29 May Do’s and Don’ts of Downsizing Your Home
The kids are grown, out of the house, and maybe even having kids of their own now. The home you’ve had for a couple decades has served you well, but suddenly it’s a bit big for what you need. When you’re still working and healthy, it might be the right time to consider downsizing to a smaller home and a simpler life.
If you’re downsizing or helping a loved one to do so, know that you’re not the only one who feels a bit intimidated. Here are a few do’s and don’ts to help make the process a positive experience.
Don’t set an unrealistic timeline.
Just as you wouldn’t want to rush into buying your first house, take your time finding the right home and downsizing your belongings effectively. If you think the process will take two weeks then you are sorely mistaken. A solid timeline to stick with is about eight weeks.
Do seek help from people who know what they’re doing.
As the senior population grows, so does the industry for professionals who specialize in helping them – whether it’s in real estate, health care or organizations.
Don’t assume your housing options are limited.
Whether you’re looking for a 55-and-up community or you’re looking to go into assisted living, be sure you choose a place that meets your needs. Look for a place you’ll be comfortable and happy living.
Do consider your financing options.
Taking out a mortgage later in life may not sound like a great idea, but it may be the only way to move into the right space for you.
Don’t put anything in storage.
The entire point of downsizing is to have less, not simply hide it somewhere else. Renting a storage unit will only move your problem of owning too many things. A storage unit will keep your costs up as well.
Do know what you own before you throw it away.
You’re making the right move by deciding to forego the storage unit, but don’t toss everything into a dumpster right away. It’s possible some of the items you’ve held onto for decades have increased in value over time.
Don’t think of this as your last move.
Moving to a community geared toward older adults or a senior care facility may seem like a natural final step for you, but it’s possible you’ll make another move sometime down the road.
Core Properties will buy your current home as-is for cash. We take all of the work out of selling your home and pay cash fast.