Downsizing: Learn If It Is Right For You

Downsizing Your Home and Life

Do you think you have too much space in your current home? Do you have rooms you always think about not being used? Have you become an empty nester and just want less house? Does upkeep and maintenance seem like too much anymore?

If you answered yes to some or all of these questions, you may be a candidate for downsizing. Smaller mortgage payments, less cleaning and upkeep, and spending less time dusting those spare rooms may sound like a dream come true. Before you head down the path toward downsizing, here are some tips to ensure your downsizing is right for you.

1. Think Long-Term

If you’re thinking about downsizing your house, planning ahead will help ensure your transition is a success. A common thought is I don’t need all this space. Think ahead though to what future plans you have, do you want that extra space for guests, or a business. Only you know if you can spare that extra space and once it is gone, it is hard to get back, make sure you only give up what makes sense for you.

2. Keep It Functional

As your space shrinks so will the amount of room to store things. Think about how much stuff you have in your house and decide what you need to keep and what you can part with. If you can part with enough, you can downsize! Plus you can sell what you don’t need and take that money for new things or the costs of moving.

3. Consider Hidden Costs

Downsizing may save you money in those monthly mortgage payments, but do not forget about the hidden costs. Think about things like, does your home need any repairs to get it market-ready or your current furniture and appliances, will they fit into the smaller home or do you need to bump up that budget for more space-efficient pieces? Don’t forget to take into account the cost of moving, property taxes, storage, etc.

4. Focus on the Big Picture

You’ve gone through the first three steps, now look at the whole, big picture. While everything above sounds great and doable, take a moment to think about what the decision means for your style of living. Everything is smaller, tighter, less things, make sure you are ready to make the necessary lifestyle changes.

Here at Jump Realty, all of our agents put their customers' needs at the forefront of their work. They’ll give you honest advice on what course of action is best for you in their professional opinion. If you are thinking about downsizing our agents can help you assess your situation and help you sell your current home and get you into the right sized home. All of our agents pride themselves on putting their clients' needs above all else. With offices in Windsor, Tecumseh, Kingsville, and Chatham, no matter where you are a Jump agent is ready to help. Please contact us for any housing needs and let us give you a better real estate experience!