Downsizing refers to moving from a larger home into a smaller and more manageable one. Downsizing can have several benefits, such as saving money on mortgage, bills, taxes, and maintenance, freeing up more time for leisure activities and travel, simplifying your life and reducing your stress, and living closer to your support network or in a more convenient location. However, downsizing also has some challenges, such as having less room for guests and belongings, having to get rid of some of your possessions, and adjusting to a new environment. Downsizing may also depend on the state of the real estate market and the availability of inventory. If you are considering downsizing, you should weigh the pros and cons of your decision and research the costs and rules involved if you are moving to a different type of property.
If you think that you might be ready to downsize then here are some tips that you may or may not know.
Break down the downsizing process
Since downsizing into a smaller space can seem daunting, giving yourself plenty of time to filter through what’s in your current home is necessary. One month is the standard rule of thumb to thoroughly work through your spaces.
Assess your keepsakes
Determine which items you want to keep and which ones you can let go of. You can use the KonMari method or Four-Box method to help you declutter.
Only sell valuables
If you have items that are valuable, consider selling them instead of donating them1.
Keep it organized
Keep your new space organized with multi-use storage. Use furniture that has multiple uses such as a bed with built-in storage or a coffee table with storage space.
Decorate with intention
Choose decor that is functional and adds value to your new space.
Downsizing to a smaller house can be a rewarding and liberating experience if you are ready for the change!
"Mr Consistency"
Vince V
Marketing Associate