Tips for downsizing your home
Once a decision is made to downsize, there are a number of factors to consider to help get you get the most out of moving to a smaller property.
You’ve spent a large part of your life in a family-sized home, and then suddenly, with the children grown up and gone, you don’t need such a spacious house any more. Or perhaps you’re dealing with a layoff, demotion or divorce. Whichever reason, downsizing from a larger home has the potential of putting you in a better financial position, as you’ll be faced with reduced bond payments, lower utility costs and less maintenance costs. Before you take the plunge, here’s what you should bear in mind.
Decide where you want to live. If there are children and grandchildren to consider, it’s best not to move too far away. Choose an area and home that fit the way you live today and will still work for you in the future. A home near local amenities such as doctors, pharmacies, shopping centres and grocery stores is always a practical choice. If you plan to host parties or large gatherings, you need more space than if you rarely entertain guests. If you expect children and grandchildren to stay overnight often, you need an extra bedroom or two.
Once you’ve settled on a specific type of property, think about how much room you have to fit your household items. Establishing the square metre floor area of each room, will help you determine how much furniture you need to take with you. This will help ensure you don’t waste time and money in moving items that are too big for your new home.
If you’re moving from a three-bedroom house to a one-bed flat, you’ll have to get rid of the extra beds and wardrobes. At least three months before the move, start to declutter your home of everything you won’t be needing anymore. Hold a garage sale, sell your stuff online, donate to charities or to family members and save yourself money when you pay for removals.
