7 Questions To Ask Yourself If You’re Considering Downsizing
Maybe you’ve decided to wait on having kids, you’re an empty-nester, or you just have more square footage than you know what to do with. Regardless of the reason, one question is on your mind: should you move into a smaller home? Before you consider downsizing, there are some questions you should answer to ensure you know what goes into downsizing your lifestyle.
If I downsize, should I build or buy?
While some folks want to buy into a smaller home, others want to build their perfect retirement house. Though buying an existing home offers a lot of conveniences, such as turnkey privileges, constructing an energy-efficient home from the ground up will allow downsizing homeowners to customize to their heart’s desire. If the appeal of personalized floor plans, cost control, and quality construction suits your fancy, it’s time to start hunting for quality house plans. Consider a custom house plan provider like Monster House Plans that allows you to personalize your new home to your downsizing needs. That way, no square foot goes unused.
Can I afford to downsize?
Money will play a significant factor in what kind of downsizing you can do. Without the money to sell your old home and move, you won’t be going anywhere.
If you’re looking at downsizing further in the future, renovations to your home can improve your home’s worth. Buyers love to see renovated features or rooms, paying a higher price for homes with renovated features. That higher price means more money to buy or build your downsized home.
What will I do with my excess stuff?
Though downsizing yields the benefits of increased cash flow, reduced clutter, and utility bills that don’t drop jaws and spike stress levels, one of the inevitable trade-offs of this small-and-mighty lifestyle is less storage space. With fewer rooms, linen closets, and dark corners to cram junk in, you may have to part ways with some of your valuables. Not everything will be able to make the move, so you’ll have to decide what to do with the old stuff you don’t want to keep.
Whether you decide to dispose of it, donate it, or pass it around to friends and family, you’ll need to think about where your belongings will go. For a successful decluttering session, be sure to step into the process with the right mindset. Instead of viewing this household purge as a loss, set your sights on the silver lining and think about how this decluttering will benefit you. From reduced stress to evicted home allergens, there’s much to gain when you lose the clutter.
Once you’ve modified your mindset accordingly, it’s time to tackle the project at hand using the snowball method. While parting with a few items on day 1 of decluttering may be your goal, gradually work your way up to mass purges of knick-knacks gathering dust.
How much space do I need?
The primary purpose of downsizing is to reduce your house care burden. Large homes with gardens, pools or other features that need maintenance can become a chore to tend with age.
By deciding the size of your home before you downsize, you’ll better understand what you want to look for in the market.
Will the location I’m downsizing into work for me?
One of the mantras in real estate is “location, location, location.” So, you should consider the area you want to downsize into before moving out there.
Ensure that the area you want to move to is safe and cost-effective for your budget. You don’t want to spend your golden years fearing for your safety or money.
If you’re still teetering on the fence, keep your eyes peeled for these tell-tale signs that downsizing is right for you.
- You have copious amounts of unused space and rooms with no designated purpose
- Your finances are in a questionable place
- You’re in the thick of a sellers’ market that will ensure a hassle-free sale
Will my lifestyle be affected by downsizing?
In addition to the area’s quality, you want to ensure your new, downsized home suits your needs.
It’s easy to see your house decked out with what you want before moving in if you know what you need ahead of time.
How do I feel about downsizing?
With the number of folks that retire each year going up, downsizing is a hotter topic than in years past.
Thinking about downsizing involves more than just the process. There can be a lot of emotion in moving away from a family home. If you can’t see yourself being happy in a downsized home, then the process of downsizing might not be the right choice for you.
Wrapping up
Downsizing is more than just moving into a smaller home. Before moving, you’ll need to think about the area you want to move into and what you can part with before downsizing. Once you ask these questions, you’ll be better equipped to make the move to a smaller, more energy-efficient home.
