Tips to Keep In Mind When Downsizing From a Large Home to a Smaller One

There are a variety of reasons to downsize to a smaller home. Maybe you want to save money on your mortgage. Maybe your kids are grown and you no longer need as much space. Or maybe you’re no longer interested in all the cleaning and maintenance needed to maintain a larger property.

But whatever your reason, if you’re going to downsize, there are some things to keep in mind to ensure your transition from a larger home to a smaller one goes smoothly.

A recent article from realtor.com outlined tips to help homeowners downsize to a smaller, more manageable home, including:

• Budget out your costs. You may be buying a smaller space, but buying a home, no matter the size, has costs associated with it. Make sure you budget out all of your expenses (like closing costs, moving costs, and any renovations or repairs you’ll need to make in your new place) so you know how much to put aside for your home purchase.
• Measure your new space. When you downsize, you have less space to work with, and that means some of the furniture you have in your current space may not work in your new home. Before you move, make sure to map out and measure your new place; that way, you can evaluate what current furniture you own will go with you to your new home, what you’ll need to sell, and what (if any) new items you’ll need to buy.
• Get rid of stuff. Again, downsizing to a smaller home means you’ll have less space, and the last thing you want to do is fill up that space with unnecessary clutter. Before you move, take stock of all of your belongings; if it’s something you no longer want, need, or use, get rid of it before you move.