By: Dina Akilov

Five Things You Need To Know When Downsizing

Tags: Downsizing in the GTA, tips and tricks, gta real estate

If you are at a certain stage in your life where you consider downsizing, you are probably concerned and excited at the same time to enter a new chapter of your life. People downsize for various reasons, and whether it is retirement, divorce, medical or financial reasons, downsizers need to make sure to find a home that will fit their new needs and the lifestyle they want to pursue. While downsizing comes with many benefits like fewer expenses and a simpler way of life, it still requires detailed planning ahead. Here are some tips that can be a good starting point to help you with your transition. 

 

Make location a priority

You may had to compromise on certain things in the past like location because you needed a big home for your family, and you traded a coveted address for more space, but now that you are downsizing you will be able to make location your priority. Location is one of the most important things for homebuyers anyways, so make sure it meets all your current and future needs. Look for a neighbourhood that offers plenty of amenities within walking distance, like stores, a nice park, public transit, etc., so you can enjoy all the conveniences that come with a great location.  

 

Downsizing home also means downsizing your belongings

Since you are going to move into a smaller place, you will probably not be able to take all of your stuff with you. However, this is not supposed to bring you down as it is the perfect opportunity to get rid of the clutter you have been holding on for years. Adopting a clutter-free lifestyle can feel extremely liberating, so make sure to have your list of must-keeps ready before the move. 


Designate space in your new home for the things you are taking with you

As already mentioned, you won't be able to bring all your belongings with you, but for the ones you are, you need to know in advance if they are a good fit for your downsized home, especially when it comes to furniture. Take exact measures, figure out which furniture pieces would complement the new space and leave the ones behind that would just cram your new home. 

 

Go for a home that meets your future needs 

The majority of downsizers are retired people, and if you are one of them, make sure your new downsized home is highly accommodating of your changing needs. You need a practical and functional living space where you will be able to move around freely. For example, an entryway with stairs or a two-story house can become tedious with time and limit you in certain ways, so make sure to consider things such as one-level homes, a highly accessible entryway and simple layouts.

 

 Downsizing lowers living costs

One of the best perks of downsizing is that homeownership costs shrink tremendously given that a smaller place means automatically lower maintenance costs, lower utility bills, home insurance, mortgage, etc. You will get to save lots of money, plus, there will be less work around the house, which means you will not spend as much time on cleaning and house chores as you used to. You will have more quality time to yourself which you can use to pursue your hobbies, spend more time with family or friends, take nice long walks or anything else you enjoy. 

 

Downsizing is a great way to adopt a simpler and more organized lifestyle, and if you are ready to make the big move, make sure to contact me here.