Downsizing your home can be stressful and emotionally taxing. These actionable, empowering downsizing tips will help you head on to face the task in a positive light.
Here is what you need to consider:
1. Know the Prices of Today’s Real Estate Market
The process of downsizing as a senior can be both daunting and confusing. At first consideration of selling your home, secure a trusted Realtor. Utilize the expertise of a seasoned Agent to help you thoroughly research the market before deciding to put your home on market. One way in which your Realtor will provide you with knowledgeable information that you can not obtain on your own is by providing you with a Free Home Market Analysis.
Knowing the value of your home and the value of the properties where you are considering a move to will give you a great advantage and save you time and frustration. Researching both markets is your first step - this will give you a realistic insight as to where you would like to purchase your new home and help to determine where you would like to live. Once again - your Agent is your best resource when it comes to checking the market values and providing a stress free transaction of selling your current home and or purchasing a new one. In addition - Keep in mind that many of today's housing options offer welcomed perks you would have not considered 25 years ago.
2. Consider How Much Upkeep You Want in a Home
Take into consideration that though you are down sizing your monthly payment may go up or you may now have a monthly payment where you had none before seeing you were mortgage free. Added monthly payments are incurred or increase due to maintenance and management fees.
Meaning: Consider taking advantage of the fact that many housing communities offer inclusive services such as lawn maintenance etc. Yes, there is an added fee, but retiring means you want a location that will do the work for you! Isn't this why your are moving on to a more leisurely, stress free lifestyle in the first place?
Your Real Estate Agent is your best resource to help you find the inclusive options that are right for you. After all, there is a great variation in monthly fees and she will be your best resource for determining which suits your needs.
3. The Real Estate Market Changes By Location
Why does it seem retirees in their 60's and 70's move to Florida or the Carolinas?
Here is why:
Big city living, downsizing is synonymous with leaving the big city. Why? Bigger the city, less livable space you have - making it unlikely you will downsize to an even smaller home option. So in big cities like Boston, “downsizing” means moving to a space of relatively the same size but in a different locations with many more benefits.
Logistically some retirees find it difficult to qualifying in order purchase a new home due their retired status (unemployed) making the moving process more difficult. This contributing factor coaxes seniors to find a more viable housing locations, giving more bang for your buck, the moving process easier, and leaves one in a beautiful, relaxing location.
Most importantly* YOU need to know if you have on hand funds in order to make an offer - waiting on the funds from a closing is not always a feasible option. If you do not have these means, you may not be ready to make a move just yet.
4. Free Yourself! - Declutter as Much as You Can
Moving is a great opportunity to keep the belongings that mean the most to you, preserving those memories that truly mean the most and gives you permission to free yourself of the rest.
Decluttering can feel a bit overwhelming, the key to success is a little organization and taking one step at a time. Look how long it takes us to obtain all these possessions - we can not expect to filter through them in all a day.
Any professional organizer will tell you - Only keep the things that truly and completely spark joy. Putting something in the “maybe” pile, lends to a “no.” Opening space in your physical life opens both head and heart space for the things that matter most. The more you own the more you need to care and provide for - FREE YOURSELF!
Holding nostalgia in our hearts is important and necessary. Should you find yourself resistant to let go of your salt and pepper shaker collection, but realize there is simply no room - take photos. If an item no longer serves you - share the love by passing it on to a loved one, friend or neighbor who will enjoy it just as much as you always have. Video tour your home, preserving its memories inside and out.