There are many reasons why someone might downsizing their living situation. Maybe your kids are moved out and you simply need less space; perhaps you’re looking for less home to maintain; maybe you’re going from living in a suburban setting to a city setting.
No matter why you may be downsizing, here are a few important questions to ask yourself when you’re downsizing homes:
How do you know if it’s time to downsize?
Are you finding yourself getting tired of taking care of a huge yard? Are there rooms in your home that aren’t being used? If you’re answering “yes” to either of these, those are some obvious indicators that it might be time to find a smaller home! If you’re also going through a transition time (getting older, having children move out, moving locations), this is another time when many people decide that downsizing is the right choice for them.
Will downsizing suite your lifestyle?
Do you often have guests over and make use of that extra bedroom? Do you love spending time gardening outside in your huge yard? Do you always host your huge family at your home over the holidays? If you have a smaller home, you may not be able to do these things as often or in the same way anymore. Consider how important these things are to you, and if you’ll miss having that huge garden or hosting events.
Do you need to downsize for financial reasons?
Many people downsize when they retire not only because they need less space, but because they don’t have as much money to spend on housing. Do you need to make some money on the sale of your current home? Considering your financial situation may ultimately determine whether or not you downsize.
Are you ready to get rid of some stuff?
Possibly the hardest part of downsizing homes is downsizing the stuff you own! It can be a big endeavor to get rid of things (especially if there’s storage boxes in your attic you haven’t looked at for awhile), but it’s an endeavor that’s totally worth it. Consider what furniture you’ll need to get rid of, and exactly how much storage space you’ll need. Or if you already have a specific home in mind to purchase, that will determine how much you can keep and whether or not you’ll need to rent a storage unit.
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