Top 5 tips to take the stress out of downsizing
Downsizing usually occurs when children get to an age where they move away from the family home. Now you have 4 bedrooms, and nobody to stay in them.
Downsizing has many upsides. Selling your large property and buying a smaller one often leads people with little to no mortgage to pay off on their new property. Bills go down as there are fewer rooms to heat, and the welfare of the individual often goes up as there is much less to stress about.
This freedom often comes later in most people's lives and allows people to choose a property that much better suits their lifestyle.
Take a look at the tips below which can help make your downsize a success.
What do you want from your new property? Have you always aspired for a life that is much more remote? Think about moving to a place which would suit those requirements. Not many people have the freedom of choosing where they want to spend the rest of their lives.
Some would state that leisure activities are a priority, so pop yourself near a fishing lake and live the life you have dreamt of.
If it isn’t the lifestyle, then what do you look for in your bricks and mortar? En-suite, thatched roof, or garden big enough for livestock. Make a list of all the things you want, and allow them to become achievable.
2. Get organised
Buying and selling is a very stressful process. Get everything organised and save yourself a lot of stress.
Make a list of jobs that you need to do before you leave your property and a list of jobs that you need to do when you enter the new property. Make sure this list is completed.
An issue most people have is dealing with the paperwork when moving. Not only is it a bright idea to have everything filed and organised, but go digital: Have all of your paperwork photocopied, and backed up onto a hard drive to assure yourself that everything is accounted for.
Going digital can also be attributed to all your old photographs. It can be quite a fun process, immortalising your memories digitally.
Downsizing your home means that you will literally have less space than you ever have before. Decluttering can be a liberating process, even though it may prove daunting at first, the results will feel amazing.
Use this as an opportunity to give away the objects that cannot be brought with you nor sold. Your family will love to receive heirlooms. Any other items can be given to charity, as they will be sold for a good cause.
Alternatively, if you have the time, a good deal of your possessions could be sold, to help fund amenities in the new house.
4. Do the maths
Selling your property and buying a cheaper property may seem like an obvious win-win situation.
But ensure that you have calculated everything properly and that you know what you will be getting. Have you accounted for the estate agents and solicitors fees? Stamp duty, moving fees… this will all eat into the lump sum you were expecting.
What are the running costs of your new property? Account for what council tax band you will be in, how energy efficient it is, and any other costs you will accrue whilst living there.
5. Enjoy yourself
When most of the heavy lifting is out of the way, the paperwork is dealt with, and you have the keys to the new place in your hands... Smile. You’ve made it.
It is easy to over-stress yourself with moving, but taking a moment to revel in your success is a rarity too. This is your opportunity to indulge in those leisure activities you always wanted to do, and free up some money in the process.
We hope these tips will assist you if you are looking to downsize.
Looking to move to a smaller home? Our team will be happy to help.
Feel free to get in touch with us here.