We understand your home is a special place where you have created many years of memories. We also know that sentiment is a huge reason why people linger in homes long past when they are ready for a smaller place. If you find yourself on that side of the spectrum and are now considering downsizing then you are in the right place. In this article, we’ll discover what you should look for when downsizing before pulling the trigger on the move.
Is downsizing a good idea?
The possibility (and benefits) of moving to a smaller home will certainly look different for each person, but there are a few key pieces of the puzzle that should fit across the board.
It’s worth considering that downsizing opens up new opportunities for where you can live. If there’s a certain part of town that you’ve always loved to visit, downsizing may be your chance to become a resident! Also, smaller homes have less upkeep and take less time to clean which, in turn, frees up time in your day. And last but not least, by downsizing, you’ll be freeing up home expenses to spend elsewhere. Vacations, a second home, investments, or that boat you’ve always wanted. Downsizing is a great way to free up your budget and really enjoy life!
Of course, there are some negatives to downsizing as well. It’s important to weigh both the pros and cons of downsizing, from the financial gains to losing the guest bedrooms and entertaining space.
When should you downsize?
A big motivation to downsize is financial. It can be either simply to save money, or if you find yourself financially drowning in your current arrangement. A typical housing spending allotment is 30% of your income, if your housing cost is taking up more than that it could be putting too much financial stress on you and your family.
Maybe you just have too much house than is practical. If you have unused rooms, they are taking up time with cleaning, also wasting money with property tax, and maintenance.
And then there is planning for the future. Time takes its toll on all of us. Eventually, the landscaping for your yard and general maintenance of your house gets to be more and more of a pain, literally. Moving into a smaller or easier to manage housing arrangement before things get unmanageable could be a wise move.
If you are heading into retirement, moving into a smaller, less financially straining home is a good way to make your retirement years that much more rewarding.
How do I prepare for downsizing?
Sit down with your household and make a downsizing list of the things you must take with you to your new home, and things that you no longer need. You can donate the things you no longer need, or have a yard sale and set the profit aside to go towards moving costs. If there are items that you cannot part with but are not practical in your new home, a storage unit may be a good option.
Create a downsizing plan where everyone in the household knows the plan and the benefits of downsizing that will keep you all motivated for your next move!
Are you considering downsizing to a smaller home but don’t want to lose the personal refuge you’ve had over the years? We would love to introduce you to a few homes in the Sacramento County Area that may be your new private paradise. Contact Team Lund today and let’s chat or message us over on Facebook or Instagram with any questions!