Top 5 Downsizing Tips
We are here to help you enjoy the benefits of downsizing, while growing your wealth. We understand it can be an emotional process, and help make the process clear and strategic.
Here are some tips to help you get started!
1) Get Mentally and Financially Prepared
Are you moving because you want to engage your time in different activities?
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Is your home too big for your needs? What are your current needs in a home? What does your future home look like?
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Is your current home physically demanding? Does it take you too much effort to get regular chores done? Your home could be physically tasking, or your time could be better spent doing more enjoyable activities.
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Do you still like your location? You likely built roots in your neighbourhood, are you ok with the current demographic? Are young families moving in? Are your hobbies and wellness needs in a comfortable range?
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You could save thousands of dollars a year by downsizing on utility bills alone. Could you also have enough equity to purchase an investment property for your family? You can spend your money on the activities you love doing, and live the lifestyle of your dreams.
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Make a pro and con list of staying vs. moving. Reflect on this list.
2) Get your home prepared
Do you have a jam packed basement closet you have been avoiding? It’s time to make a goal, and tackle a box a week, (or a day!). Depending on how much purging you need to do, give yourselves 3 months to prepare your home to list. Declutter at a comfortably aggressive rate, depending on the season you aim to list in.
We always recommend staging – it sells! We believe in it so much, that we hire a professional stager to consult you – for FREE!
Ask us how we can help you prepare your home to be the most desirable listing in your area!
It is great to get a professional opinion from a local Realtor, to determine your home’s market value. Why? So you can see how much you have to spend on your next home, maybe there will be some left over to invest.
Pro Tip:
DON’T OVER RENOVATE!
If you are thinking of sprucing up your home before it hits the market, ensure you that you will get a good return on your investment, by determining the demographics of your community. We have seen people use too high quality materials and craftsmanship that it wasn’t worth the money they put into it, because there wasn’t a demand for that type of finished product. Ask us what is a suitable renovation for you, to attract the right buyer.
3) Stay Organized
Before
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Prepare for your home to be listed. Pack and purge. Do you really use that treadmill, or old stereo? Be realistic.
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(We offer a Free Staging Consultation!)
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Organize your finances. How much equity do you need to pull from your home to achieve your goal.
During
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Keep home in showing condition when listed
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Actively search for homes when Buying, know what you are looking for and visiting communities
After
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Integrate into your new lifestyle with an open heart! Explore your new community. Meet your neighbours!
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Stay in touch with us for our client parties and local events!
3) Relocation Plan
So you have decided you want to downsize, fantastic! The golden question now is, where will you go?
Perhaps you know, or you might like to explore some condo or retirement communities.
Explore Condo Communities:
Burlington Condo’s
Hamilton Condo’s
We have the resources to show you valuable information about how you can maximize the sale of your property, and downsize to the home, and community you want to be in!
Call us for a free consultation
5) Use floor plans
This will help you figure out what furniture will fit in your new place(s), and what you might have to let go of.
Are you moving into a condo? Townhouse? Semi-Detached? Has it been built yet? No doubt it will be smaller, but how much smaller? Will your current furniture fit?
Measure your furniture so when you are home shopping, you can be realistic about the space, and your belongings.
Whatever your reason for downsizing, we appreciate being your real estate resource to help you through the this important transitional period.
Thank you for your consideration to work with us.
FIND OUT MORE ABOUT DOWNSIZING HERE:
