The thought of downsizing creates mixed emotions for many
homeowners. Though the time may be right, many people still have a hard time
leaving the place they’ve called home for many years. It’s a big undertaking—knowing
what to expect and how to start can make the process less daunting.
What to Expect
On the positive side, moving into a smaller home with less
upkeep can mean lower utility and maintenance costs, freeing up extra cash for
other things you’d like to do. If you’re moving to a less expensive home, you’ll
also be able to convert some of your current home’s equity into cash.
The challenge that almost everyone who’s downsizing needs to
come to terms with is that they probably have more possessions than they
realize. I’ve seen homeowners with an entire room full of sports memorabilia, others
with enough dishware to accommodate several families, and empty nesters whose
clothes filled every closet in their large home.
Another difficulty for many people is that they may find it
hard to prioritize their belongings and let some of them go. In my experience, homeowners who are
downsizing may need three to six months to get their home ready to sell, so it’s
important to start early and give yourself enough time.
Getting Started
One way to get started is to sort items by category so that
you can see how many of each item you have. For example, if you have a lot of kitchen
gadgets, gather them together in one place and decide how many you’ll have room
for, which to keep, and which to give away. Then stick with your decision. This
process works with many types of items, like dishes, clothing, and linens. It
takes patience but is well worth the effort.
If you’re like most people, you probably can’t use all of your
furniture in your new location. Consider donating pieces to a local thrift
store that will pick them up. If you plan to sell some of them, be aware that the
prices people are willing to pay for used furniture—especially big, bulky
pieces—may
be much lower than you expected.
One of the more difficult aspects of downsizing can be parting
with items given to you by a close friend or family member. Consider taking
photos of these cherished items and then letting the items themselves go to a new
home where they’ll be appreciated.
If you’re a book lover who will no longer have space for your
collection, donate to your local library where your books can be enjoyed by a
new generation of readers.
You Might Also
Like
Why Buying Before Selling Can Make
Sense
Remodeling Projects with the
Highest Payoff
Could a 3D-Printed Home be in Your
Future?
FOR
EXPERT ADVICE buying or selling
a home, contact Annette Nelson at (610) 247-7892 or annette@preferredhomes.com
#realestate #housing #downsizing
Copyright © 2021 by Annette Nelson.
All Rights Reserved.
