Downsizing? 4 Tips to Transition to a Smaller Home

The kids have left the nest and the home that was once just the right size now feels three sizes too large. Even worse, as utility rates, property taxes, and insurance premiums continue to go up in most areas of the country, living in a home that is too large can become a huge financial burden for empty nesters. Homeowners who are currently living in a home that is too large for your needs and your budget and would like to downsize into a home that is just right for your situation but don't know where to start, the following four tips will help.

Selecting a Location

Making the decision to downsize offers homeowners the perfect opportunity to choose a new home location that will be more beneficial to them. Before deciding to move to a new city or town or stay in the same area general area, take time to consider important factors for each possible location, such as: 

• Where children, grandchildren, extended family, and friends are located now and into the future
• Possible locations that would be enjoyable for living due to opportunities to take part in activities of interest
• The cost of living in the area, including costs for utilities, property taxes, groceries, and other basic needs
• The availability of quality medical care in the area 
• The cost of housing and overall stability of the local real estate market

Remembering to focus on important basic factors, such as these, will help to ensure that downsizing homeowners will choose their new home in an area that will be both comfortable and enjoyable for them throughout the years to come.

Determine New Household Needs

Most downsizing homeowners are of an age where it is important to consider their overall health and mobility when choosing a home to purchase. This can mean looking for a home that is all on one level or one that offers mobility enhancements, such as an elevator or a home that can be easily modified, should the need arise.

Pare Down Possessions

Moving from a home where a family has been raised can mean dealing with the veritable mountain of furnishings and personal items that have accumulated in it. In order to make the downsizing process as painless as possible, homeowners should consider taking time to sort through each room and donate or sell all the excess well before putting the home on the market. If the appliances are older, it may also be much more cost efficient to leave them with the home being sold and order new ones that will better fit the future smaller home.

Consult a Real Estate Professional

Selling your current home and finding a smaller one that will be comfortable and convenient is easier when relying on the knowledge, expertise, and guidance of a successful real estate professional who specializes in helping empty nesters, seniors, and retirees downsize into smaller, more convenient homes. Their industry knowledge can help downsizing homeowners take advantage of market trends to get their too-large home sold quickly while also helping them find and purchase their next home to make the move as seamless and efficient as possible.