If you’re unsure whether downsizing is right for you, and the thought of preparing your current house for a sale feels daunting, take a look at our guidelines below to help you feel confident with your decision, sell your home quickly, and move on to the next stage in your life.
Is 2022 a Good Time to Downsize Your Home?
Going into the next year, experts are predicting a continued trend of high demand and high prices. That means it’s a seller’s market and you’ll likely get top dollar for your home, which is good, since you’ll need that money to buy your next house! One of the pros of downsizing, though, is a smaller house typically results in a smaller price tag, depending on its condition.
It’s also important to keep in mind that when there’s high demand, the number of buyers out there outnumber the supply of houses available on the market (thus the high prices), so it may be difficult to find exactly the house you want. All the more reason not to waste any time getting started! Here’s how:
How to Downsize Your Home, Step 1: Downsize Your Belongings
Before you downsize your house, you need to downsize your stuff! It might help to think about what you really need or use versus what’s just nice to have. Then, go through your possessions, including your furniture, and separate them into donations, trash, stuff to sell, and things you want to keep (a.k.a. absolutely love and can’t live without!).
A good rule of thumb is if you haven’t used or worn something in a year, you probably don’t need it. Going through this process will not only help you streamline your belongings, but also declutter your house which will help it to sell.
How to Downsize Your Home, Step 2: Consider Your Needs
Be realistic about how much space you need to live the lifestyle you want. Downsizing doesn’t necessarily have to be drastic. It’s important to ask (and be honest with) yourself if you really are okay with just a single bathroom. If you plan on guests or grandkids visiting, maybe two bedrooms would work better than one. Thinking about what you expect in this next stage of your life will help you to know to what extent you should downsize your home.
How to Downsize Your Home, Step 3: Think Multipurpose
Remember that when downsizing, it’s a good idea to consolidate your spaces by having some rooms serve double duty, such as a kitchen nook that’s also an office, or a living room with a pull-out couch that can convert into a guest room.
Also, be creative about storage solutions, such as adding shelves in closets or using under-bed bins, and choose multipurpose furniture (like that pullout couch we just mentioned!) to keep things organized and decluttered — always key to keeping a small area tidy and comfortably livable.
How to Downsize Your Home, Step 4: Downsize Purchases
Downsizing involves a change of mindset, especially when it comes to your buying habits. With less room and storage, it’s essential that you set some limits so that you don’t start accumulating too much. After all, you just got through the painstaking task of getting rid of stuff, remember? Before you buy anything, think about whether you truly need or will use it, and if it will realistically fit (both figuratively and literally!) into your new home and lifestyle.
How to Downsize Your Home, Step 5: Sell Your House
Now that you’ve prepared yourself, it’s time to prepare your house. The good news is, you’ve already got decluttering out of the way since you’ve gone through your things. Look at that — you’re ahead of the game!
Now it’s time to do some cleaning and decide whether fixes are worth making. Believe it or not, making updates and repairs aren’t always worth it in the long run, and besides, selling as-is makes downsizing a whole lot easier.
In fact, a great option for alleviating stress when selling your home is to sell it as-is to a real estate investor. Not only will you avoid all the hassles of prepping your house for sale, but you’ll also sell it quickly at a fair price. And that means you won’t have to wait to move into your smaller home and move on to your next adventures.
Want to learn more? If you’re considering downsizing, but are worried about the process of preparing a home for sale, sell without the hassle by contacting the team at Renewed Homes. We’re here to help you with a simple, fast home sale so you can focus on what’s important in your life. Let the downsizing begin!
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