Think Big, Go Small – When and How to Downsize Your Home

Ever since we were little kids we dreamed of having big houses and fancy cars and living a luxurious life. And then one day, that dream was achieved! But now, homeowners are flipping their thinking switch to the other side, realizing the sad but true fact – with the economic state of the nation and the recession, it can be difficult to afford living the luxurious life. So do you think that it’s time to downsize your home?

How can you be sure? Try asking yourself these questions:

What would the total cost be and how could I budget? Things to consider when thinking of the total cost would be mainly to decide how much you’re actually going to sell your house for. This would include taking into consideration, once again, the economy and potential types of buyers, including those who are currently unemployed, like Gen-X and Gen-Y.

Will My Smaller Home Mean A Smaller Lifestyle? If you’ve been living in a big house your whole life, chances are you’ve become accustomed to living a lavish lifestyle, with everything readily available at your fingertips – recreation, socializing, and dining out. But one of the main reasons that homeowners today are downsizing is because they can’t afford it. Ultimately, your lifestyle may change and it would take a little getting used to. You want to make sure that your new smaller home has activities you can enjoy, so as to not completely deprive yourself of your old habits all together.

Okay, so you’ve thought it over and you realize that downsizing is in fact for you. So now your next question would be, how do I do it? Here are some tips to help you get ready to downsize your home.

Assessment and organization

What do you need and what can you get rid of?
There are things that we can do without and things that are necessities. Go through your things carefully and consider if it something that can be sold and replaced at a cheaper cost and smaller size. Throw out the things you haven’t used for a few years. It may just so happen that after finding something in your attic or basement that you suddenly realize you’ve been trying to find for the past month. Trust me, you haven’t. Get rid of it. Have a yard sale and sell the thing you could do without, but aren’t the type of things you would want to throw away. Start by ransacking the areas of your home that you haven’t been to in a while. The attic or basement would be a good place to start, including places such as your “junk” drawers and bathroom cabinets.

Measure your family and your furniture – is your home new spacious enough?
One problem that many homeowners seem to face when downsizing is ending up with a cramped smaller home by overloading their homes and through careless planning. Remember, we don’t want to compromise on the quality of comfort. There are two things which decide how much space you’ll be left with to move about your home with ease. First, consider the number of family members. If it’s just you and your partner, having a little extra furniture shouldn’t be too harmful, if it’s the right size. If you have a family of four or more, chances are you’re going to have be very careful about how you think this one through. More family members means more necessary furniture, but the more furniture you have the more likely your house is to become cramped. Also consider how your current home is organized, and based on the layout of your new home, how will you organize the furniture there? How much of it will fit and where?

Once you have these basic questions figured out and answered, you’re ready to start preparing to implement the actual plan. Good luck!

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