REALTOR® News & Views
The Many
Upsides to Downsizing
The word
downsizing comes with a highly negative connotation. When, in reality, it should be called
smartsizing or rightsizing. What could
be smarter than living efficiently in a dwelling that fits your lifestyle and
family’s needs perfectly? Close your
eyes and visualize this: an efficient
home where all space is used, all possessions have a home, and there are no
dumping grounds of long forgotten “treasures” and unused furniture. Sound like
your house? Most likely not and you are
not alone. Understanding the benefits of
downsizing is the easy part, committing to do it is the hard part.
The benefits
of downsizing can not only affect your wallet, but your state of mind as
well. The two main areas of savings are
money and time.
· Saving on the green stuff ($$$): In a nutshell, when you live in a smaller
home, it costs less. The mortgage is
lower, the utilities are less, the cost to repair the roof is half as much, and
it costs less to pay the kid next door to mow your lawn.
· Saving on the daily purchases: This is simple once you understand the
concept and buy into it. Because you live
a smaller home, you need to have less stuff and it has to be organized. Because you are organized, you know what you
have and where it is. The end result is
a not buying more of what you already have and do not need.
· Time Savings: This is a biggy and should not be
underestimated. How many times have you
said “If only I had more time”. A
smaller efficient and organized home is your ticket to more time. You will put your hands on what you need,
when you need it. Furthermore, your house
projects are more manageable because your dwelling is smaller. From vacuuming to mowing the lawn, you will
save a precious commodity, time.
So, if
downsizing is such a smart idea, what’s stopping you?
· Probably not house shopping. Looking for a new house is fun and
invigorating. Dream a little… what if
you sold one of your cars and moved from the suburbs to in town? What if?
· As long as you are not under water
with your current home, cost is not an issue.
Interest rates are the lowest they have been in years, now is clearly
the time to look.
· What about all the “STUFF” you have
accumulated over the last 30 years?
Bingo !! This is the number one
reason folks cannot fathom downsizing.
The thought of going through and letting go of all your collected “treasures”
is too overwhelming and emotional.
Words of advice:
· Think of the whole process as
liberating.
· Start the process early. Talk to a real estate broker about the
market. Talk with a mortgage broker.
Talk with your family. Bounce ideas around. Change can be really fun.
· Hire downsizing professionals to help
you. The process can be daunting and
help is available.
Kim Dorsky, GPBR Affiliate member
Downsizing Made Easy
Yarmouth, ME 04096
207-358-0046
