It’s not easy to downsize what is often a lifetime of possessions. It takes time, and it takes hard work. Here are my 5 Steps to Downsizing that I have personally made up after reading many, many articles and talking to many, many people.
• STEP 1: RESEARCH – This is where you call the real estate professional. It’s important you know what you’re going to be paying out for what you purchase, and what is going to be coming back in.
o How Much? How much is my home worth? How much equity do I have?
o How Long? How long will my home take to sell? And when should I list it to ensure I am able to purchase what I wish to purchase?
o What can I do to make it more saleable?
A true, full time, full service real estate professional will be able to give you this information at no cost, and with no obligation.
• STEP 2: DECIDE – This is when the family comes in. If you have kids, they can help you with this decision as it is a big one. Is this really what I want to do? Am I mentally prepared to move to a smaller space, and am I physically ready to make the move?
• STEP 3: MAKE A PLAN – Make a plan and follow the plan. Your chosen real estate professional can help youwith this, as well as your family.
• STEP 4: START THE DOWNSIZING PROCESS – How do you eat an elephant? One bite at a time. And it’s no different with your lifetime of possessions. Give yourself time and give yourself space to get this done bit by bit. Start with one room, one closet – even one drawer.
• STEP 5: PUT YOUR HOME FOR SALE – Eventually it will come to this. As per the plan you set with your family and your real estate professional above, put the home for sale however long before the time you actually wish to move as is acceptable to you. The real estate professional will also come back at this point and give any final tips as to what should be done to have the place merchandized and ready for the open market.
For a free, no obligation market evaluation of the value of your home in today’s market, plus tips on what to do to get your home ready for eventual sale, please call our full time, full service real estate team. This is a big step – make sure you get the right advice and the best service (and ultimately the most money in your pocket).
Other good articles on Downsizing:
Click here for: "The Top 10 Tips for Downsizing"
Click here for information on the new "Catherine Gardens" life lease properties.
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