Image Condos are just one of several options
The big family home is a wonderful thing to possess while the kids are growing up. Once they’ve flown the nest, though, staying in an unnecessarily big property no longer makes sense. Aside from the financial costs, keeping it in good condition can prove to be a very challenging prospect indeed. In truth, downsizing to a smaller property may be the smartest decision you’ll ever make, but only if you complete the transition in a winning style?
Here are 10 top tips to ensure that downsizing opens the door to a brighter future.
#1. Prepare To Sell
Before buying the new home, you’ll want to sell the current one at the very best price available. It only takes a few short weeks to complete the jobs that will upgrade the value and attraction of your current home. Get those elements right before putting it on the market, and you should reach a far better outcome. It may be tempting to take the DIY approach to selling. However, it’s advised that you use a professional agent to secure the very best deal and complete the necessary legal documentation.
Securing the right sale will instantly provide better opportunities as you begin the next chapter. However, you don’t want to be living in temporary accommodation for long, which is why you must get the purchase right too.
Image Sell well to build a platform for success
#2. Buy The Right Property
There are many different factors to consider when buying a new property. Aside from the interior esthetic and dimensions, you want to consider the geographic location as well as the property type. Finding a condo for sale may be one of the best options. You’ll often find that the amenities are fantastic while the property itself will be in good health. At this time, buying a fixer-upper simply isn’t a solution. By choosing a home that needs minimal work completed, you’ll be able to enjoy the next stage of life right away.
Apart from the physical benefits of choosing the right property, you’ll also gain the peace of mind and confidence that you deserve. If that doesn’t provide the platform for a better life, what will?
#3. Get Rid Of The Junk
Before actively moving, you need to accept that the old home doesn’t have the amount of storage or space as the old one. Offering furniture and other items within the old property to the buyer at a discounted price can make life a lot easier. Alternatively, garage sales and online selling can serve a similar purpose. They’ll free you from some of the junk while ensuring that the new property remains uncluttered. If nothing else, this is a great opportunity to start afresh. Staying loyal to unloved goods is futile.
There’s nothing worse than transporting items with you only to realize that you don’t have the space. Being realistic through this part of the process will serve you well.
#4. Focus On Safety
When downsizing to a condo or a home within a multi-unit facility, it’s very easy to assume that everything is safe and secure. While you might not need to pay quite as much attention as with the old home, you must still take the right precautions to prevent break-ins. Perhaps more crucially, you need to consider that neighbors could potentially cause problems for you. Checking the smoke alarms and carbon monoxide detectors is vital. Even if the dangers are minimal, it’s better to be safe than sorry.
Above all else, covering all the bases in this area should lead to far greater peace of mind.
Image A safe home is a happy home.
#5. Make Rooms Feel Big
The fact of the matter is that your smaller property is likely to have smaller rooms. Therefore, it’s vital that you do take the necessary steps to enhance the appearance of space. Light color schemes and good lighting can make a monumental impact. Other steps can include mounting TVs to the walls, using shelving rather than bookcases and finding hidden storage. A brighter room that is blessed with a lot of floor space will seem just as big and welcoming as your old home.
Better still, it’s easier to clean the home when you keep it in this manner. This in itself is a huge incentive for moving.
#6. Stamp Your Personality
Moving to a smaller property needn’t stop you from making the place feel like home. Photos, holiday souvenirs, and sports memorabilia are all great ways to turn a plain home into a place that makes you feel comfortable. The money saved from downsizing can enable you to incorporate advanced tech features. This can include voice-activated devices and projector screens. Aside from the personal benefits, this can turn the property into a cool location for hosting friends for small gatherings.
Enjoying the property with greater results when you’re alone and with loved ones can only be a better outcome than staying in the old property.
#7. Get Involved
When moving into a new home, it can be a little daunting. Whether you’re alone still living with your partner, it always pays to play an active role in the community. If living in a condo, joining the board gives you a voice on future change, which is a huge reward for minimal work. However, even if you just move to a smaller house, the neighborhood watch schemes and community activities are brilliant. Aside from actively making the transition feel smoother, it’ll improve the sense of security too.
When moving into the new home, you aren’t just purchasing a property. You’re buying into a new way of life. Active participation can only help.
Image If you can’t beat them, join them!
#8. Focus On What You Need
It’s not uncommon for family homes to include several rooms that virtually go to waste. Having a smaller property virtually forces you to rethink the way you utilize space. The best way to find a winning formula is to ensure that each area does what it is supposed to do. The bedroom should encourage the best night’s sleep while the kitchen and bathroom should be functional. While the esthetic beauty is still crucial, knowing that your new home is designed to make life easier should be the priority.
On a separate note, having a sofa bed instead of a guest room will have an immensely positive impact, even if the kids do stay on a semi-frequent basis.
#9. Consider Revenue Streams
Depending on the level of downsize, it may be possible to buy another property within the same building or close by. This can open up a wealth of buy-to-let opportunities. Alternatively, short-term lettings through online services can work wonders too. This regular stream of income could be very useful when you eventually reach retirement too. In the meantime, knowing that you have some financial relief virtually secured may allow you to cut down your hours. After decades of hard work, that’s the least you deserve.
It’s not for everyone, but this is certainly an option worth consideration.
#10. Embrace The Savings
One of the best things about downsizing is that it improves your financial situation. You can take this to an entirely new level simply by searching for the best energy bills and embracing green technology. When you do, you’ll have far more money for the luxury purchases. Whether it’s getting a garden jacuzzi for a smaller house or making luxury additions to the living room is up to you. In addition to upgrading the home, you should take this opportunity to enjoy days out and holidays.
Downsizing can unlock the door to a brighter future, but you will lose some of the collateral tied up in assets. Keep some money tucked away for unforeseen situations and you’ll be just fine.