3 Tips To Downsize Your Home

3 Tips To Downsize Your Home

Whether you’re a senior, empty nester, or simply looking to live in a smaller space, once you’ve made the decision to downsize your home, the first step is usually the hardest — getting rid of your stuff.

Here are three tips to successfully downsize your home and live comfortably in a smaller, cozier place.

1. Plan ahead with your new lifestyle in mind

– Will you have room for your existing furniture in your new space?
– What belongings will you be moving with you to your new home?

Don’t wait to make decisions and begin planning your downsizing early. Set timelines with goals. Think about what lifestyle you’ll want to embrace as you move forward and build a solid plan to make that happen.

2. Declutter your space
One of the most difficult decisions you’ll make while you begin your downsizing process is deciding what to keep and what to donate or discard. It’s perfectly normal to gain an attachment to your things- after all, they’ve occupied a place in your home for some time. Begin this journey by compiling a list of your wants, needs, and what you won’t be taking with you in your new space. Once you have completed your lists, remain committed to them. It’ll be easy to deviate from your plan but remember, you put the items on a list for a reason.

3. Make decisions with quality and purpose in mind
Remain conscious about what you let into your mind, life, and new environment. Choose furniture that can be utilized for different purposes, instead of trying to squeeze too many pieces into a single room. A great rule of practice is to choose furniture with good storage and space solutions. Think quality over quantity.

Lastly, allow someone to help in sorting and packing your belongings. It could be incredibly hard for you to let go of certain items that would just clutter your new space. If you find yourself stuck on a certain decision, ask for an objective opinion.

Bottom Line

Downsizing doesn’t have to be a nuisance or a terrible experience— although, it may feel like it temporarily, think about the life and space you’ll get in exchange for all of the “stuff” you’ll be giving away.

 

 

Posted on May 29, 2018 at 6:26 pm
Jill Judy | Category: Downsizing, Home Sale | Tagged , , ,

Avoid These 5 Mistakes When Downsizing

Don’t Make These Mistakes When Downsizing

Selling a home can be one of the greatest financial and emotional decisions of your life, whether you’re downsizing or not. Avoid these common mistakes and take some of the stress out of downsizing.

1. Less is not always more

Just because a home is smaller than the one you currently own, it doesn’t mean that it’s cheaper. While most home sellers focus on the costs they’ll save on energy usage and utility bills in a smaller place, they can often overlook additional costs like increased transport fees or possible long-term maintenance costs. Carefully weigh up the all the possible costs of your new property, especially if you’re looking to not just downsize space but costs in your day-to-day life.

2. Budget for your move
Make sure to leave enough money in your budget to stay-up-date on payments in your current home, as well as any additional costs you might accrue in the process of purchasing your new home or rental. To make sure that you’re covered in the time between selling and buying your new home, look into obtaining a bridging finance loan. Check with your Realtor or mortgage broker to see if you need to apply for this type of loan. Otherwise, ensure that you’re budgeting enough to cover your move and any extraneous expenses you may face along the way.

3. Not letting go of the past
It’s normal to want to keep the personal items that you and your family have accumulated over the years such as memorabilia, furniture, photos, and knick-knacks. The best way to handle this would be by creating a downsizing plan and writing down a list of what to pack and what to discard. Although it might be difficult in the moment, be ruthless and stick to your list, not only will it save you space in your new smaller place but it will empower you to start anew!

4. Don’t forget to cancel services and utilities
During your move, ensure that all home services and utilities get canceled or transferred over to your new property. Neglecting to disconnect or redirect home services like your Internet, phone line and utilities, as well as your home and contents insurance, can cause unexpected costs that could potentially result in your budget being off balance.

5. Move Comfortably
A common mistake made by folks downsizing is not allocating enough time in their schedules to comfortably move. Even the most experienced and methodical organizers would find it difficult to sort out an entire life’s belongings in just a few days. A good rule of thumb is to set aside time in blocks of 2-hours and tackle one room at a time. On the other hand, be sure to also give yourself enough time to unpack when you finally make the move to your new downsized home.

 


Ready to downsize?

Jill Judy Realtor & Staging SpecialistContact Jill Judy

Jill Judy is a Realtor with Windermere Wall St with over 15 years of experience helping Seattle buy and sell their homes. Jill specializes in helping families buy or sell their home, downsize, and manage their estate sales.

(206) 409-2692‬

Jilljudy@windermere.com


 

Posted on February 15, 2018 at 10:35 pm
Jill Judy | Category: Home Sale | Tagged , , ,

Retiring? Empty Nester? The Time Has Come To Tap Into Your Home Equity

Are you close to retirement but not ready to move yet? Are you living in a home that is too big in size and maintenance needs? When you retire would you like to stay in your home or does downsizing and vacation destinations sound like a better option?

The answer for many empty nesters and retirees lies directly in their home equity.

According to the newest Equity Report from CoreLogic, the average homeowner in the United States has seen an estimated $14,000 gain in their home equity in just the last year alone. On the West Coast, where the Real Estate Market is thriving due to the tech industry, homeowners have gained twice that amount, some even more than that!

If you’re unaware or unsure of how much equity your home has earned in recent years, please feel free to take my Free Home Estimate.

In this Seller’s Market, homeowners have the advantage. Especially in Seattle, where supply has yet to catch up to the demand, Homeowners can quickly sell their current house and use the profits from that sale to downsize, relocate, or even enjoy vacations that were once financially impossible.

Bottom Line
The sale of your home can allow you to take full advantage of today’s seller’s market, enable you to cash in on the equity your home has built throughout the years, and live a lifestyle relieved of the everyday tasks that come with homeownership.

Posted on January 12, 2018 at 4:56 am
Jill Judy | Category: Home Sale, Home Staging Tips, Real Estate, Selling A Home | Tagged , ,

It’s A Seller’s Market! Should You Downsize Now?

As the majority of the country currently experiences a seller’s market, a recent study by Edelman Berland reveals that an estimated 33% of homeowners are considering selling their homes in the near future as they plan to scale down. There are several reasons why this might make sense for many homeowners.

A smaller home implies less space; however, it also means less time, stress and money spent on upkeep.

Let’s assume you save $500 a month on your mortgage payment. In 30 years, you could have an additional $1–1.6 million in the bank to get you through your golden years. Use the proceeds from selling your current home to pay cash for a smaller one. Just imagine what you could do with no mortgage holding you down! If you can’t pay cash, aim for a 15-year fixed rate mortgage and put at least 10–20% down on your new home. Apply the $500 you saved from downsizing to your new monthly payment. At 3% interest, you could pay off a $200,000 mortgage in less than 10.5 years, saving almost $16,000 in the process.

You’ve built up enough equity in your current home to make a profit.

For most homeowners, this is the case. Of course, this is only true if the homeowner has held on to their properties for long enough to have positive equity that will be sizable enough to put a large down payment on their next home.

Downsizing can offer you a different lifestyle.

For some folks, it’s a matter of living a simpler life focused on family. Some might want to cross off travel destinations on their bucket lists. Some might want a low-maintenance community with high-end upgrades and social events. Decide what you want to achieve from your move first, and you’ll be able to better narrow down your housing options.

Bottom Line
If you are currently considering downsizing your home and want to evaluate your options, I am available to guide you and your family on the best housing opportunities available to you now.

Posted on January 12, 2018 at 4:52 am
Jill Judy | Category: Home Sale, Real Estate, Selling A Home | Tagged ,