Downsizing Your Home: Here’s What You Should Know

For many homeowners, the idea of downsizing can be frightening — and for a good reason. With the rising costs of real estate and mortgages that require a larger down payment, buying a home is getting more expensive every year. 

Once you accept that you’re not going to upgrade your home in the near future, the next question is how to go about downsizing. Depending on your lifestyle and budget, there are several different ways to downsize your home. Here is how you can go about it.

Downsizing Is Not the Same Thing as Moving

Many people think of moving when they hear “downsizing,” but in truth, several types of moving involve downsizing — including buying a condo. “Moving” is one of the most common forms of downsizing, but it doesn’t necessarily mean you have to change your address or zip code.

In fact, many homeowners simply decide to move to a new area within their existing home state. This can allow them to maintain the same lifestyle and save on mortgage cost and home maintenance.

It Doesn’t Have to Mean Losing All Your Stuff

Many people dread downsizing because they imagine having to completely throw out all their stuff and start from scratch, which can be a very expensive ordeal at times (especially if you need professional help). However, if you don’t want to do that, there are other ways to downsize without destroying your home.

Most homeowners choose not only to sell some items on their own but also use services to buy items by consignment or make offers based on purchases made by others to keep some things around while selling others off. There are several ways you can downsize in your life.

It’s A Great Way to Add Value

One of the best ways to get started downshifting is by looking at your possessions and seeing if you need something. If you don’t, then look for other options. If you need something, look for ways to adapt and use it the next time.

For example, instead of going out and buying a new coffee maker every year or so, try brewing coffee in your French press instead of your coffee maker. Instead of ordering food from your favorite restaurant once a week, consider making it in recipes so you can control what goes into it. 

When downsizing, you will need to clean the home, the surfaces, as well as using the correct cushion cleaning and storage methods. This will help you to reduce the clutter in the home.

​Moving Can Sometimes Be Cheaper Than Buying

If you’re planning to move but don’t want to pay for a move-out cleaning service, you could make the most of your time and money by storing your things while you are gone.

If you have a family, it can make sense to even have someone else take care of this process. This saves money on actual moving costs and helps eliminate the hassle of trash removal, storage, or packing in general.

Conclusion

​When you imagine a new home, it can be tempting to picture yourself living there. But your home is more than just an architectural backdrop for your life. Your home is also an investment: a place where you will live, grow old, and pass down traditions to future generations. 

If you’re looking to affordably break even, downsizing your home might be your answer.