Downsizing is great for those who’ve become an empty nester or just prefer to live in a lower maintenance property. Living in a smaller place means more free time, less clutter, and of course less cost. But like every big move in life, downsizing is a demanding process and if not done correctly can be more stressful than liberating.
We all learn from mistakes, but mistakes in real estate can cost money, so it’s better to avoid them! How?
To help you when downsizing your home, here’s a list of tips and things to avoid from the expert team at Atria Real Estate.
Downsizing your home: tips to follow and mistakes to avoid
Get in the right mindset.
People can downsize at any stage of life and for different reasons. Some reach a certain age and want to downsize to have a new lifestyle and more free time, while others may want to reduce their expenses.
Whatever is your reason, get in the right mindset to make it happen and focus on:
1. What you want from your existing and new property.
2. What sort of lifestyle you want to achieve.
When downsizing your home, the right attitude is crucial for an effective outcome. So ensure that you are at the right stage of life to do it, and that you’re committed to making it happen.
Consider your new lifestyle.
You may have decided to downsize to join your recently married children somewhere a few hours away from your current city or suburb. That’s great!
If so, consider carefully what your new suburb offers! If you are losing access to your usual entertainment or socialising events, your life in the new place will be less enjoyable.
Make a list of activities that make you happy in your current place like theatre, gym, restaurants, cafes, and ensure that you can replicate those in the new location. If you want to have an idea of what life will be like in the new location, rent a property temporarily and live there for a few months so you can have a better idea before deciding on a property to buy.
Decluttering: the timeless dilemma!
When moving to a new location and a smaller place, decluttering is a must. Consider what will fit into your new place and your new lifestyle.
We know it’s hard to part away from things that you are emotionally attached to, but storing things that you may never need will only add more stress and costs to the process.
Consider all the costs.
Selling your current place will incur a cost; like professional cleaning, maintenance, or styling your home for prospective buyers. Remember, to consider future costs too, like body corporate fees or buying more appropriate furniture for your new place.
Downsizing your home may feel overwhelming but doesn’t have to be. An experienced real estate agent can help you throughout the process by giving you expert advice, making the process less stressful and help you score a great sale price for your current home.
At Atria we have more than twenty years of experience in the real estate market and we can help you with your downsizing goals.
Call us on 03 8680 9421 or visit our Bay Street office for a chat.