Downsizing can be a very personal and emotional decision. It is a time to reflect back on many memories, but also a time to look forward to new beginnings.
While it usually means cleaning out, cleaning up and making tough decisions about who gets what at what goes where - downsizing does not need to be daunting!
With the right help and a plan tailored to suit your needs, you can make a seamless transition to a new chapter of your life.
Here are the top 5 things to consider when downsizing.
- Family Meeting. Discuss the idea of downsizingwith your family and friends, as well as your advisors including attorneys and accountants. Understand your options and the potential changes to your estate planning and tax implications.
- Rely on a Professional to get you started. Contact a trusted REALTOR® to prepare a Custom Market Analysis (CMA) on your home. A great REALTOR® will give you an insight on the true value of your home (not just what Zillow tells you), potential expenses, the best timeline as well as a comprehensive overview of the market conditions.
- Timing is Everything. Change is hard, procrastinating is easy. Unfortunately many are ultimately forced to move for either health reasons or other personal reasons. It is important to be proactive and understanding the time it can take to downsize - which can be up to two years depending on certain physical, financial and emotional situations.
- Think About Your Next Move. Start your research early in the process. Understand why you are moving - is the maintenance and care of the house too much? If that's the case you may want something with little or no maintenance, such as a condo or townhouse. Do you need everything on one level? Maybe not immediately, but look to the future and decide if you might need a bedroom and bathroom on the main level. Whatever your lifestyle and decision is; take your time and consider all your options.
- Cleaning Out. Packing up a lifetime of memories is often the hardest part of downsizing. A professional stager and organizeris invaluable in helping you prepare your home for sale, as well as knowing where you can donate certain items or the proper place to discard them. When you work with Steve McKenna & The Home Advantage Team, the will cover the costs of a stager in most cases.
If you feel apprehensive about downsizing you're not alone. The good news is, there is help. Steve McKenna & The Home Advantage Team will handle every step of the process and more - providing a smooth transition and ensuring that you well cared for throughout your move.
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