy before your sell, be sure to consult with your bank or financial advisor so you clearly understand the financial commitment.

6.  Do the Math.

Make sure that this move makes financial sense. Explore and evaluate all the costs and savings associated with this move.

7.  Remember that You are in Charge.

Family and friends can, and should, have input with your decisions. However, you are the one who must ultimately live with these decisions.....so you should be the final decision maker.

8.  Be Patient.

Don’t expect to find the perfect downsizing fit immediately. It takes time to explore the options, think about how each option fits into your lifestyle and then finding the perfect property in that option.

9.  Double Your Initial Time Estimate.

Unless you are experienced at home downsizing, take your initial estimate to find the right property and clearing out of your possessions and double it.

10. Remember the Ultimate Goal.

This process is easier for some people than others. If you are having a difficult time, don’t be afraid to ask friends and relatives for help. Also, don’t be afraid to take a break ... maybe the timing isn’t just right yet ..... you will know when it is and everything will just start to fall into place. Remember, the ultimate goal is to simplify your life.

 

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