When you’re just starting out as an adult, you likely long for the day when you will have enough money to purchase your dream home. Maybe it has five bedrooms, a gourmet kitchen, full basement with room for a pool table—and speaking of pool, how about a place to take a dip out back? Some of us may have the good fortune of being able to afford our dream homes—or close to it. But at certain stages of life, it makes sense to downsize. If your kids have recently left the nest and you no longer need all that space, if you’re retiring and you want to save money—or perhaps if the big house is no longer feasible for you to maintain: these are all cases in which downsizing your home would likely work to your benefit.
Downsizing your home may seem like a daunting task. While your wallet will likely be less lean in a smaller space, prior to the moving process you have to figure out what you will do with all of your things that you have accumulated over the years that will not fit in your new home. Perhaps your downsize is due to the fact that living in a smaller space could put you closer to work or in the neighborhood you have always longed to live in. You also have to think about your lifestyle and how it will change, considering your downsize comes at a transitory time in life.
If you are downsizing your home this year, consider these tips.
- Take inventory of your belongings. Before downsizing your home, evaluate what it is that you already have—and of that inventory, what you will be taking with you. Since space is limited, you need to only bring items that are important to you or that you can see serving a functional purpose in your new space. Other items, such as a large bulky couch, could be ones that you downsize along with your living space. Divide up your belongings into “take,” “sell,” and “donate or replace,” and let that be your guide.
- Have a yard sale. Downsizing can have its upsides—such as making money off of the items that you no longer need or have room for. Collect your unwanted stuff, and organize a yard sale. Or, sell individual items via online yard sales or sites like eBay and Craigslist. The money that you make can help you replace too-large items, or you can put it away for a rainy day. To decide what to sell, ask yourself this: “Is this item’s purpose worth more than the money I could make off of it?”
- Evaluate your lifestyle needs. As you are downsizing your home, your lifestyle is likely changing to some degree. If you are retiring and moving out of the home in which you raised your children, then you may no longer need a TV in each room, a ping pong table or a six-seater kitchen table. If it is critical for you in your new space to be able to spend time on hobbies, for example, then make sure you plan accordingly. This may involve sacrificing other items to allow for the needs of your lifestyle in your smaller home.
- Use storage opportunities to your full advantage. Once you do move into your new home, get creative when it comes to fashioning storage opportunities. If it is a smaller home, it may not have a ton of storage closets and shelves by nature. But you can use things like ottomans with storage space inside, under-the-bed drawers or additional wall-mounted shelving to make room for your stuff. Don’t go crazy stacking things from floor to ceiling, but if you can come up with storage solutions that keep items off the floor and out of your way, then you will likely enjoy your living space more.
- Make sure every space has a purpose. In a smaller home, it is important to make sure you are making the best use of space. If you have an unused corner and have a box of books that you don’t know what to do with, build some shelving and turn it into a reading nook. If you never use your kitchen table and need a place to permanently store your computer, then transform your breakfast area into your office. There are no rules as long as you can make it work for you.
- Limit what you bring in post-move. Be critical of every item that comes into your home to potentially stay after you get set up in your smaller space. Make sure it is either important to you—or that it serves a purpose—in order to avoid accumulating unnecessary clutter. Before purchasing or accepting an item, think about where it will fit into your home both physically, and in terms of your lifestyle.
Downsizing your home can be an emotional process as you go through the items you have held onto all those years, but it can also be therapeutic and help you start out a new chapter of life with a clean slate. Embrace the change, and look forward to making your new house a home!
For your real estate needs in the Auburn, Opelika and Lake Martin areas, contact Realtor Ryan Roberts today at 334-750-9872, or email [email protected]!