Sometimes downsizing from a large family home to a smaller retirement home is easier said than done. People often underestimate how much stuff they have accumulated until they actually go through it. That's why we have taken the time to outline four mistakes that could keep you from making your dream of downsizing a reality.
1. Lacking a Solid Plan
When it comes to real estate, plans are rarely executed without a few bumps in the road, but it is still wise to have one when you intend to move to a smaller home. A few things you can include in your plan are:
2. Being Unrealistic About Your Lifestyle
Some people just have a lot of stuff. That's okay, everyone is different, and the downsizing process isn't always easy. If you have a garage full of hobby equipment you can't bear to part with, look for storage solutions that will work in your new space. If you have used a home gym for years but won't have room in your future abode, consider the alternative. Is there a facility close by that you can use in the future? Consider how you spend your days and what is really important to you as you select a new home.
3. Underestimating Costs
The purchase and sale of real estate both cost money, and if you don't have much saved, it could prove stressful for you. Costs associated with selling a home can skyrocket if an inspection identifies serious issues with the house's foundation, roof, heating, or plumbing. Additional expenses include moving company charges, closing fees, and cleaning services.
4. Attempting To Do Everything Alone
Even if you are as physically fit as you were when you last moved, you may need to enlist some help, professional or otherwise, as you plan your move. If you have willing volunteers, assign everyone a room or box to sort through while you pack the old house. Have professional movers or friends help on the day of the move by carrying boxes to and from the moving truck.
Downsizing to a smaller home in retirement will mean fewer headaches in the long run. However, the actual process of moving is exhausting and requires money and extensive planning. As you navigate the arduous task, keep in mind the simplistic lifestyle you can lead after the move.
If you like this article you can read more articles by Tina Martin
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Contributing Author: Tina Martin