Downsizing your home can be an emotional process.
It’s a significant – and symbolic – change that brings up feelings of loss or sadness. But, it’s important to view downsizing in a positive light, to take the opportunity to build the lifestyle you’ve always dreamed of having.
In this article, we’ll share a few tips on how to prepare to downsize your home. Hopefully, these will take a bit of the stress out of this huge lifestyle change. Let’s jump right into it.
When your children leave the family home, it can feel like a massive loss. What was once a vibrant, noisy, even messy home is now calm and quiet. Instead of focusing on what’s not there, look ahead into the future and start concentrating on the financial and lifestyle benefits you can enjoy by downsizing.
And, remember that although your kids are out of the home, they are not out of your life. You will make new memories in your downsized property, and it too will begin to feel like home.
Here are a few quick tips worth considering as you embark on the downsizing journey.
This is a challenging activity – there’s no doubt about it. Before you downsize, you’ll need to go through all of the belongings you have accumulated over the years. A smaller property can’t hold as much, so you will need to get rid of some things – furniture, old paperwork, old clothes, broken appliances, and more.
If it’s time to purchase a smaller property, you should first evaluate your financial situation. Consider how much your current home is worth. Also factor in the type of lifestyle you’d like to lead, and account for costly activities such as yearly travel. Then, determine a budget.
Downsizing means moving into a smaller home – but how much space do you need? It’s always worth having at least one spare bedroom for visitors. Perhaps you’d like an office, a studio, or a workspace too. Do you need or want a back garden? Do you want enough room to host family dinners and holidays?
Consider all of your options, including house and land packages, different dwelling types, new suburbs and estates, and even knockdown rebuild and subdivision opportunities that would allow you to stay in the local community.
There is no need to rush as you downsize. Take your time. Make the move when it feels right, and when you’ve found your dream property.
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