3 Big Mistakes To Avoid When Downsizing

I see many clients preparing for various life transitions such as a new baby, loss of a loved one or downsizing to a smaller, smart-sized home.

It sounds easy to do but without proper planning you can find yourself in no better shape than when you decided to downsize in the first place. My husband and I have started to have just this conversation with the intent on being really prepared when the time comes. With my experience in this industry I would like share the three biggest mistakes that I see happen when people downsize their homes.

Having enough space

Make sure you give yourself enough space. Many people will downsize and after they have moved realize that perhaps they have gone too far in giving up space. Moving from a 2,000 square foot house to a 700 square foot condo may sound like the thing to do – easy to get around, less to clean, lower taxes perhaps – but did you give yourself enough space?

If you are still going to entertain often maybe you won’t have enough space for you and your guests to be comfortable. Do you need a separate bedroom for family and other guests? Are you going to run a business out of your home?

If so you will probably require an office which requires a separate room thus more space. Let’s face it, some of us need time away from our spouse now and again and thus may need a separate room or den to get away to watch our own TV programs or to read a book quietly.

Do your research

Many people downsizing will end up moving to another community to change their lifestyle or to take advantage of housing markets to pad their savings. Do plenty of research. Do you want an adult style community or family friendly? What amenities are required of you to be nearby? What is the maximum distance you are willing to travel to see family?

If you like a specific area but are not 100% convinced it is the right area why not rent there first to see if it is the ideal place for you.

Let non-essentials go

Probably the hardest part about downsizing is going through your possessions to determine what goes with you, what is given away or sold and what is donated or tossed. Life’s possessions become invaluable to us and unfortunately in most cases, only us. We all have items that are also important to family members but most of our “stuff” will sadly be disposed of after we are gone. Take a good, hard look at what you have and determine whether you really need to take it with you or deal with its disposition now.

Downsizing and moving on to another phase of your life doesn’t have to be a stressful time if you plan everything out. If this all seems a bit overwhelming and stressful, contact us and we will take the stress out of your next transition.