Are you looking into downsizing, but don’t know where to start? Check out our Downsizing Frequently Asked Questions to start your downsizing journey.
What is Downsizing in Real Estate?
Downsizing is moving from a larger home to a smaller home or to a home that has a more appropriate floor plan.
When Do I Think About Downsizing?
When the home you are in becomes a burden financially, physically or emotionally.
What are the Advantages of Downsizing?
Costs savings is the biggest but also reducing the amount of time and energy taking care of a large home and property.
What are the Disadvantages of Downsizing?
You will have less room for you and your lifestyle and you will have to give away or sell items that you won’t need. It can be emotionally draining if the choice is not the seller's own.
Things to Prepare for When Downsizing?
Getting rid of “stuff” to include papers, books, clothing, knickknacks, collections. This is the most important. Also understanding what will fit into your new home and what you really need.
Common Downsizing Mistakes
Putting “stuff” into storage to deal with later and taking too much furniture to the new, smaller home.
Start by visualizing the type of home you want to move to. If it is a condo, you can start shedding items that involve taking care of the yard and garden. If you are moving to a 2 bedroom home from a 4 bedroom home know what you are taking and start to sell or give away the bedroom furniture and bedding you won’t be needing.