The Art of Downsizing
At some point in the property journey most of us look around to realise our current property no longer fulfils our needs.
That expansive yard might require too much upkeep, those additional bedrooms might no longer be needed, or perhaps a low-maintenance lock-and-go lifestyle better reflects the future travel adventures we have in mind.
So how do you go about downsizing, and what do you need to know? Because there is an art to downsizing along with some strategies to ensure it goes smoothly.
Where to from here?
If downsizing is something you’re considering, it’s important to be very clear about what you hope to gain from a future property.
As with any property search, you should make a list of the features you want, dividing them into categories of ‘non-negotiables’ and ‘nice to haves’.
Down-sizing non-negotiables will vary depending on your personal circumstances, but could include things like:
- Single level living
- Low maintenance
- Extra wide hallways to accommodate future mobility
- No step-ups in the bathrooms or external entertaining areas
- Guest room for extended family
Nice to haves might include:
- A garden
- Proximity to shops and medical facilities
- Additional security features for that lock and go lifestyle
The key here is to be clear on the needs you currently have, the requirements you are likely to have in the future, and the features that will facilitate your next stage of life.
Preparing your current home for sale
If you’re downsizing, chances are you are also looking to sell your current home, and that may take a little preparation.
We have a great guide on preparing your home for sale here, but in the interim there might be a need for a few repairs or a spruce up to ensure your home achieves maximum sale price.
You will also need to tend to those little things like de-cluttering and ensure the property has street appeal.
Meanwhile the price you get for your current home could determine your budget for the property you want to downsize to.
The top tip here is to call in your preferred agent early to speak with them about your future aims and to gain an appraisal of your current property’s worth.
A good agent can make the downsizing transition much simpler by working with you to present your home well, while also helping you meet your required downsizing timeframe.
Between here and there
As the property you currently reside in is likely larger than the one you intend to downsize to, chances are you will need to relinquish items like extra furniture, surplus linen, and other items you no longer require.
This is a process that can take time, and for some it may be emotionally taxing. The good news is there are services that can assist in this process, while the de-cluttering that’s often required as part of the selling process can also help you pare back.
How we can assist
At Eview our agents understand selling a property is about achieving your goals, and we’re here to listen and work with you.
If downsizing is something you’re looking to do, we’d love to assist. You can contact us here for an appraisal of your current property and also to discuss the features you’re looking for in your next home.