Downsizing your home can be a daunting task, but it doesn't have to be. With the right preparation and knowledge, you can make the process of reducing the size of your home efficient and stress-free. In this article, we'll provide you with more than 10 tips on how to downsize your home, plus specific advice for older people looking to downsize and maintain a tidy lifestyle after moving. Start as soon as possible and keep up your pace.
The sooner you start the staff reduction process, the better. A general rule of thumb is that you'll want to start at least 3 months before you plan to move, but honestly, the sooner the better. Focus on one room at a time and measure your new space. This will help you stay organized and make sure that all of your belongings fit in your new home.
Be very picky about new purchases to avoid clutter. Some people live by the rule that if something new enters their home, something else must disappear. This will help to minimize clutter and prevent you from spending unnecessarily. If you're really undecided about a purchase or have bad spending habits, give yourself a 48-hour reflection period to see if you really need the item or if you've just been caught up in the thrill of an impulse purchase. Consider Your New Lifestyle.
Reducing the size of your home has many advantages. First of all, if you've been in your current home for a while, it's likely that its value has increased and that you're close to paying off your mortgage, if you haven't paid it in full. Buying a smaller, cheaper property will give you a lot of leftover capital, to use for whatever you want. It also means that you can buy your new home as a cash buyer, giving you more options, a faster chain and the ability to live without mortgages. Reducing to a smaller home means less maintenance, lower bills and more time to do the things you love.
It's an exercise to save money and time. If you're going to reduce your staff in the future, it means you can choose a property that better meets your needs as you age. Rather than having to deal with stairs, limited accessibility, or a huge garden that requires maintenance, you can choose a property that works for you. Unless you have the money to buy your new home directly, the reduction in staff may not be worth it financially. Mortgage rates have risen by more than 2.5 percentage points since the beginning of the year, and financing a home purchase is now significantly more expensive than it was a few months ago. It's safe to say that homeowners don't usually daydream about buying a smaller home.
But minimal maintenance is definitely an advantage of not living in a big way. After all, the time and money you used to spend on cleaning and maintenance can now be spent on fun things. That's why some people see downsizing as a step forward, not a step backwards. If you think there's less space, you're not alone. After all, an adult who usually goes to college isn't too close, but what about a son or daughter (or even another family member) who might need to move home for other reasons? Would you like to share a bedroom and bathroom with them? When looking for a new home, make sure it meets your physical and emotional needs, as well as your financial needs. Just because you can find a bargain doesn't mean the house is worth it.
After all, if you're going to make the effort to move, you have to do it right. If done right, reducing staff may still be a good idea. Not only will you be left with more money, but it may also simplify your life and reduce your home's maintenance and utility costs for years to come. To achieve that happy outcome, you must avoid the unexpected difficulties that make downsizing so risky. Here are four traps that await downsizers, with ways to avoid each of them:
- Eliminate duplicate items.
A simple idea to reduce the size of your home is to eliminate duplicate items. Get rid of excess plates, wall art, baskets and bins, and other unnecessary multiples to focus on the items you really need. Since you'll have less space, choose your favorites and donate, sell or throw away the rest.
- Invite friends over. Inviting your friends over is another great way to reduce the size of your home quickly.
Be sure to review your living expenses to see where you can make adjustments and cuts and determine how you want to use your staff reduction savings.
- Don't downsize if it's not necessary. There's no real need to downsize if you're opposed to the idea, but it can often offer a better quality of life with the money earned from selling.
- Look for opportunities. If you want to be in the same neighborhood or be close to your family, there may not be many opportunities for staff reduction.