Have you or your loved ones thought about downsizing in the next few months? It can be an emotional topic. No one ever feels quite ready to leave their home. Even if you’re happy and looking forward to your next step, the process of preparing can feel wearisome. There are likely many questions spinning in your head. Where do you even begin? When should you start the process, and where should you go next? This guide will take you through the process so that it feels much less overwhelming, maybe even a little fun.
A Joyful Move Begins With A Plan
The best time to start planning to downsize is before you need to. If you get organized now, you’ll be calling the shots. If you wait too long, you may find that plans often get made without your input. Hopefully, these decisions will be made by a loved one with your best interest at heart. However, they may not fully understand what you want or need.
Whatever your goals, advanced planning opens up a lot more options for you when the time does come. It helps you take advantage of the best market conditions possible when selling and buying your new home. If your plan is to move to an independent living residence, you can get on a waiting list for the most desirable facilities. It’s a good idea to visit some residences ahead of time so you can get an idea of what life would look like. There’s no obligation to buy in right now, but it helps to know what’s available.
Should you even think about downsizing while the market is changing? Find out our thoughts on the subject right here.
When Should You Downsize?
Many seniors want to stay in their homes for as long as possible. Your wishes should always be respected so long as you can live safely, emotionally and physically. You may have the timeline mapped out already. If your friends have moved away, you may feel lonely or isolated. In that case, a change in scenery could be the best thing for you. A new environment allows you to be social and explore new surroundings.
Where Will You Go?
This question can be a tough one to answer. Many seniors can feel torn because they still want to experience so much more of what life has to offer. Downsizing often feels negative. If so, a change in your approach may help you feel excited about your move. A real estate agent who works extensively with seniors may be able to offer suggestions to make your change a happy one.
Do you want to stay close to your family or in the city, where you already know the neighbourhood? Downsizing nearby requires less of an adjustment and keeps you close to your loved ones. Plus, you won’t have to change doctors, dentists or other providers.
Or do you want a fresh start by moving far away from it all and only coming back on holidays? Some creative brainstorming with your loved ones might help you uncover the perfect solution.
Need some advice on whether to buy or sell during these current market conditions? Here are some resources that might help:
What Type Of Downsizer Are You?
Everyone has a different situation and a different idea of what downsizing means. At its most extreme, you could be selling a sprawling family home to move to a one-bedroom condo. You could also choose a smaller house in a quieter area or a townhouse that still has a backyard for entertaining.
Or you could choose a tiny condo to live in a few months out of the year while spending most of your time down south. In that case, maybe a relative can set you up with an in-law suite after selling your house.
The Practical Aspect Of Downsizing
Once you’ve laid the groundwork, the next step is to handle the practical aspects of selling your house. No matter what your plans are for the future, a successful sale will help fund your retirement dreams. It all starts with cleaning and decluttering your home to create an impactful first impression on potential buyers.
Of course, decluttering is the last thing anyone wants to do. It feels overwhelming, and many people have trouble parting with their belongings. However, when downsizing, you want to decide very carefully what you will bring to your new home.
A few treasured belongings will make your new surroundings feel more like home.
Everything else should be donated, recycled or thrown out.
Decluttering: How Do You Decide What To Part With?
It can be tempting to think you’re going to need or want far more than you actually will. More often than not, people end up carting piles of old belongings to the new house and then never even open the boxes.
Be as ruthless as you can when throwing items away! Ask yourself these questions:
- Will I ever miss this so much that I would pay money to replace it?
- Would I ever spend time searching for it if I lost it?
- If someone threw this away when I wasn’t looking, would I even notice?
If you answer “no” to any of those questions, it’s time to say goodbye. You can give the item to a family member, sell it, donate it or toss it!
The more you eliminate now, the less work you will have to do later.
One of the advantages of decluttering early is that you can take your time with anything you’re on the fence about.
If you’re worried you’re going to need an item, pack it away out of sight. If you don’t miss it months later, you probably don’t need it. You may find yourself opening the box and saying, “I forgot about this,” or even, “What is this?” If that happens, you don’t need it!
Decluttering is good for your soul even if you’re not moving right away. Your house feels cleaner and brighter, and you’ll feel less stress with fewer items lying about.
Still Hate The Thought Of Decluttering?
ThompsonSells has worked with numerous seniors to help ease the process of downsizing. Decluttering is only one of the many services we provide. We do this every day. What might take you four months will take us about four days, and your home will look beautiful and show ready before you know it.
Read what just a few of our past clients have had to say:
“After working with Jody and Janet a few years ago, we reached out again when we decided to sell our Etobicoke home and look for a family home outside of the city. We couldn’t be happier with the care and service we received at every step of the process. Our home was decluttered, cleaned, and staged beautifully (a complimentary service that I’m sure a lot of realtors charge for) and sold very quickly.” – Wanda Matijczak, Seller
“This summer, we had to list our house rather suddenly and needed to close as quickly as possible. Not only did Jody wisely recommend and arrange for an inspection, his lovely wife Janet staged our home beautifully as well. The presentation and marketing were fabulous. Jody sold our home in record time for a record price, above and beyond our expectations.” – Sara & John MacDonald, Seller
“I am so glad that I chose the team at ThompsonSells! Their guidance and help made the process as painless as possible. Their level of professionalism and included services made for a quick and easy sale. While the news was reporting a drop of 21% in volume and a 12% drop in house prices in the GTA, we set a record for comparable houses on our street. And resulted in the sale of our home for 109% of asking in 6 hours!” – Andy McJannett, Seller
“ThompsonSells provided support along with care and compassion during the sale of my aunt’s home. From preparing the house and staging to creating a beautiful listing, they created a very attractive package. They were able to sell the home quickly, and their support after the sale was second to none.” – Carolyn Rankel-Ellis, Seller
Want to know more about how ThompsonSells helps seniors and downsizers? Read more about our process or reach out to us right here.
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