The kids have moved out, and your family home is starting to feel a little too big and empty.
And what’s that peeking around the corner? That’s right. Retirement.
Now, you may be starting to think about downsizing your home.
But first, let’s explore the benefits of downsizing. We’ll also go through some practical tips for decluttering your home and simplifying your lifestyle.
This guide will cover everything you need to know to live with less. So, if you’re ready to take the plunge to a more fulfilling life, let’s get started!
The Benefits of Downsizing Your Home
For most of us living in Vancouver and the Fraser Valley, our home is the single largest purchase we will make in our lifetime.
And we know that selling a large home to move into something smaller can feel overwhelming.
But there are several benefits to downsizing your home. Let’s go through some of them to help you see what you can enjoy when you live with less.
Smaller homes are generally less expensive to buy. You’ll also save on property taxes, insurance, and utility bills.
This means you can have more money to save or spend on other important expenses.
You can finally take that trip to Europe you’ve been dreaming of. You can even use the money to help your children pay for the down payment on their home!
Another benefit of downsizing is the opportunity to declutter your life.
As you move into a smaller space, you’ll be forced to evaluate your possessions. This means you can determine what you truly need and value.
This can be a freeing experience. By downsizing, you’ll no longer be weighed down by excess belongings that don’t bring you joy.
Downsizing can also have a positive impact on the environment.
Smaller homes require less energy to heat and cool. This results in a reduced carbon footprint.
Also, by reducing the amount of stuff you own, you’ll be reducing waste and consumption. This means you can contribute to a more sustainable future.
Is It the Right Time to Sell?
After learning about the benefits, you’re probably set on downsizing your home.
But is the current real estate market in your favour?
Currently, more homes are on the market than earlier this year. This is because people have been dropping out of the market since school started.
That means there are fewer buyers and sellers in today’s market. So in many price points, we still don’t have enough homes for sale for the buyers out there.
This makes it a great time to list your home for sale.
Our team of real estate professionals at Dave Masson is ready to help you sell your home. We’ll make it quick and easy so you can move on and start looking for your retirement home. (We can help with that, too!)
How to Declutter Your Living Space
Decluttering your living space is the first step towards downsizing and living with less. With a few simple tips, you can transform your cluttered home into a minimalist haven.
- Set a goal. Decide how much you want to declutter. Then, create a plan of action. Start with one room at a time and break down the process into smaller tasks. This will make the process less daunting and more manageable.
- Sort your belongings. You only need three categories: keep, donate, and discard. Be honest with yourself and only keep items you genuinely need or bring you joy. For items that are still in good condition but no longer serve a purpose, consider donating them to a local charity or thrift store.
- Sell the items you don’t need. Discard the things you no longer need or want. This can be a difficult process, but remember that these items are taking up valuable space in your home and life. You can sell items online or have a garage sale for extra cash.
As you declutter, be mindful of your future purchases. Only buy the items you need and which will add value to your life.
By decluttering and living with less, you’ll have more time, money, and energy to focus on the things that truly matter.
Creative Storage Solutions for Small Spaces
Living in a small space can be a challenge, especially when it comes to storage. But don’t worry! There are plenty of creative storage solutions that can help you make the most of your space.
- Vertical storage. Take advantage of the space on your walls by installing shelves and hooks. You can also use hanging organizers for shoes, jewelry, and accessories.
- Multi-functional furniture. For example, a coffee table with built-in storage can store books, magazines, and other items. A bed with built-in drawers can also provide extra storage space for clothing and other items.
- Smart kitchen storage. If you have a small kitchen, consider using a rolling cart for extra counter space and storage. You can also use magnetic strips to store knives and other metal utensils on the wall. This also frees up drawer space.
- Under-bed storage. You can use storage containers or bags to store clothing, linens, and other items under your bed. This keeps them out of sight but easily accessible when you need them.
With these creative storage solutions, you can make the most of your small space and live with less clutter.
Looking for Your Retirement Home
With that said, if you’re looking to get into your dream retirement home, there are three things for you to keep in mind:
- Don’t make any improvements to your existing home if it doesn’t raise its value. We can help you determine which improvements will be most beneficial to you. Our job is to help you save money on your home purchase and make money on your home sale.
- Expand your search. Some agents, including ourselves, have lists of homes that are not on the market yet. The homeowners are open to the right offer, but they don’t want to go through the hassle of getting the property on the MLS.
- Consider a new development. Buying into a new development can be a favourable option for downsizing. A new home often takes anywhere between 6 and 24 months to complete. This will give you ample time to prepare and eliminate the added stress of downsizing.
Downsizing Your Home
There are lots of things to consider when contemplating a downsize. So, take your time and have a hard look at what really matters to you.
It may seem overwhelming at first. But it can be a liberating and fulfilling experience.
By simplifying your life and living with less, you can focus on what truly matters. You can also find new ways to enjoy your time, space, and resources.
So take a deep breath, start small, and embrace the possibilities of a more minimalist lifestyle.
Who knows? You might just discover a whole new world of happiness and contentment!
If you have any questions about the current market and if downsizing your home is the right option, please get in touch with us.
For more useful information on becoming an educated seller in today’s market, contact me for a free copy of my Becoming an Informed Home Seller guide.