How to Handle the Downsizing Dilemma

Whether the kids have all left the home and there’s just too much space or you’re getting older and can’t keep up with the maintenance of a large home, there are a variety of reasons to downsize into a smaller property. The thought of moving can sometimes be stressful, and the idea of having to sell a home while also getting rid of possessions can be enough to make anyone feel overwhelmed. However, the act of downsizing will not only reduce one’s monthly overhead but can also result in a nice paycheck from the sale.

Financial Matters

Downsizing into a smaller home means that you have the opportunity to cash out of your current home with the hope of purchasing a cheaper option, so the more money the home sells for, the better position you’ll be in. While it might be tempting to take the first offer that comes along in an effort to get the process over with, low ball offers on the current home won’t result in an ideal situation.

Instead, work with an experienced real estate agent to make sure the home is priced appropriately and that a decent profit will be made. It might take some creative marketing and a bit of patience, but getting what the home is worth will allow for your new home purchase to be a little less stressful.

Dealing With Decluttering

One of the most challenging parts of downsizing has to do with all of the possessions that are currently in the home. Not only do keepsakes and special items pile up over the years, but there’s a chance that each room in the home is fully furnished and there just won’t be space to bring everything over to a new, smaller home.

Before even putting your Girdwood home on the market, it’s a good idea to go through each room in the house and assess every object in it. While it sounds tedious, after a room or two your family will most likely get the hang of it. Items can be separated into piles that designate donations, items to sell, or items that are going to the next home.

Not only will this work help when it comes time to finally move, but decluttering allows for the home to feel more open and airy, which can be attractive to potential buyers. An uncluttered home tends to photograph well and many times will help the property to sell more quickly.

Home Downsizing Preparation Timeline

Homeowners who know they'll be moving into a smaller home sometime in the next few years should start downsizing as soon as possible. In the year before the move, the homeowner can start going through seasonal belongings as they're used, to decide what to keep and what to give away. For example, when the homeowner gets out their sweaters for the winter, this is a good time to give away sweaters that are no longer used.

Six months before the move, the homeowner should start selling or giving away large pieces of furniture that will no longer be used. Two or three months before the move, this is a good time to eliminate clutter from the home. Starting well in advance helps ensure that the work is done when it's time to relocate.

Taking Your Time

Downsizing for retirement purposes or just to be more practical is a tall task that can be broken down into simple pieces in an effort to reduce your overall stress load. Finding a trusted real estate agent for both the sale of your current home and purchase of the new one will make things much easier, and a little planning and work ahead of time can aid in the transition.

Remember, moving to a new home is often difficult but also brings excitement and adventure. The thought of lowering monthly bills by downsizing is certainly attractive too.